Fukoku Co.,Ltd., First Half Ordinary Profit Increases by 60%

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Wed Nov 6, 2024 4:00 pm JST Earnings

5185 Fukoku Co.,Ltd. 【J-GAAP】

Earnings Report

Fukoku Co.,Ltd. <5185> [TSE-P] announced its financial results after the market closed on November 6th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.22 billion yen, an increase of 59.8% compared to the same period last year. However, The progress rate against the 4.8 billion yen full-year plan was 46.3%, also falling below the five-year average of 63.1%.

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 4.6% from the same period last year to 2.57 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 65.1% from the same period last year, reaching 933 million yen. The operating profit margin significantly improved from 1.8% in the same period last year to 4.8%.

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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	38,971	817	1,811	1,470	91.3	57.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	42,950	1,059	1,390	1,047	65.0	34.0	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	44,585	2,060	2,221	1,542	95.7	46.3	Nov 6, 2024	J-GAAP
YoY	+3.8%	+94.5%	+59.8%	+47.3%	+47.1%

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	－	37.50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	44,585	2,060	2,221	1,542	95.7	37.50	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	45,897	2,587	2,704	2,003	124.4	32.50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	48,415	2,740	2,579	2,208	137.0	37.50	Nov 6, 2024	J-GAAP
YoY	+5.5%	+5.9%	-4.6%	+10.2%	+10.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	82,318	2,010	3,139	2,135	132.6	50	May 15, 2023	J-GAAP
Mar, 2024	88,847	3,646	4,094	3,050	189.4	60	May 15, 2024	J-GAAP
Mar, 2025 Guidance	93,000	4,800	4,800	3,750	232.6	75	May 15, 2024	J-GAAP
YoY	+4.7%	+31.7%	+17.2%	+23.0%	+22.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	21,444	392	565	664	41.2	1.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	23,283	1,195	1,217	799	49.6	5.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	22,614	1,392	1,487	1,204	74.8	6.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	22,226	980	1,288	738	45.8	4.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	22,359	1,080	933	804	49.9	4.8	Nov 6, 2024	J-GAAP
YoY	+4.3%	+175.5%	+65.1%	+21.1%	+21.0%