SAXA, Inc., First Half Ordinary Profit Decreases by 44%

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Fri Nov 8, 2024 3:30 pm JST Earnings

6675 SAXA, Inc. 【J-GAAP】

Earnings Report

SAXA, Inc. <6675> [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) dropped by 43.8% from the same period last year to 1.23 billion yen. The progress rate against the 2.1 billion yen full-year plan was 58.9%, also surpassing the five-year average of 31.1%.

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 28.4% from the same period last year to 863 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 670 million yen, a 25.7% decrease compared to the same period last year. The operating profit margin worsened from 8.5% in the same period last year to 7.3%.

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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	16,591	211	193	-279	-47.8	8.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	21,930	2,177	2,201	1,519	260.3	64.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	19,682	1,237	1,237	1,128	194.1	58.9	Nov 8, 2024	J-GAAP
YoY	-10.3%	-43.2%	-43.8%	-25.7%	-25.4%

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	－	－	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	19,682	1,237	1,237	1,128	194.1	－	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	19,018	1,168	1,205	1,281	219.5	135	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	22,318	863	863	272	47.0	135	Nov 8, 2024	J-GAAP
YoY	+17.4%	-26.1%	-28.4%	-78.8%	-78.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,320	2,416	2,386	601	103.1	35	May 12, 2023	J-GAAP
Mar, 2024	40,948	3,345	3,406	2,800	479.9	135	May 10, 2024	J-GAAP
Mar, 2025 Guidance	42,000	2,100	2,100	1,400	241.8	135	May 29, 2024	J-GAAP
YoY	+2.6%	-37.2%	-38.3%	-50.0%	-49.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,172	950	902	595	102.0	8.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,661	545	564	444	76.1	5.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,357	623	641	837	143.5	6.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,118	467	567	256	44.1	5.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	10,564	770	670	872	150.0	7.3	Nov 8, 2024	J-GAAP
YoY	-5.4%	-18.9%	-25.7%	+46.6%	+47.1%