YASUE CORPORATION, July-September (3Q) Ordinary Profit Decreases by 61%, Postponed Dividend for This Fiscal Year

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Thu Nov 7, 2024 5:30 pm JST Earnings

1439 YASUE CORPORATION 【J-GAAP】

Earnings Report

YASUE CORPORATION <1439> [TSE-S] announced its financial results after the market closed on November 7th (17:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 69.3% from the same period last year to 65 million yen. The progress rate against the 336 million yen full-year plan was 19.3%, also falling below the five-year average of 47.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to surge by 2.2 times that of the same period last year, reaching 271 million yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the year-end lump-sum dividend of 40 yen for the current fiscal year.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 52 million yen, a 60.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.2% in the same period last year to 2.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	4,830	37	45	11	8.6	19.4	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	5,323	213	212	124	94.1	63.3	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	5,348	63	65	21	16.4	19.3	Nov 7, 2024	J-GAAP
YoY	+0.5%	-70.4%	-69.3%	-83.1%	-82.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	4,507	325	323	204	122.3	40	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 New	4,507	325	323	204	122.3	0	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	7,730	340	336	205	122.9	40	Feb 9, 2024	J-GAAP
Dec, 2024 New	7,730	340	336	205	122.9	0	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	4,211	256	256	167	126.8	40	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	4,507	325	323	204	122.3	0	Nov 7, 2024	J-GAAP
YoY	+7.0%	+27.0%	+26.2%	+22.2%	-3.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	7,046	226	232	135	103.6	30	Feb 10, 2023	J-GAAP
Dec, 2023	7,399	336	335	204	154.9	40	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	7,730	340	336	205	122.9	0	Nov 7, 2024	J-GAAP
YoY	+4.5%	+1.2%	+0.3%	+0.5%	-20.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,135	133	133	87	66.0	6.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	2,076	123	123	80	60.8	5.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,547	-6	-6	-3	-3.0	-0.4	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,676	21	19	4	4.9	1.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,125	48	52	20	15.6	2.3	Nov 7, 2024	J-GAAP
YoY	-0.5%	-63.9%	-60.9%	-77.0%	-76.4%