SHOEI CORPORATION, First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

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Tue Nov 12, 2024 4:00 pm JST Earnings

9385 SHOEI CORPORATION 【J-GAAP】

Earnings Report

SHOEI CORPORATION <9385> [TSE-S] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 396 million yen (compared to a profit of 990 million yen in the same period last year).

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 surge by 4.0 times that of the same period last year, reaching 1.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 615 million yen (compared to a profit of 270 million yen in the same period last year). However, the operating profit margin improved from 3.3% in the same period last year to 4.9%.

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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	10,226	-30	63	71	9.3	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	9,733	333	990	947	122.6	68.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	9,612	450	-396	-455	-58.9	ー	Nov 12, 2024	J-GAAP
YoY	-1.2%	+35.1%	－	－	－

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	9,612	450	-396	-455	-58.9	0	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	9,713	443	453	62	8.0	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,106	983	1,808	1,444	186.9	20	Nov 12, 2024	J-GAAP
YoY	+14.3%	+121.9%	+299.1%	+2,229.0%	+2,230.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,745	154	-332	-1,617	-209.3	20	May 15, 2023	J-GAAP
Mar, 2024	19,446	776	1,443	1,009	130.6	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	20,718	1,433	1,412	989	128.0	20	May 14, 2024	J-GAAP
YoY	+6.5%	+84.7%	-2.1%	-2.0%	-2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,752	158	270	372	48.2	3.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	5,006	249	282	192	24.9	5.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	4,707	194	171	-130	-16.8	4.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,749	211	219	132	28.4	4.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,863	239	-615	-587	-76.0	4.9	Nov 12, 2024	J-GAAP
YoY	+2.3%	+51.3%	－	－	－