Yoshicon Co.,Ltd, First Half Ordinary Profit Revised Downward to an Unexpected 51%Decrease

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Thu Oct 31, 2024 3:30 pm JST Earnings

5280 Yoshicon Co.,Ltd 【J-GAAP】

Earnings Report

Yoshicon Co.,Ltd <5280> [TSE-S] 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) significantly dropped by 50.7% from the same period last year to 249 million yen, resulting in a decrease in profits compared to the previous forecast of a 167.3% increase.

The progress rate against the 3.8 billion yen full-year plan was 6.6%, also falling below the five-year average of 45.9%.

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 27.6% from the same period last year, reaching 3.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.5% from the same period last year, reaching 539 million yen. However, the operating profit margin significantly dropped from 17.0% in the same period last year to 11.2%.

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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	7,953	811	921	591	82.4	53.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	6,972	398	505	321	45.2	15.4	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	7,930	198	249	131	18.5	6.6	Oct 31, 2024	J-GAAP
YoY	+13.7%	-50.3%	-50.7%	-59.2%	-59.0%

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	10,000	1,300	1,350	850	119.5	0	May 2, 2024	J-GAAP
Apr - Sep, 2024 Results	7,930	198	249	131	18.5	0	Oct 31, 2024	J-GAAP
Revision Rate	-20.7%	-84.8%	-81.6%	-84.6%	-84.5%

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	16,941	2,646	2,784	1,781	250.7	55	May 2, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,070	3,502	3,551	2,369	334.6	58	Oct 31, 2024	J-GAAP
YoY	+24.4%	+32.4%	+27.6%	+33.0%	+33.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,704	1,414	1,714	1,166	162.9	50	Apr 28, 2023	J-GAAP
Mar, 2024	23,913	3,044	3,289	2,102	295.9	55	May 2, 2024	J-GAAP
Mar, 2025 Guidance	29,000	3,700	3,800	2,500	353.1	58	May 2, 2024	J-GAAP
YoY	+21.3%	+21.6%	+15.5%	+18.9%	+19.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,241	382	497	321	45.2	17.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	1,677	-81	-28	-31	-4.4	-4.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	15,264	2,727	2,812	1,812	255.1	17.9	May 2, 2024	J-GAAP
Apr - Jun, 2024	3,613	-286	-290	-209	-29.5	-7.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	4,317	484	539	340	48.1	11.2	Oct 31, 2024	J-GAAP
YoY	+92.6%	+26.7%	+8.5%	+5.9%	+6.4%