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FP CORPORATION, First Half Ordinary Profit Decreases by 10%

Thu Oct 31, 2024 3:00 pm JST Earnings

7947 FP CORPORATION 【J-GAAP】

Earnings Report

FP CORPORATION <7947> [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) decreased by 9.9% from the same period last year to 6.52 billion yen. The progress rate against the 18 billion yen full-year plan was 36.2%, also falling below the five-year average of 44.7%.

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 grow by 20.3% from the same period last year, reaching 11.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 7.1% from the same period last year, reaching 4.27 billion yen. However, the operating profit margin remained almost flat, changing from 7.2% in the same period last year to 7.2%.

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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 102,562 6,072 6,409 4,131 50.5 37.0 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 108,726 6,981 7,235 5,122 62.6 43.1 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 114,892 6,472 6,520 4,337 53.7 36.2 Oct 31, 2024 J-GAAP
YoY +5.7% -7.3% -9.9% -15.3% -14.3%

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 116,000 6,400 6,500 4,361 53.9 21.50 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 114,892 6,472 6,520 4,337 53.7 21.50 Oct 31, 2024 J-GAAP
Revision Rate -1.0% +1.1% +0.3% -0.6% -0.5%

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 113,374 9,448 9,545 6,602 80.8 35.50 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 121,108 11,328 11,480 7,785 96.3 35.50 Oct 31, 2024 J-GAAP
YoY +6.8% +19.9% +20.3% +17.9% +19.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 211,285 16,703 17,328 11,529 140.9 47 Apr 28, 2023 J-GAAP
Mar, 2024 222,100 16,429 16,780 11,724 143.5 57 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 236,000 17,800 18,000 12,122 149.9 57 Apr 30, 2024 J-GAAP
YoY +6.3% +8.3% +7.3% +3.4% +4.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 55,493 4,001 3,994 2,878 35.2 7.2 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 62,034 6,543 6,646 4,532 55.4 10.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 51,340 2,905 2,899 2,070 25.3 5.7 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 55,131 2,190 2,244 1,452 18.0 4.0 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 59,761 4,282 4,276 2,885 35.7 7.2 Oct 31, 2024 J-GAAP
YoY +7.7% +7.0% +7.1% +0.2% +1.5%

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