Syuppin Co.,Ltd., July-September (2Q) Ordinary Profit Decreases by 4%

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Fri Nov 8, 2024 3:30 pm JST Earnings

3179 Syuppin Co.,Ltd. 【J-GAAP】

Earnings Report

Syuppin Co.,Ltd. <3179> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 22.7% from the same period last year, reaching 2 billion yen. The progress rate against the 3.82 billion yen full-year plan was 52.4%, almost the same as the five-year average of 51.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 6.4% from the same period last year, reaching 1.82 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 778 million yen, a 4.4% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 6.7% in the same period last year to 6.5%.

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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	21,885	1,628	1,645	1,125	54.0	67.4	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	23,381	1,625	1,632	1,111	52.7	48.8	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	26,521	2,020	2,003	1,365	63.0	52.4	Nov 8, 2024	J-GAAP
YoY	+13.4%	+24.3%	+22.7%	+22.9%	+19.5%

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	27,464	1,819	1,804	1,244	57.2	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	26,521	2,020	2,003	1,365	63.0	0	Nov 8, 2024	J-GAAP
Revision Rate	-3.4%	+11.1%	+11.0%	+9.7%	+10.2%

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	25,460	1,718	1,712	1,211	57.4	36	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,096	1,834	1,821	1,274	58.5	40	Nov 8, 2024	J-GAAP
YoY	+18.2%	+6.8%	+6.4%	+5.2%	+1.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,618	2,463	2,439	1,697	81.2	30	May 10, 2023	J-GAAP
Mar, 2024	48,841	3,343	3,344	2,322	110.1	36	May 9, 2024	J-GAAP
Mar, 2025 Guidance	56,617	3,854	3,824	2,639	121.2	40	May 9, 2024	J-GAAP
YoY	+15.9%	+15.3%	+14.4%	+13.7%	+10.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,065	806	814	565	26.8	6.7	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	13,092	949	941	666	31.6	7.2	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	12,368	769	771	545	25.8	6.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	13,716	1,186	1,225	843	39.1	8.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	12,805	834	778	522	24.1	6.5	Nov 8, 2024	J-GAAP
YoY	+6.1%	+3.5%	-4.4%	-7.6%	-10.1%