Sun Frontier Fudousan Co.,Ltd., First Half Ordinary Profit Decreases by 47%, July-September Ordinary Profit Decreases by 53%

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Thu Nov 7, 2024 3:00 pm JST Earnings

8934 Sun Frontier Fudousan Co.,Ltd. 【J-GAAP】

Earnings Report

Sun Frontier Fudousan Co.,Ltd. <8934> [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) dropped by 46.8% from the same period last year to 6.35 billion yen. The progress rate against the 20 billion yen full-year plan was 31.8%, also falling below the five-year average of 67.9%.

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 surge by 2.5 times that of the same period last year, reaching 13.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 3.61 billion yen, a 53.5% decrease compared to the same period last year. The operating profit margin decreased from 25.6% in the same period last year to 18.3%.

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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	35,333	8,044	8,035	5,368	110.4	54.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	48,998	12,022	11,944	8,463	174.4	68.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	36,786	6,703	6,350	4,422	91.1	31.8	Nov 7, 2024	J-GAAP
YoY	-24.9%	-44.2%	-46.8%	-47.7%	-47.8%

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	ー	ー	ー	ー	－	33	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	36,786	6,703	6,350	4,422	91.1	33	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	30,870	5,578	5,430	3,454	71.2	32	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	63,214	14,167	13,650	9,578	197.2	33	Nov 7, 2024	J-GAAP
YoY	+104.8%	+154.0%	+151.4%	+177.3%	+177.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	82,777	14,905	14,722	11,612	239.0	48	May 12, 2023	J-GAAP
Mar, 2024	79,868	17,600	17,374	11,917	245.5	58	May 10, 2024	J-GAAP
Mar, 2025 Guidance	100,000	20,870	20,000	14,000	288.2	66	May 10, 2024	J-GAAP
YoY	+25.2%	+18.6%	+15.1%	+17.5%	+17.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	30,546	7,816	7,760	5,329	109.8	25.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	13,260	2,141	1,958	1,281	26.4	16.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	17,610	3,437	3,472	2,173	44.8	19.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	15,685	2,834	2,739	1,878	38.7	18.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	21,101	3,869	3,611	2,544	52.4	18.3	Nov 7, 2024	J-GAAP
YoY	-30.9%	-50.5%	-53.5%	-52.3%	-52.3%