EIWA CORPORATION, First Half Ordinary Profit Unexpectedly Revised Upward by 18%

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Wed Nov 6, 2024 2:30 pm JST Earnings

9857 EIWA CORPORATION 【J-GAAP】

Earnings Report

EIWA CORPORATION <9857> [TSE-S] announced its financial results in the afternoon session on November 6th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 18.3% from the same period last year, reaching 1.11 billion yen, resulting in an increase in profits compared to the previous forecast of a 1.6% decrease.

The progress rate against the 2.41 billion yen full-year plan was 46.4%, exceeding the five-year average of 30.6%.

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 decrease by 12.5% from the same period last year to 1.29 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.6% from the same period last year, reaching 595 million yen. The operating profit margin improved from 5.1% in the same period last year to 5.4%.

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	17,399	450	485	297	47.0	24.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	19,190	893	945	626	99.0	39.0	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	20,195	1,087	1,118	829	131.1	46.4	Nov 6, 2024	J-GAAP
YoY	+5.2%	+21.7%	+18.3%	+32.4%	+32.5%

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	19,200	895	930	700	110.6	35	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	20,195	1,087	1,118	829	131.1	35	Nov 6, 2024	J-GAAP
Revision Rate	+5.2%	+21.5%	+20.2%	+18.4%	+18.6%

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	24,102	1,432	1,476	1,041	164.6	50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,805	1,263	1,292	851	134.5	35	Nov 6, 2024	J-GAAP
YoY	-1.2%	-11.8%	-12.5%	-18.3%	-18.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	41,284	1,894	1,979	1,320	208.7	53	May 12, 2023	J-GAAP
Mar, 2024	43,292	2,325	2,421	1,667	263.6	65	May 10, 2024	J-GAAP
Mar, 2025 Guidance	44,000	2,350	2,410	1,680	265.5	70	May 10, 2024	J-GAAP
YoY	+1.6%	+1.1%	-0.5%	+0.8%	+0.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,349	528	548	363	57.4	5.1	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	11,132	686	710	472	74.6	6.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	12,970	746	766	569	90.0	5.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,267	494	523	350	55.3	5.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,928	593	595	479	75.8	5.4	Nov 6, 2024	J-GAAP
YoY	+5.6%	+12.3%	+8.6%	+32.0%	+32.0%