Japan Oil Transportation Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 6%

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Thu Nov 7, 2024 2:00 pm JST Earnings

9074 Japan Oil Transportation Co., Ltd. 【J-GAAP】

Earnings Report

Japan Oil Transportation Co., Ltd. <9074> [TSE-S] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 16.0% from the same period last year, reaching 333 million yen, resulting in an increase in profits compared to the previous forecast of a 30.3% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 6.1%, from the previous forecast of 1.65 billion yen to 1.75 billion yen (compared to 1.78 billion yen in the previous period), and the declining rate is expected to decrease from 7.7% to 2.1%.

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 5.6% from the same period last year to 1.41 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 29.3% from the same period last year, reaching 296 million yen. The operating profit margin improved from 2.6% in the same period last year to 3.7%.

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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	16,456	329	474	336	101.7	26.4	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	16,202	168	287	212	64.3	16.1	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	17,079	259	333	327	99.0	19.0	Nov 7, 2024	J-GAAP
YoY	+5.4%	+54.2%	+16.0%	+54.2%	+54.0%

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	16,200	100	200	300	90.7	50	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	17,079	259	333	327	99.0	50	Nov 7, 2024	J-GAAP
Revision Rate	+5.4%	+159.0%	+66.5%	+9.0%	+9.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	35,500	1,500	1,650	1,200	362.8	100	May 13, 2024	J-GAAP
Mar, 2025 New	36,000	1,600	1,750	1,250	378.0	100	Nov 7, 2024	J-GAAP
Revision Rate	+1.4%	+6.7%	+6.1%	+4.2%	+4.2%

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	18,783	1,393	1,501	942	284.8	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,921	1,341	1,417	923	279.1	50	Nov 7, 2024	J-GAAP
YoY	+0.7%	-3.7%	-5.6%	-2.0%	-2.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	35,219	1,579	1,794	1,227	371.2	90	May 11, 2023	J-GAAP
Mar, 2024	34,985	1,561	1,788	1,154	348.9	100	May 13, 2024	J-GAAP
Mar, 2025 Guidance	36,000	1,600	1,750	1,250	378.0	100	Nov 7, 2024	J-GAAP
YoY	+2.9%	+2.5%	-2.1%	+8.3%	+8.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,307	220	229	187	56.7	2.6	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	9,182	442	518	349	105.7	4.8	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	9,601	951	983	593	179.3	9.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	8,247	-66	37	142	43.0	-0.8	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	8,832	325	296	185	56.0	3.7	Nov 7, 2024	J-GAAP
YoY	+6.3%	+47.7%	+29.3%	-1.1%	-1.2%