SHIKIBO LTD., First Half Ordinary Profit Decreases by 21%, July-September Ordinary Profit Decreases by 48%

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Mon Nov 11, 2024 11:30 am JST Earnings

3109 SHIKIBO LTD. 【J-GAAP】

Earnings Report

SHIKIBO LTD. <3109> [TSE-P] announced its financial results at noon (11:30) on November 11th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.1% from the same period last year to 435 million yen. The progress rate against the 900 million yen full-year plan was 48.3%, which was higher than the five-year average of 40.1%.

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 drop by 39.7% from the same period last year to 465 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 179 million yen, a 48.0% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 3.1%.

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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	18,500	580	586	767	66.3	52.1	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	19,351	561	551	401	34.6	41.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	18,911	548	435	308	24.8	48.3	Nov 11, 2024	J-GAAP
YoY	-2.3%	-2.3%	-21.1%	-23.2%	-28.5%

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	18,900	550	450	300	23.8	25	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	18,911	548	435	308	24.8	25	Nov 11, 2024	J-GAAP
Revision Rate	+0.1%	-0.4%	-3.3%	+2.7%	+3.9%

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	19,330	867	771	399	34.4	50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,089	752	465	342	27.0	25	Nov 11, 2024	J-GAAP
YoY	+3.9%	-13.3%	-39.7%	-14.3%	-21.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,893	1,217	1,125	1,568	135.3	50	May 12, 2023	J-GAAP
Mar, 2024	38,681	1,428	1,322	800	69.1	50	May 14, 2024	J-GAAP
Mar, 2025 Guidance	39,000	1,300	900	650	51.3	50	Oct 31, 2024	J-GAAP
YoY	+0.8%	-9.0%	-31.9%	-18.8%	-25.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,922	348	344	257	22.2	3.5	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	9,705	355	276	112	9.7	3.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	9,625	512	495	287	24.8	5.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	9,288	252	256	192	15.6	2.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,623	296	179	116	9.3	3.1	Nov 11, 2024	J-GAAP
YoY	-3.0%	-14.9%	-48.0%	-54.9%	-58.0%