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FLYING GARDEN CO., LTD, First Half Ordinary Profit Decreases by 27%, July-September Ordinary Profit Decreases by 19%

Tue Nov 5, 2024 3:30 pm JST Earnings

3317 FLYING GARDEN CO., LTD 【J-GAAP】

Earnings Report

FLYING GARDEN CO., LTD <3317> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 26.8% from the same period last year to 270 million yen. The progress rate against the 490 million yen full-year plan was 55.1%, below the five-year average of 59.9%.

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 6.3% from the same period last year, reaching 220 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 160 million yen, a 19.2% decrease compared to the same period last year. The operating profit margin worsened from 9.7% in the same period last year to 7.3%.

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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 3,511 233 339 220 76.3 59.4 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 3,867 359 369 266 92.2 64.1 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 4,024 258 270 162 56.2 55.1 Nov 5, 2024 J-GAAP
YoY +4.1% -28.1% -26.8% -39.1% -39.1%

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 4,000 250 250 180 62.3 0 May 7, 2024 J-GAAP
Apr - Sep, 2024 Results 4,024 258 270 162 56.2 0 Nov 5, 2024 J-GAAP
Revision Rate +0.6% +3.2% +8.0% -10.0% -9.8%

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 3,918 191 207 130 45.0 15 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,076 222 220 178 61.6 15 Nov 5, 2024 J-GAAP
YoY +4.0% +16.2% +6.3% +36.9% +36.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,236 449 571 291 100.9 12.50 May 8, 2023 J-GAAP
Mar, 2024 7,785 550 576 396 137.2 15 May 7, 2024 J-GAAP
Mar, 2025 Guidance 8,100 480 490 340 117.6 15 May 7, 2024 J-GAAP
YoY +4.0% -12.7% -14.9% -14.1% -14.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,998 193 198 123 42.6 9.7 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 1,939 115 122 84 29.1 5.9 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 1,979 76 85 46 15.9 3.8 May 7, 2024 J-GAAP
Apr - Jun, 2024 1,922 104 110 64 22.2 5.4 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 2,102 154 160 98 34.0 7.3 Nov 5, 2024 J-GAAP
YoY +5.2% -20.2% -19.2% -20.3% -20.3%

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