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Orient Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 26% Decrease

Thu Oct 31, 2024 3:00 pm JST Earnings

8585 Orient Corporation 【J-GAAP】

Earnings Report

Orient Corporation <8585> [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) increased by 21.5% from the same period last year, reaching 7.17 billion yen.

However, the full-year consolidated ordinary profit has downwardly by 40.0%, from the previous forecast of 20 billion yen to 12 billion yen (compared to 16.1 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.5% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 52.7% from the same period last year to 4.82 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.08 billion yen, a 13.1% decrease compared to the same period last year. The operating profit margin worsened from 4.4% in the same period last year to 3.5%.

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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 116,395 15,180 15,180 10,718 62.4 65.8 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 112,190 5,905 5,905 10,126 59.0 36.6 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 123,464 7,174 7,174 3,738 21.8 59.8 Oct 31, 2024 J-GAAP
YoY +10.0% +21.5% +21.5% -63.1% -63.0%

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 ー ー ー ー － 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 123,464 7,174 7,174 3,738 21.8 0 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 263,000 20,000 20,000 20,000 116.8 40 May 10, 2024 J-GAAP
Mar, 2025 New 249,500 12,000 12,000 12,000 70.1 40 Oct 31, 2024 J-GAAP
Revision Rate -5.1% -40.0% -40.0% -40.0% -40.0%

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 116,864 10,213 10,213 2,445 14.3 40 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 126,036 4,826 4,826 8,262 48.3 40 Oct 31, 2024 J-GAAP
YoY +7.8% -52.7% -52.7% +237.9% +238.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 227,693 23,070 23,070 19,035 110.9 40 May 12, 2023 J-GAAP
Mar, 2024 229,054 16,118 16,118 12,571 73.3 40 May 10, 2024 J-GAAP
Mar, 2025 Guidance 249,500 12,000 12,000 12,000 70.1 40 Oct 31, 2024 J-GAAP
YoY +8.9% -25.5% -25.5% -4.5% -4.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 54,502 2,404 2,404 6,447 37.6 4.4 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 56,447 4,142 4,142 1,445 8.4 7.3 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 60,417 6,071 6,071 1,000 5.8 10.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 62,679 4,703 4,703 2,841 16.6 7.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 60,785 2,471 2,471 897 5.2 4.1 Oct 31, 2024 J-GAAP
YoY +11.5% +2.8% +2.8% -86.1% -86.1%

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