STARTS CORPORATION INC., First Half Ordinary Profit Unexpectedly Revised Upward by 2%

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Fri Nov 8, 2024 3:30 pm JST Earnings

8850 STARTS CORPORATION INC. 【J-GAAP】

Earnings Report

STARTS CORPORATION INC. <8850> [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) was 14.8 billion yen, a 1.9% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 12.9% decrease.

The progress rate against the 30.7 billion yen full-year plan was 48.4%, exceeding the five-year average of 43.0%.

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 15.8% from the same period last year to 15.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 6.42 billion yen, a 11.1% decrease compared to the same period last year. However, the operating profit margin rose from 12.2% in the same period last year to 14.3%.

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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	98,598	11,864	14,241	9,586	193.0	47.5	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	104,983	12,662	14,583	9,517	191.6	43.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	108,851	15,071	14,857	12,027	242.1	48.4	Nov 8, 2024	J-GAAP
YoY	+3.7%	+19.0%	+1.9%	+26.4%	+26.4%

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	105,800	12,700	12,700	10,300	207.4	55	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	108,851	15,071	14,857	12,027	242.1	55	Nov 8, 2024	J-GAAP
Revision Rate	+2.9%	+18.7%	+17.0%	+16.8%	+16.8%

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	128,425	17,836	18,813	12,578	253.2	55	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	119,149	15,629	15,843	10,373	208.8	55	Nov 8, 2024	J-GAAP
YoY	-7.2%	-12.4%	-15.8%	-17.5%	-17.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	233,871	28,095	30,002	20,218	407.1	93	May 12, 2023	J-GAAP
Mar, 2024	233,408	30,498	33,396	22,095	444.8	105	May 10, 2024	J-GAAP
Mar, 2025 Guidance	228,000	30,700	30,700	22,400	451.0	110	May 10, 2024	J-GAAP
YoY	-2.3%	+0.7%	-8.1%	+1.4%	+1.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	53,473	6,534	7,223	4,658	93.8	12.2	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	58,500	8,406	7,840	5,052	101.7	14.4	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	69,925	9,430	10,973	7,526	151.5	13.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	54,043	7,240	8,434	7,914	159.3	13.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	54,808	7,831	6,423	4,113	82.8	14.3	Nov 8, 2024	J-GAAP
YoY	+2.5%	+19.9%	-11.1%	-11.7%	-11.7%