ORGANO CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 15%, Adds to Record High Profit Forecast, Dividend Revised Upward by 36 yen

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Fri Nov 1, 2024 3:00 pm JST Earnings

6368 ORGANO CORPORATION 【J-GAAP】

Earnings Report

ORGANO CORPORATION <6368> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 11.9 billion yen, an increase of 39.9% compared to the same period last year, exceeded the previous forecast of 9.8 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 14.9%, from the previous forecast of 24.8 billion yen to 28.5 billion yen (compared to 23.4 billion yen in the previous period), increasing the growth rate from 5.9% to 21.7%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 grow by 11.2% from the same period last year, reaching 16.5 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 106 yen to 142 yen (compared to 102 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 39.4% from the same period last year, reaching 7.57 billion yen. The operating profit margin rose from 13.9% in the same period last year to 17.5%.

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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	62,117	6,510	7,451	5,027	109.7	46.5	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	65,469	7,855	8,539	5,538	120.6	36.5	Nov 1, 2023	J-GAAP
Apr - Sep, 2024	74,323	11,480	11,946	8,134	177.0	41.9	Nov 1, 2024	J-GAAP
YoY	+13.5%	+46.1%	+39.9%	+46.9%	+46.7%

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	73,000	9,500	9,800	6,500	141.5	53	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	74,323	11,480	11,946	8,134	177.0	71	Nov 1, 2024	J-GAAP
Revision Rate	+1.8%	+20.8%	+21.9%	+25.1%	+25.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	160,000	24,500	24,800	17,600	382.6	106	Jul 31, 2024	J-GAAP
Mar, 2025 New	165,000	28,000	28,500	21,500	467.4	142	Nov 1, 2024	J-GAAP
Revision Rate	+3.1%	+14.3%	+14.9%	+22.2%	+22.2%

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	84,887	14,689	14,886	11,772	256.3	61	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	90,677	16,520	16,554	13,366	290.6	71	Nov 1, 2024	J-GAAP
YoY	+6.8%	+12.5%	+11.2%	+13.5%	+13.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	132,426	15,212	16,020	11,730	255.8	62	May 12, 2023	J-GAAP
Mar, 2024	150,356	22,544	23,425	17,310	376.9	102	May 13, 2024	J-GAAP
Mar, 2025 Guidance	165,000	28,000	28,500	21,500	467.4	142	Nov 1, 2024	J-GAAP
YoY	+9.7%	+24.2%	+21.7%	+24.2%	+24.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	35,857	4,994	5,436	3,941	85.9	13.9	Nov 1, 2023	J-GAAP
Oct - Dec, 2023	40,767	6,339	6,371	4,712	102.6	15.5	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	44,120	8,350	8,515	7,060	153.7	18.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	31,619	4,001	4,368	2,676	58.3	12.7	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	42,704	7,479	7,578	5,458	118.8	17.5	Nov 1, 2024	J-GAAP
YoY	+19.1%	+49.8%	+39.4%	+38.5%	+38.3%