WASHHOUSE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 77%

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Tue Nov 12, 2024 3:30 pm JST Earnings

6537 WASHHOUSE CO.,LTD. 【J-GAAP】

Earnings Report

WASHHOUSE CO.,LTD. <6537> [TSE-G] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 24 million yen (compared to a loss of 14 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has downwardly by 76.9%, from the previous forecast of 26 million yen to 6 million yen (compared to 26 million yen in the previous period), leading to an increase in the profit decline rate from 0.000% to 76.9%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 50.0%, from the previous forecast of 40 million yen to 20 million yen (compared to 37 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 45.9% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss expanded to a loss of 10 million yen (compared to a loss of 3 million yen in the same period last year). The operating profit/loss margin worsened from -0.6% in the same period last year to -1.8%.

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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	1,412	-72	24	0	0.1	39.3	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	1,390	-27	-14	-14	-2.1	ー	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	1,471	-26	-24	0	0.0	ー	Nov 12, 2024	J-GAAP
YoY	+5.8%	+3.7%	-71.4%	－	+98.6%

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	1,523	53	40	36	5.2	0	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	1,072	20	20	15	2.2	0	Nov 12, 2024	J-GAAP
Revision Rate	-29.6%	-62.3%	-50.0%	-58.3%	-58.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	2,505	36	26	43	6.2	0	Feb 9, 2024	J-GAAP
Dec, 2024 New	2,054	3	6	22	3.2	0	Nov 12, 2024	J-GAAP
Revision Rate	-18.0%	-91.7%	-76.9%	-48.8%	-48.8%

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	1,001	37	37	-19	-2.8	0	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,072	20	20	15	2.2	0	Nov 12, 2024	J-GAAP
YoY	+7.1%	-45.9%	-45.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,921	-54	61	11	1.7	0	Feb 9, 2023	J-GAAP
Dec, 2023	1,914	13	26	-33	-4.8	0	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	2,054	3	6	22	3.2	0	Nov 12, 2024	J-GAAP
YoY	+7.3%	-76.9%	-76.9%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	477	-3	-3	0	0.1	-0.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	524	40	40	-19	-2.8	7.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	449	-35	-31	-6	-0.9	-7.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	533	18	17	13	1.9	3.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	489	-9	-10	-7	-1.1	-1.8	Nov 12, 2024	J-GAAP
YoY	+2.5%	-200.0%	-233.3%	－	－