Chino Corporation, First Half Ordinary Profit Increases by 7%, July-September Ordinary Profit Increases by 20%

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Tue Nov 12, 2024 3:30 pm JST Earnings

6850 Chino Corporation 【J-GAAP】

Earnings Report

Chino Corporation <6850> [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) increased by 7.4% from the same period last year, reaching 1.14 billion yen. The progress rate against the 2.65 billion yen full-year plan was 43.1%, exceeding the five-year average of 32.0%.

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 grow by 11.7% from the same period last year, reaching 1.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 20.5% from the same period last year, reaching 706 million yen. The operating profit margin improved from 8.3% in the same period last year to 9.6%.

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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	10,273	538	770	446	52.7	33.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	12,000	914	1,064	618	72.9	44.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	13,166	1,066	1,143	633	74.6	43.1	Nov 12, 2024	J-GAAP
YoY	+9.7%	+16.6%	+7.4%	+2.4%	+2.4%

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	12,700	980	1,070	650	76.4	25	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	13,166	1,066	1,143	633	74.6	25	Nov 12, 2024	J-GAAP
Revision Rate	+3.7%	+8.8%	+6.8%	-2.6%	-2.4%

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	15,425	1,259	1,349	1,138	134.1	40	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	15,334	1,384	1,507	977	114.9	45	Nov 12, 2024	J-GAAP
YoY	-0.6%	+9.9%	+11.7%	-14.1%	-14.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	23,793	2,018	2,294	1,536	181.2	52	May 12, 2023	J-GAAP
Mar, 2024	27,425	2,173	2,413	1,756	206.9	60	May 13, 2024	J-GAAP
Mar, 2025 Guidance	28,500	2,450	2,650	1,610	189.3	70	May 13, 2024	J-GAAP
YoY	+3.9%	+12.7%	+9.8%	-8.3%	-8.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,483	537	586	356	42.0	8.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	6,931	447	464	478	56.4	6.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,494	812	885	660	77.8	9.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	5,795	358	437	204	24.1	6.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,371	708	706	429	50.6	9.6	Nov 12, 2024	J-GAAP
YoY	+13.7%	+31.8%	+20.5%	+20.5%	+20.5%