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Rengo Co., Ltd., First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 34%

Fri Nov 1, 2024 1:00 pm JST Earnings

3941 Rengo Co., Ltd. 【J-GAAP】

Earnings Report

Rengo Co., Ltd. <3941> [TSE-P] announced its financial results in the afternoon session on November 1st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.4% from the same period last year to 21.8 billion yen. The progress rate against the 52 billion yen full-year plan was 42.1%, also falling below the five-year average of 55.5%.

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 expand by 46.8% from the same period last year, reaching 30.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 8.61 billion yen, a 34.2% decrease compared to the same period last year. The operating profit margin worsened from 5.3% in the same period last year to 3.1%.

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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 413,506 15,528 17,849 12,041 48.6 62.2 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 452,874 25,675 27,461 18,409 74.3 57.2 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 495,134 19,798 21,871 18,883 76.2 42.1 Nov 1, 2024 J-GAAP
YoY +9.3% -22.9% -20.4% +2.6% +2.5%

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 500,000 21,000 22,000 17,000 68.6 15 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 495,134 19,798 21,871 18,883 76.2 15 Nov 1, 2024 J-GAAP
Revision Rate -1.0% -5.7% -0.6% +11.1% +11.1%

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 447,917 23,180 20,523 14,616 59.0 18 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 504,866 30,202 30,129 16,117 65.0 15 Nov 1, 2024 J-GAAP
YoY +12.7% +30.3% +46.8% +10.3% +10.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 846,080 25,957 28,682 20,425 82.5 24 May 12, 2023 J-GAAP
Mar, 2024 900,791 48,855 47,984 33,025 133.3 30 May 10, 2024 J-GAAP
Mar, 2025 Guidance 1,000,000 50,000 52,000 35,000 141.2 30 May 10, 2024 J-GAAP
YoY +11.0% +2.3% +8.4% +6.0% +5.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 229,072 12,089 13,084 8,790 35.5 5.3 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 238,868 17,073 17,628 14,572 58.8 7.1 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 209,049 6,107 2,895 44 0.2 2.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 244,515 12,118 13,261 13,998 56.5 5.0 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 250,619 7,680 8,610 4,885 19.7 3.1 Nov 1, 2024 J-GAAP
YoY +9.4% -36.5% -34.2% -44.4% -44.5%

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