Shinko Shoji Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 60%

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Thu Oct 31, 2024 4:30 pm JST Earnings

8141 Shinko Shoji Co.,Ltd. 【J-GAAP】

Earnings Report

Shinko Shoji Co.,Ltd. <8141> [TSE-P] announced its financial results after the market closed on October 31st (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 65.5% from the same period last year to 1.16 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 60.0%, from the previous forecast of 1 billion yen to 1.6 billion yen (compared to 4.76 billion yen in the previous period), and the declining rate is expected to decrease from 79.0% to 66.4%.

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 68.8% from the same period last year to 431 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 216 million yen, a 87.2% decrease compared to the same period last year. The operating profit margin worsened from 3.4% in the same period last year to 1.9%.

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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	89,449	3,174	3,408	2,266	64.9	49.8	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	93,629	3,388	3,387	2,267	68.5	71.0	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	64,883	1,358	1,169	325	9.8	73.1	Oct 31, 2024	J-GAAP
YoY	-30.7%	-59.9%	-65.5%	-85.7%	-85.7%

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	－	7.50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	64,883	1,358	1,169	325	9.8	7.50	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	112,000	1,000	1,000	1,000	30.2	15.50	May 15, 2024	J-GAAP
Mar, 2025 New	112,000	1,800	1,600	1,000	30.2	15.50	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	+80.0%	+60.0%	0.0%	0.0%

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	82,218	1,490	1,381	927	28.0	22	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	47,117	442	431	675	20.4	8	Oct 31, 2024	J-GAAP
YoY	-42.7%	-70.3%	-68.8%	-27.2%	-27.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	179,076	7,128	6,841	4,706	137.8	69	May 15, 2023	J-GAAP
Mar, 2024	175,847	4,878	4,768	3,194	96.5	48.50	May 15, 2024	J-GAAP
Mar, 2025 Guidance	112,000	1,800	1,600	1,000	30.2	15.50	Oct 31, 2024	J-GAAP
YoY	-36.3%	-63.1%	-66.4%	-68.7%	-68.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	48,197	1,658	1,687	1,184	35.8	3.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	39,579	1,490	1,364	945	28.6	3.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	42,639	0	17	-18	-0.5	0.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	32,574	747	953	321	9.7	2.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	32,309	611	216	4	0.1	1.9	Oct 31, 2024	J-GAAP
YoY	-33.0%	-63.1%	-87.2%	-99.7%	-99.7%