Youji Corporation, First Half Ordinary Profit Revised Downward to an Unexpected 18%Decrease

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Thu Oct 31, 2024 4:00 pm JST Earnings

2152 Youji Corporation 【J-GAAP】

Earnings Report

Youji Corporation <2152> [TSE-S] announced its financial results after the market closed on October 31st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.8% from the same period last year to 508 million yen, resulting in a decrease in profits compared to the previous forecast of a 1.9% increase.

The progress rate against the 1.4 billion yen full-year plan was 36.3%, also falling below the five-year average of 39.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 16.0% from the same period last year, reaching 892 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 256 million yen, a 22.4% decrease compared to the same period last year. The operating profit margin decreased from 18.9% in the same period last year to 14.2%.

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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	3,406	686	705	485	45.0	47.3	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	3,378	597	618	427	39.6	44.6	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	3,433	478	508	349	32.4	36.3	Oct 31, 2024	J-GAAP
YoY	+1.6%	-19.9%	-17.8%	-18.3%	-18.2%

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	3,500	610	630	435	40.3	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	3,433	478	508	349	32.4	0	Oct 31, 2024	J-GAAP
Revision Rate	-1.9%	-21.6%	-19.4%	-19.8%	-19.6%

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	3,573	739	769	538	49.8	23	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,767	872	892	626	58.0	23	Oct 31, 2024	J-GAAP
YoY	+5.4%	+18.0%	+16.0%	+16.4%	+16.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,917	1,453	1,491	1,079	100.0	22	May 10, 2023	J-GAAP
Mar, 2024	6,951	1,336	1,387	965	89.3	23	May 13, 2024	J-GAAP
Mar, 2025 Guidance	7,200	1,350	1,400	975	90.3	23	May 13, 2024	J-GAAP
YoY	+3.6%	+1.0%	+0.9%	+1.0%	+1.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,697	321	330	222	20.6	18.9	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	1,741	359	373	272	25.2	20.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	1,832	380	396	266	24.6	20.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,702	232	252	178	16.5	13.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	1,731	246	256	171	15.9	14.2	Oct 31, 2024	J-GAAP
YoY	+2.0%	-23.4%	-22.4%	-23.0%	-22.9%