WORKMAN CO.,LTD., First Half Ordinary Profit Decreases by 1%, July-September Ordinary Profit Decreases by 0.1％

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Tue Nov 5, 2024 3:00 pm JST Earnings

7564 WORKMAN CO.,LTD. 【J-GAAP】

Earnings Report

WORKMAN CO.,LTD. <7564> [TSE-S] announced its financial results in the afternoon session on November 5th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 12.1 billion yen, a 0.7% decrease compared to the same period last year. The progress rate against the 24.1 billion yen full-year plan was 50.4%, almost the same as the five-year average of 48.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 5.1% from the same period last year, reaching 11.9 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit amounted to 4.99 billion yen, a 0.1% decrease compared to the same period last year. However, the operating profit margin rose from 16.1% in the same period last year to 17.0%.

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	60,208	12,159	12,435	7,748	95.0	50.4	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	65,580	11,991	12,260	7,605	93.2	51.8	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	65,795	11,927	12,179	7,530	92.3	50.4	Nov 5, 2024	J-GAAP
YoY	+0.3%	-0.5%	-0.7%	-1.0%	-1.0%

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	66,455	11,113	11,388	7,064	86.6	0	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	65,795	11,927	12,179	7,530	92.3	0	Nov 5, 2024	J-GAAP
Revision Rate	-1.0%	+7.3%	+6.9%	+6.6%	+6.6%

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	67,071	11,151	11,406	8,381	102.7	68	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	72,769	11,705	11,988	8,795	107.8	68	Nov 5, 2024	J-GAAP
YoY	+8.5%	+5.0%	+5.1%	+4.9%	+4.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	128,289	24,106	24,664	16,656	204.1	68	May 8, 2023	J-GAAP
Mar, 2024	132,651	23,142	23,666	15,986	195.9	68	May 7, 2024	J-GAAP
Mar, 2025 Guidance	138,564	23,632	24,167	16,325	200.0	68	May 7, 2024	J-GAAP
YoY	+4.5%	+2.1%	+2.1%	+2.1%	+2.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	30,275	4,880	4,996	3,040	37.3	16.1	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	40,582	8,687	8,826	5,481	67.2	21.4	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	26,489	2,464	2,580	2,900	35.5	9.3	May 7, 2024	J-GAAP
Apr - Jun, 2024	37,049	7,034	7,189	4,510	55.3	19.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	28,746	4,893	4,990	3,020	37.0	17.0	Nov 5, 2024	J-GAAP
YoY	-5.1%	+0.3%	-0.1%	-0.7%	-0.6%