JINUSHI Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 1%, Exceeded record profit forecast

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Tue Nov 12, 2024 3:30 pm JST Earnings

3252 JINUSHI Co.,Ltd. 【J-GAAP】

Earnings Report

JINUSHI Co.,Ltd. <3252> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 11.0% from the same period last year, reaching 6.64 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 1.4%, from the previous forecast of 7.3 billion yen to 7.4 billion yen (compared to 5.71 billion yen in the previous period), increasing the growth rate from 27.7% to 29.4%. The company has further increased its previous forecast of record profits for the first time in two years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has been revised upward by 50.0%, from the previous forecast of 200 million yen to 300 million yen (compared to 5 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 96.0% to 94.0%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 455 million yen (compared to a profit of 5.27 billion yen in the same period last year). The operating profit margin sharply declined from 36.1% in the same period last year to 8.4%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	29,770	3,685	3,707	1,349	73.8	62.4	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	25,210	6,042	5,988	4,678	260.3	104.7	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	47,894	7,212	6,645	4,860	279.6	89.8	Nov 12, 2024	J-GAAP
YoY	+90.0%	+19.4%	+11.0%	+3.9%	+7.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	10,071	1,238	200	-242	-11.8	42.50	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	11,071	1,438	300	358	17.4	42.50	Nov 12, 2024	J-GAAP
Revision Rate	+9.9%	+16.2%	+50.0%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	55,000	8,200	7,300	5,000	243.4	85	Feb 13, 2024	J-GAAP
Dec, 2024 New	56,000	8,400	7,400	5,600	272.7	85	Nov 12, 2024	J-GAAP
Revision Rate	+1.8%	+2.4%	+1.4%	+12.0%	+12.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	21,224	5,461	5,007	3,516	199.9	55	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	11,071	1,438	300	358	17.4	42.50	Nov 12, 2024	J-GAAP
YoY	-47.8%	-73.7%	-94.0%	-89.8%	-91.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	49,887	6,411	5,943	3,641	199.2	55	Feb 14, 2023	J-GAAP
Dec, 2023	31,597	6,154	5,718	4,709	267.8	55	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	56,000	8,400	7,400	5,600	272.7	85	Nov 12, 2024	J-GAAP
YoY	+77.2%	+36.5%	+29.4%	+18.9%	+1.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,837	5,349	5,277	3,485	193.9	36.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	6,387	112	-270	31	1.8	1.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	29,729	4,126	4,292	2,758	167.8	13.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	15,200	2,836	2,808	2,484	150.8	18.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,965	250	-455	-382	-22.0	8.4	Nov 12, 2024	J-GAAP
YoY	-80.0%	-95.3%	－	－	－