Poppins Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 2%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7358 Poppins Corporation 【J-GAAP】

Earnings Report

Poppins Corporation <7358> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.7 times that of the same period last year, reaching 1.24 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 2.2%, from the previous forecast of 1.36 billion yen to 1.39 billion yen (compared to 1.3 billion yen in the previous period), increasing the growth rate from 4.5% to 6.8%. However, the full-year consolidated net income has downwardly by 28.4%, from the previous forecast of 880 million yen to 630 million yen (compared to 677 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 6.9% decrease in profit.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has been revised upward by 4.9%, from the previous forecast of 617 million yen to 647 million yen (compared to 1.14 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 46.0% to 43.4%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 64.4% from the same period last year, reaching 498 million yen. The operating profit margin improved from 4.3% in the same period last year to 6.6%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	19,305	757	804	533	55.1	59.2	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	21,094	456	461	280	28.9	35.4	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	23,515	1,221	1,241	550	56.6	89.3	Nov 8, 2024	J-GAAP
YoY	+11.5%	+167.8%	+169.2%	+96.4%	+95.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	15,177	640	617	414	42.5	40	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 New	15,777	670	647	164	16.8	40	Nov 8, 2024	J-GAAP
Revision Rate	+4.0%	+4.7%	+4.9%	-60.4%	-60.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	30,900	1,350	1,360	880	90.4	40	Feb 14, 2024	J-GAAP
Dec, 2024 New	31,500	1,380	1,390	630	64.7	40	Nov 8, 2024	J-GAAP
Revision Rate	+1.9%	+2.2%	+2.2%	-28.4%	-28.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	15,031	1,014	1,143	583	60.2	40	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	15,777	670	647	164	16.8	40	Nov 8, 2024	J-GAAP
YoY	+5.0%	-33.9%	-43.4%	-71.9%	-72.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	26,258	1,305	1,357	824	85.1	40	Feb 14, 2023	J-GAAP
Dec, 2023	28,893	1,162	1,301	677	69.9	40	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	31,500	1,380	1,390	630	64.7	40	Nov 8, 2024	J-GAAP
YoY	+9.0%	+18.8%	+6.8%	-6.9%	-7.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,232	308	303	186	19.2	4.3	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	7,799	706	840	397	41.0	9.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	7,860	442	436	268	27.6	5.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,863	268	307	198	20.4	3.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	7,792	511	498	84	8.6	6.6	Nov 8, 2024	J-GAAP
YoY	+7.7%	+65.9%	+64.4%	-54.8%	-55.0%