ONOKEN CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 22% Decrease

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Fri Nov 8, 2024 3:00 pm JST Earnings

7414 ONOKEN CO.,LTD. 【J-GAAP】

Earnings Report

ONOKEN CO.,LTD. <7414> [TSE-P] 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) decreased by 12.7% from the same period last year to 3.79 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 24.4%, from the previous forecast of 8.6 billion yen to 6.5 billion yen (compared to 8.34 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 22.1% decrease in profit.

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 drop by 32.3% from the same period last year to 2.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.52 billion yen, a 25.2% decrease compared to the same period last year. The operating profit margin worsened from 2.8% in the same period last year to 2.3%.

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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	125,280	5,294	5,373	3,568	152.7	54.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	140,317	4,220	4,349	2,970	118.7	52.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	137,587	3,692	3,797	2,532	99.1	58.4	Nov 8, 2024	J-GAAP
YoY	-1.9%	-12.5%	-12.7%	-14.7%	-16.5%

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	147,100	4,100	4,200	2,800	109.5	34	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	137,587	3,692	3,797	2,532	99.1	34	Nov 8, 2024	J-GAAP
Revision Rate	-6.5%	-10.0%	-9.6%	-9.6%	-9.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	302,000	8,500	8,600	5,800	230.9	69	May 15, 2024	J-GAAP
Mar, 2025 New	282,200	6,500	6,500	4,400	175.2	69	Nov 8, 2024	J-GAAP
Revision Rate	-6.6%	-23.5%	-24.4%	-24.1%	-24.1%

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	141,616	3,999	3,993	2,791	111.4	33	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	144,613	2,808	2,703	1,868	74.4	35	Nov 8, 2024	J-GAAP
YoY	+2.1%	-29.8%	-32.3%	-33.1%	-33.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	262,653	9,735	9,950	7,023	298.9	90	May 15, 2023	J-GAAP
Mar, 2024	281,933	8,219	8,342	5,761	229.9	69	May 15, 2024	J-GAAP
Mar, 2025 Guidance	282,200	6,500	6,500	4,400	175.2	69	Nov 8, 2024	J-GAAP
YoY	+0.1%	-20.9%	-22.1%	-23.6%	-23.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	70,594	2,008	2,035	1,440	57.6	2.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	72,607	1,868	1,829	1,220	48.8	2.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	69,009	2,131	2,164	1,571	62.7	3.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	71,497	2,176	2,274	1,507	59.0	3.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	66,090	1,516	1,523	1,025	40.1	2.3	Nov 8, 2024	J-GAAP
YoY	-6.4%	-24.5%	-25.2%	-28.8%	-30.3%