UNIVANCE CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 13%, Dividend Revised Upward by 1 yen

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Mon Nov 11, 2024 3:30 pm JST Earnings

7254 UNIVANCE CORPORATION 【J-GAAP】

Earnings Report

UNIVANCE CORPORATION <7254> [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 2.38 billion yen, an increase of 61.3% compared to the same period last year, exceeded the previous forecast of 1.6 billion yen.

However, the full-year consolidated ordinary profit has downwardly by 12.9%, from the previous forecast of 3.1 billion yen to 2.7 billion yen (compared to 4.53 billion yen in the previous period), leading to an increase in the profit decline rate from 31.7% to 40.5%.

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 significant drop by 89.8% from the same period last year to 313 million yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 12 yen to 13 yen (compared to 11 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.15 billion yen, an increase of 2.8% compared to the same period last year. However, the operating profit margin worsened from 8.3% in the same period last year to 7.9%.

Kabutan News

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	23,899	321	504	275	13.3	46.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	24,993	1,366	1,480	1,105	53.1	32.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	28,290	2,213	2,387	1,895	91.0	88.4	Nov 11, 2024	J-GAAP
YoY	+13.2%	+62.0%	+61.3%	+71.5%	+71.5%

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	27,000	1,500	1,600	1,300	62.4	6	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	28,290	2,213	2,387	1,895	91.0	7	Nov 11, 2024	J-GAAP
Revision Rate	+4.8%	+47.5%	+49.2%	+45.8%	+45.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	54,000	3,000	3,100	2,500	120.0	12	May 13, 2024	J-GAAP
Mar, 2025 New	50,000	2,500	2,700	2,000	96.0	13	Nov 11, 2024	J-GAAP
Revision Rate	-7.4%	-16.7%	-12.9%	-20.0%	-20.0%

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	27,778	3,008	3,057	668	32.1	6	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,710	287	313	105	5.0	6	Nov 11, 2024	J-GAAP
YoY	-21.8%	-90.5%	-89.8%	-84.3%	-84.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	48,601	1,146	1,095	787	37.8	7	May 12, 2023	J-GAAP
Mar, 2024	52,771	4,374	4,537	1,773	85.2	11	May 13, 2024	J-GAAP
Mar, 2025 Guidance	50,000	2,500	2,700	2,000	96.0	13	Nov 11, 2024	J-GAAP
YoY	-5.3%	-42.8%	-40.5%	+12.8%	+12.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,882	1,157	1,124	829	39.8	8.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,718	1,381	1,389	1,185	56.9	10.1	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	14,060	1,627	1,668	-517	-24.8	11.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	13,873	1,077	1,232	963	46.3	7.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	14,417	1,136	1,155	932	44.8	7.9	Nov 11, 2024	J-GAAP
YoY	+3.9%	-1.8%	+2.8%	+12.4%	+12.4%