Fudo Tetra Corporation, First Half Ordinary Profit Decreases by 64%, July-September Ordinary Profit Decreases by 31%

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Fri Nov 8, 2024 2:30 pm JST Earnings

1813 Fudo Tetra Corporation 【J-GAAP】

Earnings Report

Fudo Tetra Corporation <1813> [TSE-P] announced its financial results in the afternoon session on November 8th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 63.7% from the same period last year to 602 million yen. The progress rate against the 3.1 billion yen full-year plan was 19.4%, also falling below the five-year average of 44.6%.

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 expand by 94.1% from the same period last year, reaching 2.49 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 960 million yen, a 30.9% decrease compared to the same period last year. The operating profit margin worsened from 7.4% in the same period last year to 5.8%.

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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	29,929	913	1,049	732	48.1	30.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	33,424	1,463	1,660	1,153	75.8	56.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	29,815	381	602	452	29.8	19.4	Nov 8, 2024	J-GAAP
YoY	-10.8%	-74.0%	-63.7%	-60.8%	-60.7%

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	29,815	381	602	452	29.8	0	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	34,523	1,193	1,287	856	56.2	60	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	41,685	2,619	2,498	1,648	109.0	60	Nov 8, 2024	J-GAAP
YoY	+20.7%	+119.5%	+94.1%	+92.5%	+93.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,466	3,602	3,458	2,166	142.3	60	May 12, 2023	J-GAAP
Mar, 2024	67,947	2,656	2,947	2,009	132.0	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	71,500	3,000	3,100	2,100	138.9	60	May 10, 2024	J-GAAP
YoY	+5.2%	+13.0%	+5.2%	+4.5%	+5.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,408	1,282	1,389	1,008	66.2	7.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	18,289	1,034	1,045	575	37.8	5.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	16,234	159	242	281	18.5	1.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	13,037	-592	-358	-249	-16.4	-4.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,778	973	960	701	46.1	5.8	Nov 8, 2024	J-GAAP
YoY	-3.6%	-24.1%	-30.9%	-30.5%	-30.3%