ICHINEN HOLDINGS CO.,LTD., First Half Ordinary Profit Increases by 37%, July-September Ordinary Profit Increases by 12%

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Thu Oct 31, 2024 3:30 pm JST Earnings

9619 ICHINEN HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

ICHINEN HOLDINGS CO.,LTD. <9619> [TSE-P] announced its financial results after the market closed on October 31st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 6.23 billion yen, an increase of 37.3% compared to the same period last year. The progress rate against the 9 billion yen full-year plan was 69.3%, also surpassing the five-year average of 51.7%.

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 drop by 43.8% from the same period last year to 2.76 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 12.2% from the same period last year, reaching 2.75 billion yen. However, the operating profit margin remained almost flat, changing from 7.3% 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	61,772	4,916	5,138	3,226	134.5	56.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	63,525	4,231	4,540	3,123	129.9	48.0	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	77,610	6,084	6,235	3,839	160.4	69.3	Oct 31, 2024	J-GAAP
YoY	+22.2%	+43.8%	+37.3%	+22.9%	+23.5%

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	77,610	6,084	6,235	3,839	162.3	33	Oct 30, 2024	J-GAAP
Apr - Sep, 2024 Results	77,610	6,084	6,235	3,839	160.4	33	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-1.1%

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	74,728	4,814	4,920	9,130	379.6	30	May 1, 2024	J-GAAP
Oct - Mar, 2024 Guidance	82,390	3,116	2,765	1,861	79.0	30	Oct 30, 2024	J-GAAP
YoY	+10.3%	-35.3%	-43.8%	-79.6%	-79.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	127,822	8,861	9,102	5,923	246.6	50	May 2, 2023	J-GAAP
Mar, 2024	138,253	9,045	9,460	12,253	509.5	60	May 1, 2024	J-GAAP
Mar, 2025 Guidance	160,000	9,200	9,000	5,700	242.0	63	Sep 9, 2024	J-GAAP
YoY	+15.7%	+1.7%	-4.9%	-53.5%	-52.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	31,515	2,316	2,454	1,540	64.1	7.3	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	37,117	2,301	2,403	7,380	306.8	6.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	37,611	2,513	2,517	1,750	72.8	6.7	May 1, 2024	J-GAAP
Apr - Jun, 2024	39,522	3,345	3,481	2,273	94.5	8.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	38,088	2,739	2,754	1,566	65.4	7.2	Oct 31, 2024	J-GAAP
YoY	+20.9%	+18.3%	+12.2%	+1.7%	+2.2%