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ISHIHARA SANGYO KAISHA, LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 6%

Fri Nov 8, 2024 3:00 pm JST Earnings

4028 ISHIHARA SANGYO KAISHA, LTD. 【J-GAAP】

Earnings Report

ISHIHARA SANGYO KAISHA, LTD. <4028> [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) significantly dropped by 55.0% from the same period last year to 2.48 billion yen, fell short of the previous forecast of 3.5 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 5.6%, from the previous forecast of 9 billion yen to 9.5 billion yen (compared to 14.8 billion yen in the previous period), and the declining rate is expected to decrease from 39.4% to 36.0%.

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 decrease by 24.8% from the same period last year to 7.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 1.65 billion yen (compared to a loss of 275 million yen in the same period last year). However, the operating profit/loss margin drastically improved from -3.2% 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 64,227 3,362 6,420 4,411 110.4 62.0 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 67,529 2,280 5,528 3,748 98.2 37.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 74,522 2,653 2,486 727 19.0 26.2 Nov 8, 2024 J-GAAP
YoY +10.4% +16.4% -55.0% -80.6% -80.6%

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 75,000 3,000 3,500 1,500 39.2 0 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 74,522 2,653 2,486 727 19.0 0 Nov 8, 2024 J-GAAP
Revision Rate -0.6% -11.6% -29.0% -51.5% -51.5%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 144,000 10,000 9,000 6,000 156.8 70 May 10, 2024 J-GAAP
Mar, 2025 New 148,000 10,000 9,500 6,000 156.8 70 Nov 8, 2024 J-GAAP
Revision Rate +2.8% 0.0% +5.6% 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 70,927 9,211 9,322 4,240 111.1 70 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 73,478 7,347 7,014 5,273 137.8 70 Nov 8, 2024 J-GAAP
YoY +3.6% -20.2% -24.8% +24.4% +24.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 131,238 8,631 10,349 6,947 175.8 42 May 11, 2023 J-GAAP
Mar, 2024 138,456 11,491 14,850 7,988 209.3 70 May 10, 2024 J-GAAP
Mar, 2025 Guidance 148,000 10,000 9,500 6,000 156.8 70 Nov 8, 2024 J-GAAP
YoY +6.9% -13.0% -36.0% -24.9% -25.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 29,922 -952 -275 -1,237 -32.4 -3.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 30,974 203 -248 -907 -23.8 0.7 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 39,953 9,008 9,570 5,147 134.8 22.5 May 10, 2024 J-GAAP
Apr - Jun, 2024 37,595 1,786 4,136 2,873 75.2 4.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 36,927 867 -1,650 -2,146 -56.2 2.3 Nov 8, 2024 J-GAAP
YoY +23.4% － -500.0% -73.5% -73.3%

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