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FUJICCO CO., LTD., First Half Ordinary Profit Decreases by 46%, July-September Ordinary Profit Decreases by 46%

Thu Oct 31, 2024 3:00 pm JST Earnings

2908 FUJICCO CO., LTD. 【J-GAAP】

Earnings Report

FUJICCO CO., LTD. <2908> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.4% from the same period last year to 449 million yen. The progress rate against the 2.25 billion yen full-year plan was 20.0%, also falling below the five-year average of 45.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 72.7% from the same period last year, reaching 1.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 282 million yen, a 46.0% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 1.8%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 26,302 534 705 542 18.8 45.3 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 27,466 660 838 579 20.4 44.6 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 28,055 257 449 378 13.3 20.0 Oct 31, 2024 J-GAAP
YoY +2.1% -61.1% -46.4% -34.7% -34.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 28,050 250 450 370 13.0 23 Oct 23, 2024 J-GAAP
Apr - Sep, 2024 Results 28,055 257 449 378 13.3 23 Oct 31, 2024 J-GAAP
Revision Rate +0.0% +2.8% -0.2% +2.2% +2.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 28,249 870 1,043 531 18.7 23 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 30,445 1,743 1,801 1,172 41.2 23 Oct 31, 2024 J-GAAP
YoY +7.8% +100.3% +72.7% +120.7% +120.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 53,915 1,249 1,558 1,406 49.1 46 May 12, 2023 J-GAAP
Mar, 2024 55,715 1,530 1,881 1,110 39.0 46 May 13, 2024 J-GAAP
Mar, 2025 Guidance 58,500 2,000 2,250 1,550 54.5 46 May 13, 2024 J-GAAP
YoY +5.0% +30.7% +19.6% +39.6% +39.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,832 490 522 377 13.3 3.5 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 15,314 1,001 1,151 815 28.6 6.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 12,935 -131 -108 -284 -10.0 -1.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 13,931 6 167 65 2.3 0.0 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 14,124 251 282 313 11.0 1.8 Oct 31, 2024 J-GAAP
YoY +2.1% -48.8% -46.0% -17.0% -17.0%

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