RIX CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 8%, Dividend Revised Upward by 7 yen

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Tue Nov 12, 2024 2:00 pm JST Earnings

7525 RIX CORPORATION 【J-GAAP】

Earnings Report

RIX CORPORATION <7525> [TSE-P] announced its financial results in the afternoon session on November 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.8% from the same period last year to 1.89 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 7.6%, from the previous forecast of 3.4 billion yen to 3.66 billion yen (compared to 3.93 billion yen in the previous period), and the declining rate is expected to decrease from 13.6% to 7.0%.

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 decrease by 7.1% from the same period last year to 1.76 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 113 yen to 120 yen (compared to 141 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 906 million yen, a 14.0% decrease compared to the same period last year. The operating profit margin worsened from 8.3% in the same period last year to 6.6%.

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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	21,179	1,413	1,734	1,176	143.9	46.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	23,656	1,757	2,031	1,419	175.6	51.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	26,009	1,696	1,893	1,213	150.0	51.7	Nov 12, 2024	J-GAAP
YoY	+9.9%	-3.5%	-6.8%	-14.5%	-14.6%

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	25,300	1,600	1,650	1,080	133.4	53	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	26,009	1,696	1,893	1,213	150.0	53	Nov 12, 2024	J-GAAP
Revision Rate	+2.8%	+6.0%	+14.7%	+12.3%	+12.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	51,000	3,300	3,400	2,300	284.0	113	May 15, 2024	J-GAAP
Mar, 2025 New	52,000	3,450	3,660	2,440	301.3	120	Nov 12, 2024	J-GAAP
Revision Rate	+2.0%	+4.5%	+7.6%	+6.1%	+6.1%

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	26,096	1,787	1,903	1,360	168.3	71	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,991	1,754	1,767	1,227	151.5	67	Nov 12, 2024	J-GAAP
YoY	-0.4%	-1.8%	-7.1%	-9.8%	-9.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,223	3,326	3,748	2,763	340.0	135	May 16, 2023	J-GAAP
Mar, 2024	49,752	3,544	3,934	2,779	343.8	141	May 15, 2024	J-GAAP
Mar, 2025 Guidance	52,000	3,450	3,660	2,440	301.3	120	Nov 12, 2024	J-GAAP
YoY	+4.5%	-2.7%	-7.0%	-12.2%	-12.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,235	1,011	1,054	723	89.5	8.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,396	1,038	1,118	781	96.6	7.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	12,700	749	785	579	71.6	5.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	12,362	791	987	574	71.1	6.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	13,647	905	906	639	79.0	6.6	Nov 12, 2024	J-GAAP
YoY	+11.5%	-10.5%	-14.0%	-11.6%	-11.7%