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COACH A Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 45% Decrease

Fri Nov 8, 2024 4:00 pm JST Earnings

9339 COACH A Co., Ltd. 【J-GAAP】

Earnings Report

COACH A Co., Ltd. <9339> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 22.3% from the same period last year to 139 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 55.4%, from the previous forecast of 370 million yen to 165 million yen (compared to 298 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 44.6% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 73.7%, from the previous forecast of 278 million yen to 73 million yen (compared to 251 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 70.9% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 47 million yen, a 64.4% decrease compared to the same period last year. The operating profit margin decreased from 12.2% in the same period last year to 9.8%.

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, 2023 2,603 146 179 130 56.6 60.1 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 2,720 133 139 74 32.0 84.2 Nov 8, 2024 J-GAAP
YoY +4.5% -8.9% -22.3% -43.1% -43.5%

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 2,177 359 278 172 73.4 20 Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 1,867 109 73 22 9.4 20 Nov 8, 2024 J-GAAP
Revision Rate -14.2% -69.6% -73.7% -87.2% -87.2%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 3,960 400 370 230 98.2 20 Feb 9, 2024 J-GAAP
Dec, 2024 New 3,650 150 165 80 34.2 20 Nov 8, 2024 J-GAAP
Revision Rate -7.8% -62.5% -55.4% -65.2% -65.2%

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 2,006 261 251 32 14.0 20 Feb 9, 2024 J-GAAP
Jul - Dec, 2024 Guidance 1,867 109 73 22 9.4 20 Nov 8, 2024 J-GAAP
YoY -6.9% -58.2% -70.9% -31.3% -33.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 3,600 473 517 418 238.6 20 Feb 10, 2023 J-GAAP
Dec, 2023 3,648 290 298 75 32.9 20 Feb 9, 2024 J-GAAP
Dec, 2024 Guidance 3,650 150 165 80 34.2 20 Nov 8, 2024 J-GAAP
YoY +0.1% -48.3% -44.6% +6.7% +3.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 961 117 132 87 37.9 12.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 1,045 144 119 -55 -24.1 13.8 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 880 5 32 18 8.1 0.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 903 36 60 40 17.5 4.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 937 92 47 16 6.9 9.8 Nov 8, 2024 J-GAAP
YoY -2.5% -21.4% -64.4% -81.6% -81.8%

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