Roland Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 22% Decrease

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Thu Nov 7, 2024 11:30 am JST Earnings

7944 Roland Corporation 【J-GAAP】

Earnings Report

Roland Corporation <7944> [TSE-P] announced its financial results at noon (11:30) on November 7th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 25.4% from the same period last year to 5.32 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 23.0%, from the previous forecast of 11.3 billion yen to 8.7 billion yen (compared to 11.1 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 22.0% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 34.7%, from the previous forecast of 7.48 billion yen to 4.88 billion yen (compared to 7.14 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 31.5% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 1.51 billion yen, a 51.6% decrease compared to the same period last year. The operating profit margin significantly dropped from 13.8% in the same period last year to 9.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	64,622	6,288	5,872	5,075	185.4	57.3	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	71,410	7,744	7,131	5,762	210.8	63.9	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	69,611	6,482	5,322	4,288	155.5	61.2	Nov 7, 2024	J-GAAP
YoY	-2.5%	-16.3%	-25.4%	-25.6%	-26.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	53,195	6,972	7,489	4,806	173.8	85	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	53,195	5,572	4,889	3,006	108.7	85	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	-20.1%	-34.7%	-37.5%	-37.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	99,900	11,400	11,300	8,500	307.4	170	Feb 14, 2024	J-GAAP
Dec, 2024 New	99,900	10,000	8,700	6,700	242.3	170	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	-12.3%	-23.0%	-21.2%	-21.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	56,349	7,615	7,142	4,956	181.2	85	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	53,195	5,572	4,889	3,006	108.7	85	Nov 7, 2024	J-GAAP
YoY	-5.6%	-26.8%	-31.5%	-39.3%	-40.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	95,840	10,751	10,250	8,938	327.0	156	Feb 13, 2023	J-GAAP
Dec, 2023	102,445	11,871	11,154	8,151	298.0	170	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	99,900	10,000	8,700	6,700	242.3	170	Nov 7, 2024	J-GAAP
YoY	-2.5%	-15.8%	-22.0%	-17.8%	-18.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	25,314	3,488	3,119	2,567	93.9	13.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	31,035	4,127	4,023	2,389	87.3	13.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	22,083	1,564	1,122	980	35.6	7.1	May 9, 2024	J-GAAP
Apr - Jun, 2024	24,622	2,864	2,689	2,714	98.5	11.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	22,906	2,054	1,511	594	21.5	9.0	Nov 7, 2024	J-GAAP
YoY	-9.5%	-41.1%	-51.6%	-76.9%	-77.1%