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SANRITSU CORPORATION, First Half Ordinary Profit Decreases by 32%, July-September Ordinary Profit Decreases by 46%

Thu Nov 7, 2024 4:00 pm JST Earnings

9366 SANRITSU CORPORATION 【J-GAAP】

Earnings Report

SANRITSU CORPORATION <9366> [TSE-S] announced its financial results after the market closed on November 7th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 31.7% from the same period last year to 314 million yen. The progress rate against the 900 million yen full-year plan was 34.9%, also falling below the five-year average of 53.0%.

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 expand by 79.8% from the same period last year, reaching 586 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 131 million yen, a 45.9% decrease compared to the same period last year. However, the operating profit margin improved from 4.4% in the same period last year to 6.1%.

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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 9,969 566 776 542 95.8 64.5 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 9,548 359 460 313 56.8 58.5 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 9,595 440 314 199 35.7 34.9 Nov 7, 2024 J-GAAP
YoY +0.5% +22.6% -31.7% -36.4% -37.1%

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 9,600 360 350 240 42.9 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 9,595 440 314 199 35.7 0 Nov 7, 2024 J-GAAP
Revision Rate -0.1% +22.2% -10.3% -17.1% -16.8%

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 9,850 506 326 259 46.8 31 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 10,905 480 586 421 75.2 34 Nov 7, 2024 J-GAAP
YoY +10.7% -5.1% +79.8% +62.5% +60.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 20,335 1,019 1,203 980 175.0 50 May 12, 2023 J-GAAP
Mar, 2024 19,398 865 786 572 103.3 31 May 13, 2024 J-GAAP
Mar, 2025 Guidance 20,500 920 900 620 110.8 34 May 13, 2024 J-GAAP
YoY +5.7% +6.4% +14.5% +8.4% +7.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,886 217 242 162 29.4 4.4 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 5,002 332 272 175 31.6 6.6 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 4,848 174 54 84 15.2 3.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 4,584 135 183 115 20.7 2.9 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 5,011 305 131 84 15.1 6.1 Nov 7, 2024 J-GAAP
YoY +2.6% +40.6% -45.9% -48.1% -48.7%

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