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

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%

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