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WATANABE SATO CO., LTD., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Decreases by 84%

Thu Nov 7, 2024 1:00 pm JST Earnings

1807 WATANABE SATO CO., LTD. 【J-GAAP】

Earnings Report

WATANABE SATO CO., LTD. <1807> [TSE-S] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 262 million yen (compared to a profit of 240 million yen in the same period last year).

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 expand by 38.6% from the same period last year, reaching 2.11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 47 million yen, a 84.5% decrease compared to the same period last year. The operating profit margin worsened from 3.1% in the same period last year to 0.3%.

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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 14,486 -283 -268 -199 -32.8 ー Nov 10, 2022 J-GAAP
Apr - Sep, 2023 16,109 202 240 155 25.5 13.6 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 16,135 -342 -262 -250 -40.2 ー Nov 7, 2024 J-GAAP
YoY +0.2% － － － －

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 － 40 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 16,135 -342 -262 -250 -40.2 40 Nov 7, 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 22,291 1,448 1,524 1,047 170.3 75 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 23,865 2,142 2,112 1,450 232.7 40 Nov 7, 2024 J-GAAP
YoY +7.1% +47.9% +38.6% +38.5% +36.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 34,656 616 709 446 73.4 50 May 11, 2023 J-GAAP
Mar, 2024 38,400 1,650 1,764 1,202 195.5 75 May 10, 2024 J-GAAP
Mar, 2025 Guidance 40,000 1,800 1,850 1,200 192.6 80 May 10, 2024 J-GAAP
YoY +4.2% +9.1% +4.9% -0.2% -1.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,631 301 303 198 32.6 3.1 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 10,373 695 720 468 76.4 6.7 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 11,918 753 804 579 94.2 6.3 May 10, 2024 J-GAAP
Apr - Jun, 2024 7,228 -373 -309 -269 -43.3 -5.2 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 8,907 31 47 19 3.1 0.3 Nov 7, 2024 J-GAAP
YoY -7.5% -89.7% -84.5% -90.4% -90.6%

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