FUKUTOME MEAT PACKERS, LTD., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Tue Nov 12, 2024 4:00 pm JST Earnings

2291 FUKUTOME MEAT PACKERS, LTD. 【J-GAAP】

Earnings Report

FUKUTOME MEAT PACKERS, LTD. <2291> [TSE-S] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 331 million yen (compared to a loss of 176 million yen in the same period last year), reversing from the forecast of a 20 million yen to a loss.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 80 million yen to a loss of 490 million yen (compared to a loss of 404 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to further decrease to loss of 159 million yen (compared to a loss of 228 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 190 million yen (compared to a loss of 125 million yen in the same period last year). The operating profit/loss margin worsened from -1.9% in the same period last year to -2.9%.

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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	12,113	-179	-157	-170	-51.2	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	12,673	-199	-176	290	87.0	ー	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	12,312	-351	-331	-344	-103.2	ー	Nov 12, 2024	J-GAAP
YoY	-2.8%	-76.4%	-88.1%	－	－

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	12,920	30	20	0	0.0	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	12,312	-351	-331	-344	-103.2	0	Nov 12, 2024	J-GAAP
Revision Rate	-4.7%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	26,000	100	80	40	12.0	0	May 14, 2024	J-GAAP
Mar, 2025 New	25,200	-520	-490	-520	-155.8	0	Nov 12, 2024	J-GAAP
Revision Rate	-3.1%	－	－	－	－

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	12,520	-220	-228	-140	-42.0	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,888	-169	-159	-176	-52.8	0	Nov 12, 2024	J-GAAP
YoY	+2.9%	+23.2%	+30.3%	-25.7%	-25.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	24,895	-365	-336	-1,194	-358.0	0	May 12, 2023	J-GAAP
Mar, 2024	25,193	-419	-404	150	45.0	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	25,200	-520	-490	-520	-155.8	0	Nov 12, 2024	J-GAAP
YoY	+0.0%	-24.1%	-21.3%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,352	-120	-125	327	98.1	-1.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	6,939	28	32	40	12.0	0.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	5,581	-248	-260	-180	-54.0	-4.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	6,090	-170	-141	-148	-44.6	-2.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,222	-181	-190	-196	-58.8	-2.9	Nov 12, 2024	J-GAAP
YoY	-2.0%	-50.8%	-52.0%	－	－