Okayamaken Freight Transportation Co.,Ltd, First Half Ordinary Profit Increases by 36%

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Fri Nov 8, 2024 3:00 pm JST Earnings

9063 Okayamaken Freight Transportation Co.,Ltd 【J-GAAP】

Earnings Report

Okayamaken Freight Transportation Co.,Ltd <9063> [TSE-S] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 537 million yen, an increase of 36.3% compared to the same period last year, exceeded the previous forecast of 440 million yen.

The progress rate against the 980 million yen full-year plan was 54.8%, also surpassing the five-year average of 48.0%.

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 decrease by 16.4% from the same period last year to 443 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 53.3% from the same period last year, reaching 233 million yen. The operating profit margin improved from 1.1% in the same period last year to 2.0%.

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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	19,032	597	732	479	236.8	51.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	18,678	277	394	2,184	1,077.7	42.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	18,873	395	537	460	227.4	54.8	Nov 8, 2024	J-GAAP
YoY	+1.0%	+42.6%	+36.3%	-78.9%	-78.9%

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	19,000	350	440	430	212.2	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	18,873	395	537	460	227.4	0	Nov 8, 2024	J-GAAP
Revision Rate	-0.7%	+12.9%	+22.0%	+7.0%	+7.2%

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	19,015	363	530	311	153.4	70	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,427	405	443	330	162.8	70	Nov 8, 2024	J-GAAP
YoY	+2.2%	+11.6%	-16.4%	+6.1%	+6.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,474	1,126	1,416	950	469.1	80	May 12, 2023	J-GAAP
Mar, 2024	37,693	640	924	2,495	1,230.9	70	May 10, 2024	J-GAAP
Mar, 2025 Guidance	38,300	800	980	790	389.8	70	May 10, 2024	J-GAAP
YoY	+1.6%	+25.0%	+6.1%	-68.3%	-68.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,384	101	152	2,025	999.3	1.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,927	382	517	349	172.2	3.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,088	-19	13	-38	-18.8	-0.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,364	206	304	198	98.2	2.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,509	189	233	262	129.5	2.0	Nov 8, 2024	J-GAAP
YoY	+1.3%	+87.1%	+53.3%	-87.1%	-87.0%