Sanrio Company, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 8%, Dividend Revised Upward by 3 yen

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Fri Nov 1, 2024 3:30 pm JST Earnings

8136 Sanrio Company, Ltd. 【J-GAAP】

Earnings Report

Sanrio Company, Ltd. <8136> [TSE-P] announced its financial results after the market closed on November 1st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 24.1 billion yen, an increase of 70.4% compared to the same period last year, exceeded the previous forecast of 19.8 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.0%, from the previous forecast of 38.7 billion yen to 41.8 billion yen (compared to 28.2 billion yen in the previous period), increasing the growth rate from 36.9% to 47.9%.

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 25.2% from the same period last year, reaching 17.6 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 37 yen to 40 yen (compared to 66 yen before the 1-to-3 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 59.6% from the same period last year, reaching 12.4 billion yen. The operating profit margin rose from 31.1% in the same period last year to 37.9%.

Kabutan News

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	30,630	5,346	5,608	3,010	12.5	40.9	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	43,930	13,307	14,201	10,506	43.4	50.2	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	62,807	23,591	24,196	19,076	80.8	57.9	Nov 1, 2024	J-GAAP
YoY	+43.0%	+77.3%	+70.4%	+81.6%	+86.0%

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	57,000	18,300	19,800	16,100	68.2	18.50	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	62,807	23,591	24,196	19,076	80.8	20	Nov 1, 2024	J-GAAP
Revision Rate	+10.2%	+28.9%	+22.2%	+18.5%	+18.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	119,300	37,100	38,700	28,700	121.5	37	Aug 2, 2024	J-GAAP
Mar, 2025 New	130,600	41,000	41,800	31,100	131.7	40	Nov 1, 2024	J-GAAP
Revision Rate	+9.5%	+10.5%	+8.0%	+8.4%	+8.4%

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	56,051	13,645	14,064	7,078	29.4	14.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	67,793	17,409	17,604	12,024	50.9	20	Nov 1, 2024	J-GAAP
YoY	+20.9%	+27.6%	+25.2%	+69.9%	+73.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	72,624	13,247	13,724	8,158	33.7	11.67	May 12, 2023	J-GAAP
Mar, 2024	99,981	26,952	28,265	17,584	73.1	22	May 14, 2024	J-GAAP
Mar, 2025 Guidance	130,600	41,000	41,800	31,100	131.7	40	Nov 1, 2024	J-GAAP
YoY	+30.6%	+52.1%	+47.9%	+76.9%	+80.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	23,615	7,343	7,827	5,590	23.1	31.1	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	28,495	8,083	8,277	5,630	23.3	28.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	27,556	5,562	5,787	1,448	6.0	20.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	28,911	10,746	11,704	10,296	43.6	37.2	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	33,896	12,845	12,492	8,780	37.2	37.9	Nov 1, 2024	J-GAAP
YoY	+43.5%	+74.9%	+59.6%	+57.1%	+61.0%