GLORY LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 7%

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Thu Nov 7, 2024 3:00 pm JST Earnings

6457 GLORY LTD. 【J-GAAP】

Earnings Report

GLORY LTD. <6457> [TSE-P] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.6% from the same period last year to 14.3 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 6.7%, from the previous forecast of 22.5 billion yen to 24 billion yen (compared to 48.4 billion yen in the previous period), and the declining rate is expected to decrease from 53.5% to 50.5%.

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 70.9% from the same period last year to 9.61 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 5.1 billion yen, a 54.0% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.3% in the same period last year to 9.3%.

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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	112,142	-4,711	-5,359	-6,195	-106.0	ー	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	157,839	16,783	15,404	8,308	149.4	31.8	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	185,098	19,143	14,389	7,381	132.4	60.0	Nov 7, 2024	J-GAAP
YoY	+17.3%	+14.1%	-6.6%	-11.2%	-11.4%

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	180,000	16,500	14,500	8,000	142.7	54	Aug 6, 2024	J-GAAP
Apr - Sep, 2024 Results	185,098	19,143	14,389	7,381	132.4	54	Nov 7, 2024	J-GAAP
Revision Rate	+2.8%	+16.0%	-0.8%	-7.7%	-7.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	346,000	26,500	22,500	11,500	205.1	108	Aug 6, 2024	J-GAAP
Mar, 2025 New	362,000	30,000	24,000	13,000	231.9	108	Nov 7, 2024	J-GAAP
Revision Rate	+4.6%	+13.2%	+6.7%	+13.0%	+13.0%

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	214,639	34,493	33,034	21,366	384.2	66	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	176,902	10,857	9,611	5,619	100.2	54	Nov 7, 2024	J-GAAP
YoY	-17.6%	-68.5%	-70.9%	-73.7%	-73.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	255,857	522	-2,720	-9,538	-167.0	68	May 11, 2023	J-GAAP
Mar, 2024	372,478	51,276	48,438	29,674	533.6	106	May 10, 2024	J-GAAP
Mar, 2025 Guidance	362,000	30,000	24,000	13,000	231.9	108	Nov 7, 2024	J-GAAP
YoY	-2.8%	-41.5%	-50.5%	-56.2%	-56.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	88,159	12,633	11,086	6,303	113.4	14.3	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	101,867	18,552	18,345	12,598	226.6	18.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	112,772	15,941	14,689	8,768	157.7	14.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	92,775	10,557	9,284	5,743	103.1	11.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	92,323	8,586	5,105	1,638	29.4	9.3	Nov 7, 2024	J-GAAP
YoY	+4.7%	-32.0%	-54.0%	-74.0%	-74.1%