USS Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 1%, Adds to Record High Profit Forecast, Dividend Revised Upward by 0.4 yen

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Tue Nov 5, 2024 3:40 pm JST Earnings

4732 USS Co.,Ltd. 【J-GAAP】

Earnings Report

USS Co.,Ltd. <4732> [TSE-P] announced its financial results after the market closed on November 5th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 10.2% from the same period last year, reaching 26.5 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 0.8%, from the previous forecast of 53.2 billion yen to 53.6 billion yen (compared to 49.6 billion yen in the previous period), increasing the growth rate from 7.1% to 7.9%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 5.8% from the same period last year, reaching 27 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 41.2 yen to 41.6 yen (compared to 75.4 yen before the 1-to-2 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.0% from the same period last year, reaching 12.9 billion yen. The operating profit margin rose from 48.9% in the same period last year to 51.5%.

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	42,429	21,220	21,586	14,614	29.9	48.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	48,093	23,779	24,131	16,164	33.4	48.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	50,456	26,230	26,587	18,140	37.8	49.6	Nov 5, 2024	J-GAAP
YoY	+4.9%	+10.3%	+10.2%	+12.2%	+12.9%

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	50,450	25,840	26,190	17,860	37.2	20.60	Aug 6, 2024	J-GAAP
Apr - Sep, 2024 Results	50,456	26,230	26,587	18,140	37.8	20.60	Nov 5, 2024	J-GAAP
Revision Rate	+0.0%	+1.5%	+1.5%	+1.6%	+1.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	102,600	52,500	53,200	36,000	76.1	41.20	Aug 6, 2024	J-GAAP
Mar, 2025 New	102,606	52,900	53,600	36,350	76.8	41.60	Nov 5, 2024	J-GAAP
Revision Rate	+0.0%	+0.8%	+0.8%	+1.0%	+1.0%

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	49,513	25,158	25,523	16,742	34.7	20.35	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	52,150	26,670	27,013	18,210	38.5	21	Nov 5, 2024	J-GAAP
YoY	+5.3%	+6.0%	+5.8%	+8.8%	+10.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	88,778	43,778	44,491	30,008	61.4	33.75	May 9, 2023	J-GAAP
Mar, 2024	97,606	48,937	49,654	32,906	68.3	37.70	May 8, 2024	J-GAAP
Mar, 2025 Guidance	102,606	52,900	53,600	36,350	76.8	41.60	Nov 5, 2024	J-GAAP
YoY	+5.1%	+8.1%	+7.9%	+10.5%	+12.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	24,164	11,808	12,001	8,062	16.7	48.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	23,421	11,965	12,157	8,301	17.2	51.1	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	26,092	13,193	13,366	8,441	17.5	50.6	May 8, 2024	J-GAAP
Apr - Jun, 2024	25,640	13,443	13,620	9,252	19.3	52.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	24,816	12,787	12,967	8,888	18.5	51.5	Nov 5, 2024	J-GAAP
YoY	+2.7%	+8.3%	+8.0%	+10.2%	+11.0%