Qol Holdings Co.,Ltd., The Current Fiscal Year Net Income Revised Downward by 12%

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Fri Nov 1, 2024 3:30 pm JST Earnings

3034 Qol Holdings Co.,Ltd. 【J-GAAP】

Earnings Report

Qol Holdings Co.,Ltd. <3034> [TSE-P] announced its financial results after the market closed on November 1st (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 35.9% from the same period last year to 1.21 billion yen, resulting in a decrease in profits compared to the previous forecast of a 5.9% increase.

In addition, the full-year consolidated net income has downwardly by 12.3%, from the previous forecast of 5.7 billion yen to 5 billion yen (compared to 4.88 billion yen in the previous period), leading to a reduction in the profit growth rate from 16.8% to 2.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 26.6% from the same period last year, reaching 3.78 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 368 million yen, a 58.1% decrease compared to the same period last year. However, the operating profit margin improved from 3.7% in the same period last year to 5.0%.

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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	82,459	4,022	4,174	2,366	64.1	41.3	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	88,540	3,559	3,675	1,888	50.8	39.7	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	124,771	6,096	6,220	1,211	32.4	40.9	Nov 1, 2024	J-GAAP
YoY	+40.9%	+71.3%	+69.3%	-35.9%	-36.2%

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	124,000	5,400	5,500	2,000	53.5	17	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	124,771	6,096	6,220	1,211	32.4	17	Nov 1, 2024	J-GAAP
Revision Rate	+0.6%	+12.9%	+13.1%	-39.5%	-39.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	270,000	15,000	15,200	5,700	152.3	34	May 10, 2024	J-GAAP
Mar, 2025 New	270,000	15,000	15,200	5,000	133.6	34	Nov 1, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-12.3%	-12.3%

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	91,512	4,765	5,581	2,992	80.4	15	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	145,229	8,904	8,980	3,789	101.2	17	Nov 1, 2024	J-GAAP
YoY	+58.7%	+86.9%	+60.9%	+26.6%	+25.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	170,036	9,495	10,098	5,656	153.0	32	May 11, 2023	J-GAAP
Mar, 2024	180,052	8,324	9,256	4,880	131.1	30	May 10, 2024	J-GAAP
Mar, 2025 Guidance	270,000	15,000	15,200	5,000	133.6	34	Nov 1, 2024	J-GAAP
YoY	+50.0%	+80.2%	+64.2%	+2.5%	+1.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	45,137	1,686	1,735	878	23.6	3.7	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	45,988	2,170	2,848	1,886	50.7	4.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	45,524	2,595	2,733	1,106	29.7	5.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	61,036	2,915	2,966	843	22.6	4.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	63,735	3,181	3,254	368	9.9	5.0	Nov 1, 2024	J-GAAP
YoY	+41.2%	+88.7%	+87.6%	-58.1%	-58.3%