SEED CO.,LTD., First Half Ordinary Profit Decreases by 44%, July-September Ordinary Profit Decreases by 61%

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Mon Nov 11, 2024 3:30 pm JST Earnings

7743 SEED CO.,LTD. 【J-GAAP】

Earnings Report

SEED CO.,LTD. <7743> [TSE-P] 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) dropped by 44.1% from the same period last year to 764 million yen. The progress rate against the 2.1 billion yen full-year plan was 36.4%, also falling below the five-year average of 68.1%.

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 expand by 93.1% from the same period last year, reaching 1.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 257 million yen, a 60.9% decrease compared to the same period last year. The operating profit margin worsened from 8.2% in the same period last year to 5.4%.

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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	14,884	477	544	133	5.3	98.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	15,947	1,307	1,367	826	33.0	66.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	16,828	874	764	548	18.1	36.4	Nov 11, 2024	J-GAAP
YoY	+5.5%	-33.1%	-44.1%	-33.7%	-45.1%

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	ー	ー	ー	ー	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	16,828	874	764	548	18.1	0	Nov 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	16,449	743	692	1,138	44.9	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,172	1,326	1,336	852	28.2	15	Nov 11, 2024	J-GAAP
YoY	+16.6%	+78.5%	+93.1%	-25.1%	-37.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	30,593	629	554	-316	-12.6	12	May 12, 2023	J-GAAP
Mar, 2024	32,396	2,050	2,059	1,964	77.4	15	May 13, 2024	J-GAAP
Mar, 2025 Guidance	36,000	2,200	2,100	1,400	46.3	15	May 13, 2024	J-GAAP
YoY	+11.1%	+7.3%	+2.0%	-28.7%	-40.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,995	657	658	400	16.0	8.2	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	8,181	511	436	408	16.3	6.2	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	8,268	232	256	730	28.8	2.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	8,277	410	507	359	11.9	5.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	8,551	464	257	189	6.3	5.4	Nov 11, 2024	J-GAAP
YoY	+7.0%	-29.4%	-60.9%	-52.8%	-60.9%