SEKI CO.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 32%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7857 SEKI CO.,LTD. 【J-GAAP】

Earnings Report

SEKI CO.,LTD. <7857> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 121 million yen, an increase of 31.5% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 53.3% decrease.

The progress rate against the 410 million yen full-year plan was 29.5%, exceeding the five-year average of 19.3%.

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 25.1% from the same period last year to 289 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.4 times that of the same period last year, reaching 86 million yen. The operating profit/loss margin improved from -0.5% in the same period last year to 1.5%.

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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	5,352	35	128	146	35.1	21.6	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	5,584	-15	92	73	17.6	19.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,806	-5	121	73	17.7	29.5	Nov 8, 2024	J-GAAP
YoY	+4.0%	+66.7%	+31.5%	0.0%	+0.5%

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	5,816	-68	43	36	8.6	12	May 16, 2024	J-GAAP
Apr - Sep, 2024 Results	5,806	-5	121	73	17.7	12	Nov 8, 2024	J-GAAP
Revision Rate	-0.2%	+92.6%	+181.4%	+102.8%	+105.0%

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	6,404	274	386	292	70.2	14	May 16, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,854	205	289	247	59.3	12	Nov 8, 2024	J-GAAP
YoY	+7.0%	-25.2%	-25.1%	-15.4%	-15.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,906	441	593	429	103.1	24	May 11, 2023	J-GAAP
Mar, 2024	11,988	259	478	365	87.7	26	May 16, 2024	J-GAAP
Mar, 2025 Guidance	12,660	200	410	320	76.8	24	May 16, 2024	J-GAAP
YoY	+5.6%	-22.8%	-14.2%	-12.3%	-12.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,804	-14	36	34	8.2	-0.5	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,075	78	131	85	20.5	2.5	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	3,329	196	255	207	49.7	5.9	May 16, 2024	J-GAAP
Apr - Jun, 2024	2,796	-50	35	25	6.1	-1.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	3,010	45	86	48	11.6	1.5	Nov 8, 2024	J-GAAP
YoY	+7.3%	－	+138.9%	+41.2%	+41.8%