ISEWAN TERMINAL SERVICE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 38%, Dividend Revised Upward by 2 yen

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Fri Nov 8, 2024 2:20 pm JST Earnings

9359 ISEWAN TERMINAL SERVICE CO.,LTD. 【J-GAAP】

Earnings Report

ISEWAN TERMINAL SERVICE CO.,LTD. <9359> [NSE-M] announced its financial results in the afternoon session on November 8th (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 23.0% from the same period last year to 1.85 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 38.5%, from the previous forecast of 2.6 billion yen to 3.6 billion yen (compared to 3.98 billion yen in the previous period), and the declining rate is expected to decrease from 34.7% to 9.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 11.2% from the same period last year, reaching 1.74 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 24 yen to 26 yen (compared to 28 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 25.2% from the same period last year, reaching 1.19 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.2%.

Kabutan News

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	34,582	2,827	3,538	2,308	93.1	53.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	29,839	1,883	2,414	1,487	60.0	60.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	27,030	1,345	1,858	1,273	52.4	51.6	Nov 8, 2024	J-GAAP
YoY	-9.4%	-28.6%	-23.0%	-14.4%	-12.6%

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	25,000	850	1,100	800	32.9	12	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	27,030	1,345	1,858	1,273	52.4	12	Nov 8, 2024	J-GAAP
Revision Rate	+8.1%	+58.2%	+68.9%	+59.1%	+59.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	51,500	2,050	2,600	1,750	71.9	24	May 10, 2024	J-GAAP
Mar, 2025 New	55,000	2,800	3,600	2,350	96.6	26	Nov 8, 2024	J-GAAP
Revision Rate	+6.8%	+36.6%	+38.5%	+34.3%	+34.3%

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	26,860	1,287	1,567	1,012	41.2	16	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	27,970	1,455	1,742	1,077	44.3	14	Nov 8, 2024	J-GAAP
YoY	+4.1%	+13.1%	+11.2%	+6.4%	+7.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	69,994	5,855	6,596	4,241	171.0	32	May 10, 2023	J-GAAP
Mar, 2024	56,699	3,170	3,981	2,499	101.6	28	May 10, 2024	J-GAAP
Mar, 2025 Guidance	55,000	2,800	3,600	2,350	96.6	26	Nov 8, 2024	J-GAAP
YoY	-3.0%	-11.7%	-9.6%	-6.0%	-4.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,656	711	951	524	21.1	4.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,055	963	1,146	733	29.7	6.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	12,805	324	421	279	11.4	2.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	12,469	439	667	421	17.4	3.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	14,561	906	1,191	852	35.1	6.2	Nov 8, 2024	J-GAAP
YoY	-0.6%	+27.4%	+25.2%	+62.6%	+66.0%