DENSAN CO.,LTD., First Half Ordinary Profit Increases by 2.9 times

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Thu Oct 31, 2024 3:20 pm JST Earnings

3640 DENSAN CO.,LTD. 【J-GAAP】

Earnings Report

DENSAN CO.,LTD. <3640> [TSE-S] announced its financial results after the market closed on October 31st (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.9 times that of the same period last year, reaching 295 million yen, exceeded the previous forecast of 200 million yen.

The progress rate against the 1.36 billion yen full-year plan was 21.7%, exceeding the five-year average of 14.3%.

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 decrease by 5.8% from the same period last year to 1.06 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 9.3 times that of the same period last year, reaching 186 million yen. The operating profit margin significantly improved from 0.6% in the same period last year to 5.0%.

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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	7,203	220	231	155	31.0	9.2	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	7,043	97	102	55	11.0	8.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	7,291	289	295	225	38.9	21.7	Oct 31, 2024	J-GAAP
YoY	+3.5%	+197.9%	+189.2%	+309.1%	+252.0%

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	7,200	200	200	150	25.8	17	Sep 18, 2024	J-GAAP
Apr - Sep, 2024 Results	7,291	289	295	225	38.9	17	Oct 31, 2024	J-GAAP
Revision Rate	+1.3%	+44.5%	+47.5%	+50.0%	+50.5%

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	8,931	1,193	1,131	843	158.9	20	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,309	1,061	1,065	715	123.1	20	Oct 31, 2024	J-GAAP
YoY	+15.4%	-11.1%	-5.8%	-15.2%	-22.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,804	2,503	2,507	1,611	321.5	45	May 15, 2023	J-GAAP
Mar, 2024	15,974	1,290	1,233	898	169.3	37	May 15, 2024	J-GAAP
Mar, 2025 Guidance	17,600	1,350	1,360	940	161.8	37	May 15, 2024	J-GAAP
YoY	+10.2%	+4.7%	+10.3%	+4.7%	-4.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,402	20	20	7	1.4	0.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	3,487	-46	-106	-77	-15.0	-1.3	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	5,444	1,239	1,237	920	173.4	22.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,586	104	109	75	13.0	2.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,705	185	186	150	25.9	5.0	Oct 31, 2024	J-GAAP
YoY	+8.9%	+825.0%	+830.0%	+2,042.9%	+1,737.6%