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The Sumitomo Warehouse Co.,Ltd., July-September (2Q) Ordinary Profit Decreases by 4%

Thu Nov 7, 2024 1:20 pm JST Earnings

9303 The Sumitomo Warehouse Co.,Ltd. 【J-GAAP】

Earnings Report

The Sumitomo Warehouse Co.,Ltd. <9303> [TSE-P] announced its financial results in the afternoon session on November 7th (13:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 8.27 billion yen, a 2.1% decrease compared to the same period last year. The progress rate against the 17 billion yen full-year plan was 48.7%, almost the same as the five-year average of 48.9%.

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 grow by 3.5% from the same period last year, reaching 8.72 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.16 billion yen, a 4.0% decrease compared to the same period last year. The operating profit margin worsened from 6.8% in the same period last year to 6.5%.

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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 123,520 17,655 19,158 14,781 184.0 65.8 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 93,532 6,541 8,452 5,488 69.2 50.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 95,286 6,368 8,276 5,157 65.8 48.7 Nov 7, 2024 J-GAAP
YoY +1.9% -2.6% -2.1% -6.0% -4.9%

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 95,000 6,350 8,050 5,150 66.0 50.50 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 95,286 6,368 8,276 5,157 65.8 50.50 Nov 7, 2024 J-GAAP
Revision Rate +0.3% +0.3% +2.8% +0.1% -0.3%

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 91,129 6,646 8,428 7,002 88.6 50.50 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 96,714 7,132 8,724 7,343 95.0 50.50 Nov 7, 2024 J-GAAP
YoY +6.1% +7.3% +3.5% +4.9% +7.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 223,948 26,090 29,115 22,455 281.1 100 May 12, 2023 J-GAAP
Mar, 2024 184,661 13,187 16,880 12,490 158.0 101 May 10, 2024 J-GAAP
Mar, 2025 Guidance 192,000 13,500 17,000 12,500 161.7 101 May 10, 2024 J-GAAP
YoY +4.0% +2.4% +0.7% +0.1% +2.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 46,854 3,199 3,293 1,970 24.8 6.8 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 47,202 3,742 5,579 3,728 47.1 7.9 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 43,927 2,904 2,849 3,274 41.4 6.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 46,396 3,194 5,114 3,273 41.7 6.9 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 48,890 3,174 3,162 1,884 24.1 6.5 Nov 7, 2024 J-GAAP
YoY +4.3% -0.8% -4.0% -4.4% -3.2%

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