SOTOHCO.,LTD., First Half Ordinary Profit Decreases by 52%, Current Fiscal Year Dividend Revised Upward by 12 yen

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Fri Nov 8, 2024 2:40 pm JST Earnings

3571 SOTOHCO.,LTD. 【J-GAAP】

Earnings Report

SOTOHCO.,LTD. <3571> [TSE-S] announced its financial results in the afternoon session on November 8th (14:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 51.5% from the same period last year to 219 million yen. The progress rate against the 400 million yen full-year plan was 54.8%, below the same period of the previous year of 97.4%.

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 surge by 15 times that of the same period last year, reaching 181 million yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 28 yen to 40 yen (compared to 24 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 28 million yen (compared to a profit of 186 million yen in the same period last year). The operating profit/loss margin drastically worsened from 5.9% in the same period last year to -2.3%.

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	5,170	-159	-92	-234	-18.4	ー	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	5,811	394	452	579	45.5	97.4	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,553	149	219	391	31.0	54.8	Nov 8, 2024	J-GAAP
YoY	-4.4%	-62.2%	-51.5%	-32.5%	-31.9%

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	－	14	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	5,553	149	219	391	31.0	14	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	10,000	300	400	550	43.7	28	May 9, 2024	J-GAAP
Mar, 2025 New	10,000	300	400	550	43.7	40	Nov 8, 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
Oct - Mar, 2023	4,898	-53	12	2,125	167.0	13	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,447	151	181	159	12.6	26	Nov 8, 2024	J-GAAP
YoY	-9.2%	－	+1,408.3%	-92.5%	-92.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,826	-547	-297	-723	-56.8	22	May 10, 2023	J-GAAP
Mar, 2024	10,709	341	464	2,704	212.5	24	May 9, 2024	J-GAAP
Mar, 2025 Guidance	10,000	300	400	550	43.7	40	Nov 8, 2024	J-GAAP
YoY	-6.6%	-12.0%	-13.8%	-79.7%	-79.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,799	165	186	296	23.3	5.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,579	59	93	80	6.3	2.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,319	-112	-81	2,045	160.7	-4.8	May 9, 2024	J-GAAP
Apr - Jun, 2024	3,033	206	247	318	25.2	6.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	2,520	-57	-28	73	5.8	-2.3	Nov 8, 2024	J-GAAP
YoY	-10.0%	－	－	-75.3%	-75.1%