Oji Holdings Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 15% Decrease

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Thu Nov 7, 2024 1:00 pm JST Earnings

3861 Oji Holdings Corporation 【J-GAAP】

Earnings Report

Oji Holdings Corporation <3861> [TSE-P] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.5% from the same period last year to 39.4 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 27.0%, from the previous forecast of 100 billion yen to 73 billion yen (compared to 85.9 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 15.1% decrease in profit.

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 decrease by 4.5% from the same period last year to 33.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 15 billion yen, a 31.3% decrease compared to the same period last year. However, the operating profit margin improved from 4.0% in the same period last year to 4.7%.

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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	837,502	40,395	60,232	37,927	38.3	63.4	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	847,093	38,821	50,825	31,641	31.9	59.1	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	922,887	37,232	39,413	24,227	24.6	54.0	Nov 7, 2024	J-GAAP
YoY	+8.9%	-4.1%	-22.5%	-23.4%	-22.9%

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	940,000	37,000	44,000	32,500	33.0	12	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	922,887	37,232	39,413	24,227	24.6	12	Nov 7, 2024	J-GAAP
Revision Rate	-1.8%	+0.6%	-10.4%	-25.5%	-25.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,950,000	95,000	100,000	75,000	78.1	24	May 14, 2024	J-GAAP
Mar, 2025 New	1,877,000	70,000	73,000	57,000	59.3	24	Nov 7, 2024	J-GAAP
Revision Rate	-3.7%	-26.3%	-27.0%	-24.0%	-24.0%

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	849,175	33,779	35,162	19,171	19.4	8	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	954,113	32,768	33,587	32,773	34.1	12	Nov 7, 2024	J-GAAP
YoY	+12.4%	-3.0%	-4.5%	+71.0%	+76.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,706,641	84,818	95,008	56,483	57.0	16	May 12, 2023	J-GAAP
Mar, 2024	1,696,268	72,600	85,987	50,812	51.3	16	May 14, 2024	J-GAAP
Mar, 2025 Guidance	1,877,000	70,000	73,000	57,000	59.3	24	Nov 7, 2024	J-GAAP
YoY	+10.7%	-3.6%	-15.1%	+12.2%	+15.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	426,776	17,046	21,876	14,042	14.2	4.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	445,304	17,542	14,621	10,689	10.8	3.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	403,871	16,237	20,541	8,482	8.6	4.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	438,097	14,526	24,390	17,719	18.0	3.3	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	484,790	22,706	15,023	6,508	6.6	4.7	Nov 7, 2024	J-GAAP
YoY	+13.6%	+33.2%	-31.3%	-53.7%	-53.4%