IWATSUKA CONFECTIONERY CO.,LTD., First Half Ordinary Profit Increases by 54%, July-September Ordinary Profit Increases by 54%

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Mon Nov 11, 2024 3:30 pm JST Earnings

2221 IWATSUKA CONFECTIONERY CO.,LTD. 【J-GAAP】

Earnings Report

IWATSUKA CONFECTIONERY CO.,LTD. <2221> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.35 billion yen, an increase of 54.2% compared to the same period last year. The progress rate against the 3.5 billion yen full-year plan was 96.0%, also surpassing the five-year average of 72.1%.

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 significant drop by 77.6% from the same period last year to 141 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 53.9% from the same period last year, reaching 2.93 billion yen. The operating profit/loss margin improved from -1.0% in the same period last year to 0.2%.

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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	9,591	-267	4,426	3,234	288.6	81.2	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	10,209	82	2,178	1,499	133.8	77.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	11,614	290	3,359	2,369	227.8	96.0	Nov 11, 2024	J-GAAP
YoY	+13.8%	+253.7%	+54.2%	+58.0%	+70.3%

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	11,700	300	3,000	2,000	192.3	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	11,614	290	3,359	2,369	227.8	0	Nov 11, 2024	J-GAAP
Revision Rate	-0.7%	-3.3%	+12.0%	+18.5%	+18.5%

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	11,791	521	630	458	41.0	23	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,386	360	141	31	3.0	25	Nov 11, 2024	J-GAAP
YoY	+5.0%	-30.9%	-77.6%	-93.2%	-92.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,386	-213	5,454	3,970	354.3	18.50	May 12, 2023	J-GAAP
Mar, 2024	22,000	603	2,808	1,957	175.4	23	May 14, 2024	J-GAAP
Mar, 2025 Guidance	24,000	650	3,500	2,400	230.7	25	Aug 9, 2024	J-GAAP
YoY	+9.1%	+7.8%	+24.6%	+22.6%	+31.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,903	-49	1,905	1,334	119.1	-1.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	6,288	538	556	429	38.3	8.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	5,503	-17	74	29	2.6	-0.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	5,965	280	427	322	31.0	4.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,649	10	2,932	2,047	196.8	0.2	Nov 11, 2024	J-GAAP
YoY	+15.2%	－	+53.9%	+53.4%	+65.3%