FUKUYAMA TRANSPORTING CO., LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 30% Decrease

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Tue Nov 12, 2024 3:20 pm JST Earnings

9075 FUKUYAMA TRANSPORTING CO., LTD. 【J-GAAP】

Earnings Report

FUKUYAMA TRANSPORTING CO., LTD. <9075> [TSE-P] announced its financial results in the afternoon session on November 12th (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.1% from the same period last year to 6.09 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 32.6%, from the previous forecast of 13.5 billion yen to 9.1 billion yen (compared to 12.9 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 29.9% decrease in profit.

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 drop by 48.1% from the same period last year to 3.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.7 billion yen, a 18.6% decrease compared to the same period last year. The operating profit margin worsened from 2.8% in the same period last year to 1.8%.

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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	145,325	11,688	12,350	8,056	199.1	53.7	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	141,229	6,237	7,175	4,384	108.3	55.3	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	146,804	4,485	6,090	5,460	135.0	66.9	Nov 12, 2024	J-GAAP
YoY	+3.9%	-28.1%	-15.1%	+24.5%	+24.6%

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	145,800	5,700	6,600	6,400	158.4	35	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	146,804	4,485	6,090	5,460	135.0	35	Nov 12, 2024	J-GAAP
Revision Rate	+0.7%	-21.3%	-7.7%	-14.7%	-14.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	301,300	12,000	13,500	11,300	283.1	70	May 15, 2024	J-GAAP
Mar, 2025 New	300,700	6,700	9,100	8,000	200.4	70	Nov 12, 2024	J-GAAP
Revision Rate	-0.2%	-44.2%	-32.6%	-29.2%	-29.2%

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	146,334	4,211	5,798	3,450	85.2	40	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	153,896	2,215	3,010	2,540	63.6	35	Nov 12, 2024	J-GAAP
YoY	+5.2%	-47.4%	-48.1%	-26.4%	-25.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	293,358	21,375	22,985	20,791	513.7	70	May 15, 2023	J-GAAP
Mar, 2024	287,563	10,448	12,973	7,834	193.6	75	May 15, 2024	J-GAAP
Mar, 2025 Guidance	300,700	6,700	9,100	8,000	200.4	70	Nov 12, 2024	J-GAAP
YoY	+4.6%	-35.9%	-29.9%	+2.1%	+3.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	69,544	1,949	2,098	1,003	24.8	2.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	77,025	4,707	5,348	3,063	75.7	6.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	69,309	-496	450	387	9.6	-0.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	73,734	3,175	4,382	3,610	89.2	4.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	73,070	1,310	1,708	1,850	45.8	1.8	Nov 12, 2024	J-GAAP
YoY	+5.1%	-32.8%	-18.6%	+84.4%	+84.6%