Business Engineering Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 2%, Adds to Record High Profit Forecast

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Tue Nov 12, 2024 11:00 am JST Earnings

4828 Business Engineering Corporation 【J-GAAP】

Earnings Report

Business Engineering Corporation <4828> [TSE-P] announced its financial results in the morning on November 12th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 14.3% from the same period last year, reaching 2.43 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 2.4%, from the previous forecast of 4.2 billion yen to 4.3 billion yen (compared to 3.87 billion yen in the previous period), increasing the growth rate from 8.3% to 10.9%, further surpassing the previous forecast of record-high profits for nine consecutive terms.

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 grow by 6.8% from the same period last year, reaching 1.87 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 11.8% from the same period last year, reaching 1.24 billion yen. The operating profit margin rose from 21.8% in the same period last year to 24.8%.

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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	8,859	1,614	1,620	1,090	90.9	49.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	9,808	2,114	2,126	1,443	120.4	54.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	10,092	2,417	2,430	1,658	138.5	56.5	Nov 12, 2024	J-GAAP
YoY	+2.9%	+14.3%	+14.3%	+14.9%	+15.0%

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	10,300	2,150	2,150	1,470	122.8	42	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	10,092	2,417	2,430	1,658	138.5	42	Nov 12, 2024	J-GAAP
Revision Rate	-2.0%	+12.4%	+13.0%	+12.8%	+12.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	20,500	4,200	4,200	2,850	238.0	84	May 10, 2024	J-GAAP
Mar, 2025 New	20,500	4,300	4,300	2,900	242.2	84	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	+2.4%	+2.4%	+1.8%	+1.8%

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	9,685	1,771	1,751	1,182	98.7	46	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,408	1,883	1,870	1,242	103.7	42	Nov 12, 2024	J-GAAP
YoY	+7.5%	+6.3%	+6.8%	+5.1%	+5.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,506	3,246	3,250	2,328	194.0	64	May 12, 2023	J-GAAP
Mar, 2024	19,493	3,885	3,877	2,625	219.1	78	May 10, 2024	J-GAAP
Mar, 2025 Guidance	20,500	4,300	4,300	2,900	242.2	84	Nov 12, 2024	J-GAAP
YoY	+5.2%	+10.7%	+10.9%	+10.5%	+10.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,105	1,114	1,115	759	63.3	21.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	4,781	1,008	1,006	689	57.5	21.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	4,904	763	745	493	41.2	15.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,042	1,167	1,183	803	67.1	23.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	5,050	1,250	1,247	855	71.4	24.8	Nov 12, 2024	J-GAAP
YoY	-1.1%	+12.2%	+11.8%	+12.6%	+12.8%