DOSHISHA CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 1%Decrease

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Thu Oct 31, 2024 3:00 pm JST Earnings

7483 DOSHISHA CO.,LTD. 【J-GAAP】

Earnings Report

DOSHISHA CO.,LTD. <7483> [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) was 4.32 billion yen, a 1.4% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 2.6% increase.

The progress rate against the 9.1 billion yen full-year plan was 47.5%, also falling below the five-year average of 51.9%.

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 18.6% from the same period last year, reaching 4.77 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.8 billion yen, an increase of 1.0% compared to the same period last year. However, the operating profit margin remained almost flat, changing from 6.9% in the same period last year to 6.6%.

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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	52,404	3,839	3,954	2,641	77.1	47.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	51,860	4,266	4,384	2,931	85.9	52.1	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	54,508	4,182	4,322	2,884	84.0	47.5	Oct 31, 2024	J-GAAP
YoY	+5.1%	-2.0%	-1.4%	-1.6%	-2.2%

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	54,100	4,450	4,500	2,950	86.4	40	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	54,508	4,182	4,322	2,884	84.0	40	Oct 31, 2024	J-GAAP
Revision Rate	+0.8%	-6.0%	-4.0%	-2.2%	-2.8%

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	53,964	3,660	4,028	2,853	83.6	40	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	55,492	4,818	4,778	3,116	89.7	40	Oct 31, 2024	J-GAAP
YoY	+2.8%	+31.6%	+18.6%	+9.2%	+7.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	105,709	8,052	8,342	5,621	164.3	65	May 10, 2023	J-GAAP
Mar, 2024	105,824	7,926	8,412	5,784	169.4	75	May 9, 2024	J-GAAP
Mar, 2025 Guidance	110,000	9,000	9,100	6,000	172.6	80	May 9, 2024	J-GAAP
YoY	+3.9%	+13.6%	+8.2%	+3.7%	+1.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	25,498	1,749	1,788	1,193	35.0	6.9	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	32,847	2,936	3,001	2,039	59.7	8.9	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	21,117	724	1,027	814	23.8	3.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	27,869	2,416	2,516	1,678	49.2	8.7	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	26,639	1,766	1,806	1,206	35.1	6.6	Oct 31, 2024	J-GAAP
YoY	+4.5%	+1.0%	+1.0%	+1.1%	+0.5%