COTA CO.,LTD., First Half Ordinary Profit Decreases by 31%

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Wed Nov 6, 2024 4:00 pm JST Earnings

4923 COTA CO.,LTD. 【J-GAAP】

Earnings Report

COTA CO.,LTD. <4923> [TSE-P] announced its financial results after the market closed on November 6th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 31.4% from the same period last year to 186 million yen. The progress rate against the 1.98 billion yen full-year plan was 9.4%, also falling below the five-year average of 23.3%.

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 7.0% from the same period last year, reaching 1.79 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 73.1% from the same period last year, reaching 289 million yen. The operating profit margin significantly improved from 9.2% in the same period last year to 13.6%.

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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	3,384	350	361	266	9.3	17.1	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	3,427	260	271	186	6.6	13.9	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	3,594	198	186	122	4.4	9.4	Nov 6, 2024	J-GAAP
YoY	+4.9%	-23.8%	-31.4%	-34.4%	-34.1%

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	ー	ー	ー	ー	－	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	3,594	198	186	122	4.4	0	Nov 6, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	5,709	1,661	1,682	1,163	41.2	18.18	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,066	1,774	1,799	1,258	45.3	20	Nov 6, 2024	J-GAAP
YoY	+6.3%	+6.8%	+7.0%	+8.2%	+10.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,804	2,020	2,115	1,560	54.7	16.53	May 9, 2023	J-GAAP
Mar, 2024	9,136	1,921	1,953	1,349	47.8	18.18	May 8, 2024	J-GAAP
Mar, 2025 Guidance	9,660	1,972	1,985	1,380	49.7	20	May 8, 2024	J-GAAP
YoY	+5.7%	+2.7%	+1.6%	+2.3%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,734	160	167	125	4.5	9.2	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	3,882	1,552	1,562	1,092	38.7	40.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	1,827	109	120	71	2.5	6.0	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,492	-88	-103	-81	-2.9	-5.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	2,102	286	289	203	7.3	13.6	Nov 6, 2024	J-GAAP
YoY	+21.2%	+78.8%	+73.1%	+62.4%	+62.9%