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

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 37,187 39,367 24,289 24.7 53.9 Nov 7, 2024 J-GAAP
YoY +8.9% -4.2% -22.5% -23.2% -22.7%

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 37,187 39,367 24,289 24.7 12 Nov 7, 2024 J-GAAP
Revision Rate -1.8% +0.5% -10.5% -25.3% -25.3%

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 79.8 24 May 14, 2024 J-GAAP
Mar, 2025 New 1,877,000 70,000 73,000 57,000 60.7 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 32,813 33,633 32,711 34.8 12 Nov 7, 2024 J-GAAP
YoY +12.4% -2.9% -4.3% +70.6% +79.9%

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 60.7 24 Nov 7, 2024 J-GAAP
YoY +10.7% -3.6% -15.1% +12.2% +18.3%

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 22,661 14,977 6,570 6.7 4.7 Nov 7, 2024 J-GAAP
YoY +13.6% +32.9% -31.5% -53.2% -52.9%

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