RISO KAGAKU CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 6% Increase

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Fri Nov 1, 2024 4:00 pm JST Earnings

6413 RISO KAGAKU CORPORATION 【J-GAAP】

Earnings Report

RISO KAGAKU CORPORATION <6413> [TSE-P] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 12.2% from the same period last year, reaching 2.63 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.2%, from the previous forecast of 6.1 billion yen to 6.6 billion yen (compared to 6.2 billion yen in the previous period), turning to a 6.4% increase in the consolidated ordinary profit outlook. However, the full-year consolidated net income has downwardly by 2.3%, from the previous forecast of 4.3 billion yen to 4.2 billion yen (compared to 4.83 billion yen in the previous period), leading to an increase in the profit decline rate from 11.0% to 13.1%.

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 2.9% from the same period last year, reaching 3.97 billion yen.

At the same time, Due to a planned 1-to-2 stock split is scheduled for December 31, the year-end lump-sum dividend for the current fiscal year has been revised from the original plan of 100 yen to 50 yen (equivalent to 100 yen before the stock split), but the actual dividend remains unchanged.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 137 million yen, a 87.3% decrease compared to the same period last year. The operating profit margin worsened from 5.2% in the same period last year to 4.7%.

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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	35,047	2,393	2,596	2,001	29.7	41.9	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	34,837	1,841	2,343	1,870	28.0	37.8	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	38,167	2,804	2,630	1,782	27.2	39.8	Nov 1, 2024	J-GAAP
YoY	+9.6%	+52.3%	+12.2%	-4.7%	-2.8%

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	38,200	2,900	2,700	1,900	29.1	0	Sep 30, 2024	J-GAAP
Apr - Sep, 2024 Results	38,167	2,804	2,630	1,782	27.2	0	Nov 1, 2024	J-GAAP
Revision Rate	-0.1%	-3.3%	-2.6%	-6.2%	-6.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	78,600	5,600	6,100	4,300	66.5	50	Jul 30, 2024	J-GAAP
Mar, 2025 New	80,500	6,500	6,600	4,200	64.9	50	Nov 1, 2024	J-GAAP
Revision Rate	+2.4%	+16.1%	+8.2%	-2.3%	-2.3%

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	39,765	3,415	3,859	2,961	44.6	50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	42,333	3,696	3,970	2,418	37.4	50	Nov 1, 2024	J-GAAP
YoY	+6.5%	+8.2%	+2.9%	-18.3%	-16.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	74,655	5,955	6,201	4,624	68.9	60	May 9, 2023	J-GAAP
Mar, 2024	74,602	5,256	6,202	4,831	72.7	50	May 9, 2024	J-GAAP
Mar, 2025 Guidance	80,500	6,500	6,600	4,200	64.9	50	Nov 1, 2024	J-GAAP
YoY	+7.9%	+23.7%	+6.4%	-13.1%	-10.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,050	939	1,080	822	12.3	5.2	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	18,118	1,356	1,348	972	14.6	7.5	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	21,647	2,059	2,511	1,989	30.0	9.5	May 9, 2024	J-GAAP
Apr - Jun, 2024	19,444	1,919	2,493	1,740	26.5	9.9	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	18,723	885	137	42	0.6	4.7	Nov 1, 2024	J-GAAP
YoY	+3.7%	-5.8%	-87.3%	-94.9%	-94.8%