SEIKO GROUP CORPORATION, First Half Ordinary Profit Increases by 39%, July-September Ordinary Profit Increases by 35%

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Tue Nov 12, 2024 3:30 pm JST Earnings

8050 SEIKO GROUP CORPORATION 【J-GAAP】

Earnings Report

SEIKO GROUP CORPORATION <8050> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 12.8 billion yen, an increase of 38.8% compared to the same period last year. The progress rate against the 18 billion yen full-year plan was 71.3%, almost the same as the five-year average of 72.9%.

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 decrease by 22.3% from the same period last year to 5.16 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 34.5% from the same period last year, reaching 7.41 billion yen. The operating profit margin improved from 7.8% in the same period last year to 10.7%.

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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	129,921	8,847	9,567	5,292	128.3	85.7	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	131,295	8,160	9,247	6,281	152.1	58.2	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	151,001	13,351	12,833	8,667	212.4	71.3	Nov 12, 2024	J-GAAP
YoY	+15.0%	+63.6%	+38.8%	+38.0%	+39.6%

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	ー	ー	ー	ー	－	45	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	151,001	13,351	12,833	8,667	212.4	45	Nov 12, 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	145,512	6,577	6,647	3,770	91.7	42.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	154,999	4,649	5,167	2,833	69.4	45	Nov 12, 2024	J-GAAP
YoY	+6.5%	-29.3%	-22.3%	-24.9%	-24.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	260,504	11,233	11,167	5,028	121.9	75	May 9, 2023	J-GAAP
Mar, 2024	276,807	14,737	15,894	10,051	244.3	80	May 14, 2024	J-GAAP
Mar, 2025 Guidance	306,000	18,000	18,000	11,500	281.6	90	Aug 13, 2024	J-GAAP
YoY	+10.5%	+22.1%	+13.3%	+14.4%	+15.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	68,346	5,337	5,515	3,870	93.7	7.8	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	74,377	5,983	6,074	4,362	105.7	8.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	71,135	594	573	-592	-14.4	0.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	74,040	5,104	5,415	3,492	85.7	6.9	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	76,961	8,247	7,418	5,175	126.8	10.7	Nov 12, 2024	J-GAAP
YoY	+12.6%	+54.5%	+34.5%	+33.7%	+35.3%