PIOLAX,INC., The Current Fiscal Year Ordinary Profit Revised Downward by 28%

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Thu Nov 7, 2024 1:00 pm JST Earnings

5988 PIOLAX,INC. 【J-GAAP】

Earnings Report

PIOLAX,INC. <5988> [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 23.2% from the same period last year to 1.8 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 27.7%, from the previous forecast of 4.7 billion yen to 3.4 billion yen (compared to 5.65 billion yen in the previous period), leading to an increase in the profit decline rate from 16.8% to 39.8%.

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 significant drop by 51.7% from the same period last year to 1.59 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 910 million yen, a 28.1% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 3.8%.

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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	27,707	1,651	2,062	1,439	42.3	42.4	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	30,966	1,881	2,354	1,980	58.2	41.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	31,946	1,271	1,807	1,225	36.0	53.1	Nov 7, 2024	J-GAAP
YoY	+3.2%	-32.4%	-23.2%	-38.1%	-38.1%

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	32,000	1,300	1,800	1,300	38.2	39	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	31,946	1,271	1,807	1,225	36.0	39	Nov 7, 2024	J-GAAP
Revision Rate	-0.2%	-2.2%	+0.4%	-5.8%	-5.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	66,000	3,600	4,700	3,100	91.8	92	May 10, 2024	J-GAAP
Mar, 2025 New	63,500	2,400	3,400	2,200	65.2	92	Nov 7, 2024	J-GAAP
Revision Rate	-3.8%	-33.3%	-27.7%	-29.0%	-29.0%

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	33,585	2,875	3,296	2,033	59.7	59	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,554	1,129	1,593	975	28.9	53	Nov 7, 2024	J-GAAP
YoY	-6.0%	-60.7%	-51.7%	-52.0%	-51.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	58,422	3,949	4,868	3,375	99.2	100	May 12, 2023	J-GAAP
Mar, 2024	64,551	4,756	5,650	4,013	117.9	128	May 10, 2024	J-GAAP
Mar, 2025 Guidance	63,500	2,400	3,400	2,200	65.2	92	Nov 7, 2024	J-GAAP
YoY	-1.6%	-49.5%	-39.8%	-45.2%	-44.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,866	980	1,265	981	28.8	6.2	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	17,206	1,793	2,502	1,923	56.5	10.4	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	16,379	1,082	794	110	3.2	6.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	15,734	649	897	721	21.2	4.1	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	16,212	622	910	504	14.8	3.8	Nov 7, 2024	J-GAAP
YoY	+2.2%	-36.5%	-28.1%	-48.6%	-48.6%