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

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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%