JANOME Corporation, July-September (2Q) Ordinary Profit Decreases by 98%

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Fri Nov 8, 2024 3:30 pm JST Earnings

6445 JANOME Corporation 【J-GAAP】

Earnings Report

JANOME Corporation <6445> [TSE-P] 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 745 million yen, an increase of 90.1% compared to the same period last year. However, The progress rate against the 2.4 billion yen full-year plan was 31.0%, also falling below the five-year average of 38.4%.

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 grow by 20.7% from the same period last year, reaching 1.65 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 10 million yen, a 98.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 4.6% in the same period last year to 4.6%.

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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	19,675	661	1,186	-816	-42.2	49.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	17,542	279	392	31	1.6	22.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	17,981	910	745	776	42.3	31.0	Nov 8, 2024	J-GAAP
YoY	+2.5%	+226.2%	+90.1%	+2,403.2%	+2,513.6%

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	ー	ー	ー	ー	－	15	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	17,981	910	745	776	42.3	15	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	18,934	1,437	1,371	1,100	58.5	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	22,019	1,590	1,655	724	40.5	25	Nov 8, 2024	J-GAAP
YoY	+16.3%	+10.6%	+20.7%	-34.2%	-30.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,571	2,120	2,400	-393	-20.3	25	May 12, 2023	J-GAAP
Mar, 2024	36,476	1,716	1,763	1,131	60.1	25	May 10, 2024	J-GAAP
Mar, 2025 Guidance	40,000	2,500	2,400	1,500	83.9	40	Aug 9, 2024	J-GAAP
YoY	+9.7%	+45.7%	+36.1%	+32.6%	+39.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,889	459	511	169	8.8	4.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,334	598	310	133	7.0	6.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,600	839	1,061	967	51.4	8.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	8,688	481	735	623	34.0	5.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,293	429	10	153	8.4	4.6	Nov 8, 2024	J-GAAP
YoY	-6.0%	-6.5%	-98.0%	-9.5%	-5.4%