SHOFU INC., First Half Ordinary Profit Increases by 26%, July-September Ordinary Profit Increases by 17%

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Wed Nov 6, 2024 3:30 pm JST Earnings

7979 SHOFU INC. 【J-GAAP】

Earnings Report

SHOFU INC. <7979> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.9% from the same period last year, reaching 3 billion yen. The progress rate against the 5.6 billion yen full-year plan was 53.6%, almost the same as the five-year average of 53.5%.

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 4.9% from the same period last year to 2.59 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 17.1% from the same period last year, reaching 1.19 billion yen. The operating profit margin rose from 12.4% in the same period last year to 15.8%.

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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	15,831	2,237	2,745	2,133	59.9	64.8	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	16,447	2,155	2,387	1,559	44.0	46.6	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	18,887	3,042	3,006	2,364	66.6	53.6	Nov 6, 2024	J-GAAP
YoY	+14.8%	+41.2%	+25.9%	+51.6%	+51.4%

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	18,996	2,921	3,189	2,598	73.1	18	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	18,887	3,042	3,006	2,364	66.6	18	Nov 6, 2024	J-GAAP
Revision Rate	-0.6%	+4.1%	-5.7%	-9.0%	-8.9%

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	18,633	2,554	2,731	2,096	59.1	21	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,508	2,251	2,598	2,070	58.2	26	Nov 6, 2024	J-GAAP
YoY	+4.7%	-11.9%	-4.9%	-1.2%	-1.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,678	3,824	4,238	3,135	88.1	28.50	May 10, 2023	J-GAAP
Mar, 2024	35,080	4,709	5,118	3,655	103.1	31	May 9, 2024	J-GAAP
Mar, 2025 Guidance	38,395	5,293	5,604	4,434	124.7	44	Aug 2, 2024	J-GAAP
YoY	+9.4%	+12.4%	+9.5%	+21.3%	+21.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,182	1,011	1,020	873	24.6	12.4	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	8,956	1,254	1,305	1,188	33.5	14.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	9,677	1,300	1,426	908	25.6	13.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	9,457	1,550	1,812	1,120	31.6	16.4	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	9,430	1,492	1,194	1,244	35.0	15.8	Nov 6, 2024	J-GAAP
YoY	+15.3%	+47.6%	+17.1%	+42.5%	+42.2%