SEIBU HOLDINGS INC., July-September (2Q) Ordinary Profit Decreases by 31%

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Thu Nov 7, 2024 3:30 pm JST Earnings

9024 SEIBU HOLDINGS INC. 【J-GAAP】

Earnings Report

SEIBU HOLDINGS INC. <9024> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 3.7% from the same period last year, reaching 30.2 billion yen. The progress rate against the 40 billion yen full-year plan was 75.5%, also surpassing the five-year average of 70.6%.

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 decrease by 29.4% from the same period last year to 9.79 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 10.6 billion yen, a 30.6% decrease compared to the same period last year. The operating profit margin decreased from 14.0% in the same period last year to 10.9%.

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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	212,595	13,415	12,729	64,641	215.0	63.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	238,882	31,818	29,130	27,458	91.2	67.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	252,269	33,789	30,204	77,011	255.9	75.5	Nov 7, 2024	J-GAAP
YoY	+5.6%	+6.2%	+3.7%	+180.5%	+180.6%

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	250,000	33,000	30,000	76,000	252.4	15	Oct 2, 2024	J-GAAP
Apr - Sep, 2024 Results	252,269	33,789	30,204	77,011	255.9	15	Nov 7, 2024	J-GAAP
Revision Rate	+0.9%	+2.4%	+0.7%	+1.3%	+1.4%

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	238,716	15,893	13,870	-468	-1.6	12.50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	241,731	11,211	9,796	6,989	25.4	15	Nov 7, 2024	J-GAAP
YoY	+1.3%	-29.5%	-29.4%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	428,487	22,155	20,133	56,753	188.7	25	May 11, 2023	J-GAAP
Mar, 2024	477,598	47,711	43,000	26,990	89.7	25	May 9, 2024	J-GAAP
Mar, 2025 Guidance	494,000	45,000	40,000	84,000	305.1	30	Oct 2, 2024	J-GAAP
YoY	+3.4%	-5.7%	-7.0%	+211.2%	+240.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	122,670	17,165	15,315	18,359	61.0	14.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	121,594	15,783	14,661	15,727	52.2	13.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	117,122	110	-791	-16,195	-53.8	0.1	May 9, 2024	J-GAAP
Apr - Jun, 2024	125,412	19,959	19,578	15,515	51.5	15.9	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	126,857	13,830	10,626	61,496	204.4	10.9	Nov 7, 2024	J-GAAP
YoY	+3.4%	-19.4%	-30.6%	+235.0%	+235.1%