Bunka Shutter Co.,Ltd., First Half Ordinary Profit Decreases by 21%, July-September Ordinary Profit Decreases by 44%

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Wed Nov 6, 2024 2:00 pm JST Earnings

5930 Bunka Shutter Co.,Ltd. 【J-GAAP】

Earnings Report

Bunka Shutter Co.,Ltd. <5930> [TSE-P] announced its financial results in the afternoon session on November 6th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.8% from the same period last year to 3.95 billion yen. The progress rate against the 15.4 billion yen full-year plan was 25.7%, almost the same as the five-year average of 27.4%.

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 grow by 4.5% from the same period last year, reaching 11.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.34 billion yen, a 44.5% decrease compared to the same period last year. The operating profit margin worsened from 7.5% in the same period last year to 6.2%.

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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	86,564	2,584	2,781	1,869	27.9	27.8	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	98,675	4,314	4,992	3,049	48.0	31.3	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	102,298	3,890	3,955	2,208	31.1	25.7	Nov 6, 2024	J-GAAP
YoY	+3.7%	-9.8%	-20.8%	-27.6%	-35.3%

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	103,000	4,700	4,400	2,450	34.4	32	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	102,298	3,890	3,955	2,208	31.1	32	Nov 6, 2024	J-GAAP
Revision Rate	-0.7%	-17.2%	-10.1%	-9.9%	-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	122,401	10,158	10,949	7,533	111.8	34	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	127,702	11,110	11,445	9,192	129.2	32	Nov 6, 2024	J-GAAP
YoY	+4.3%	+9.4%	+4.5%	+22.0%	+15.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	199,179	9,685	9,992	7,899	121.7	42	May 11, 2023	J-GAAP
Mar, 2024	221,076	14,472	15,941	10,582	157.1	55	May 14, 2024	J-GAAP
Mar, 2025 Guidance	230,000	15,000	15,400	11,400	160.2	64	May 14, 2024	J-GAAP
YoY	+4.0%	+3.6%	-3.4%	+7.7%	+2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	53,198	3,991	4,215	2,752	43.3	7.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	55,489	4,088	4,147	2,625	39.7	7.4	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	66,912	6,070	6,802	4,908	72.9	9.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	46,315	433	1,614	772	10.9	0.9	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	55,983	3,457	2,341	1,436	20.2	6.2	Nov 6, 2024	J-GAAP
YoY	+5.2%	-13.4%	-44.5%	-47.8%	-53.4%