PRESS KOGYO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 11%, Dividend Revised Upward by 5 yen

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Mon Nov 11, 2024 3:00 pm JST Earnings

7246 PRESS KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

PRESS KOGYO CO.,LTD. <7246> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.3% from the same period last year to 5.46 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 10.7%, from the previous forecast of 10.3 billion yen to 9.2 billion yen (compared to 13.4 billion yen in the previous period), leading to an increase in the profit decline rate from 23.5% to 31.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 43.4% from the same period last year to 3.73 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 27 yen to 32 yen (compared to 26 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.05 billion yen, a 35.1% decrease compared to the same period last year. The operating profit margin worsened from 6.4% in the same period last year to 4.4%.

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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	87,536	5,016	5,704	3,930	37.8	41.6	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	98,899	6,356	6,857	4,420	43.3	50.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	95,288	5,095	5,463	3,404	34.0	59.4	Nov 11, 2024	J-GAAP
YoY	-3.7%	-19.8%	-20.3%	-23.0%	-21.5%

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	92,200	4,700	4,900	3,400	34.3	13	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	95,288	5,095	5,463	3,404	34.0	13	Nov 11, 2024	J-GAAP
Revision Rate	+3.3%	+8.4%	+11.5%	+0.1%	-0.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	187,500	10,100	10,300	6,700	67.5	27	May 13, 2024	J-GAAP
Mar, 2025 New	176,300	8,800	9,200	5,600	56.4	32	Nov 11, 2024	J-GAAP
Revision Rate	-6.0%	-12.9%	-10.7%	-16.4%	-16.4%

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	98,918	6,451	6,604	3,658	36.0	13	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	81,012	3,705	3,737	2,196	22.1	19	Nov 11, 2024	J-GAAP
YoY	-18.1%	-42.6%	-43.4%	-40.0%	-38.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	184,844	13,110	13,714	6,793	65.5	21	May 11, 2023	J-GAAP
Mar, 2024	197,817	12,807	13,461	8,078	79.4	26	May 13, 2024	J-GAAP
Mar, 2025 Guidance	176,300	8,800	9,200	5,600	56.4	32	Nov 11, 2024	J-GAAP
YoY	-10.9%	-31.3%	-31.7%	-30.7%	-29.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	47,696	3,031	3,168	2,036	20.0	6.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	52,547	4,467	4,556	2,328	22.9	8.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	46,371	1,984	2,048	1,330	13.1	4.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	48,823	3,067	3,406	2,218	22.0	6.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	46,465	2,028	2,057	1,186	11.9	4.4	Nov 11, 2024	J-GAAP
YoY	-2.6%	-33.1%	-35.1%	-41.7%	-40.6%