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Ishii Food Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 54%

Thu Nov 7, 2024 11:00 am JST Earnings

2894 Ishii Food Co.,Ltd. 【J-GAAP】

Earnings Report

Ishii Food Co.,Ltd. <2894> [TSE-S] announced its financial results in the morning on November 7th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 72.5% from the same period last year to 98 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 53.6%, from the previous forecast of 280 million yen to 130 million yen (compared to 457 million yen in the previous period), leading to an increase in the profit decline rate from 38.7% to 71.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 68.0% from the same period last year to 32 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 24 million yen, a 78.2% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.1% in the same period last year to 0.7%.

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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 4,519 -111 -105 -113 -6.8 ー Oct 31, 2022 J-GAAP
Apr - Sep, 2023 5,152 338 357 190 11.3 78.1 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 5,403 88 98 34 2.1 75.4 Nov 7, 2024 J-GAAP
YoY +4.9% -74.0% -72.5% -82.1% -81.6%

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 14, 2024 J-GAAP
Apr - Sep, 2024 Results 5,403 88 98 34 2.1 0 Nov 7, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 10,710 250 280 165 9.9 4 May 14, 2024 J-GAAP
Mar, 2025 New 10,900 100 130 80 4.8 4 Nov 7, 2024 J-GAAP
Revision Rate +1.8% -60.0% -53.6% -51.5% -51.5%

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 5,340 75 100 281 16.8 4 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,497 12 32 46 2.8 4 Nov 7, 2024 J-GAAP
YoY +2.9% -84.0% -68.0% -83.6% -83.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,549 219 256 308 18.3 3 May 12, 2023 J-GAAP
Mar, 2024 10,492 413 457 471 28.1 4 May 14, 2024 J-GAAP
Mar, 2025 Guidance 10,900 100 130 80 4.8 4 Nov 7, 2024 J-GAAP
YoY +3.9% -75.8% -71.6% -83.0% -82.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,539 103 110 17 1.0 4.1 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 2,779 168 179 116 6.9 6.0 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 2,561 -93 -79 165 9.8 -3.6 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,718 68 74 15 0.9 2.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 2,685 20 24 19 1.2 0.7 Nov 7, 2024 J-GAAP
YoY +5.8% -80.6% -78.2% +11.8% +14.9%

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