S E Corporation, First Half Ordinary Profit Decreases by 37%

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Tue Nov 5, 2024 12:00 pm JST Earnings

3423 S E Corporation 【J-GAAP】

Earnings Report

S E Corporation <3423> [TSE-S] announced its financial results at noon (12:00) on November 5th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.3% from the same period last year to 323 million yen. The progress rate against the 685 million yen full-year plan was 47.2%, which was higher than the five-year average of 38.7%.

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 significant drop by 57.8% from the same period last year to 362 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 338 million yen, a 19.3% decrease compared to the same period last year. The operating profit margin worsened from 6.0% 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	11,417	475	481	265	8.8	35.0	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	12,395	520	515	308	10.2	37.5	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	11,853	288	323	184	6.1	47.2	Nov 5, 2024	J-GAAP
YoY	-4.4%	-44.6%	-37.3%	-40.3%	-40.3%

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	11,853	288	323	184	6.1	0	Nov 5, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	14,079	844	858	661	21.9	13	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,582	395	362	117	3.9	13	Nov 5, 2024	J-GAAP
YoY	+3.6%	-53.2%	-57.8%	-82.3%	-82.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	25,452	1,336	1,376	870	28.8	13	May 12, 2023	J-GAAP
Mar, 2024	26,474	1,364	1,373	969	32.1	13	May 10, 2024	J-GAAP
Mar, 2025 Guidance	26,435	683	685	301	10.0	13	May 10, 2024	J-GAAP
YoY	-0.1%	-49.9%	-50.1%	-68.9%	-69.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,792	408	419	266	8.8	6.0	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	6,903	477	501	320	10.6	6.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	7,176	367	357	341	11.3	5.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,651	-19	-15	-33	-1.1	-0.3	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	6,202	307	338	217	7.2	5.0	Nov 5, 2024	J-GAAP
YoY	-8.7%	-24.8%	-19.3%	-18.4%	-18.5%