AOYAMA TRADING Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Dividend Revised Upward by 66 yen

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Tue Nov 12, 2024 4:00 pm JST Earnings

8219 AOYAMA TRADING Co., Ltd. 【J-GAAP】

Earnings Report

AOYAMA TRADING Co., Ltd. <8219> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 71.2% from the same period last year to 518 million yen, fell short of the previous forecast of 1.4 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 4.1%, from the previous forecast of 13.3 billion yen to 13.8 billion yen (compared to 12.5 billion yen in the previous period), increasing the growth rate from 6.4% to 10.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 24.5% from the same period last year, reaching 13.3 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 61 yen to 127 yen (compared to 65 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 1.21 billion yen (compared to a loss of 360 million yen in the same period last year). The operating profit/loss margin worsened from -1.2% in the same period last year to -2.7%.

Kabutan News

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	77,809	-1,775	-438	-2,451	-49.2	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	83,013	1,399	1,797	463	9.3	14.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	84,044	646	518	-630	-12.7	3.7	Nov 12, 2024	J-GAAP
YoY	+1.2%	-53.8%	-71.2%	－	－

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	85,400	1,400	1,400	100	2.0	30	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	84,044	646	518	-630	-12.7	30	Nov 12, 2024	J-GAAP
Revision Rate	-1.6%	-53.9%	-63.0%	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	198,800	13,000	13,300	9,100	187.5	61	May 10, 2024	J-GAAP
Mar, 2025 New	198,600	13,800	13,850	9,100	187.5	127	Nov 12, 2024	J-GAAP
Revision Rate	-0.1%	+6.2%	+4.1%	0.0%	0.0%

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	110,674	10,519	10,706	9,626	193.1	65	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	114,556	13,154	13,332	9,730	200.5	97	Nov 12, 2024	J-GAAP
YoY	+3.5%	+25.0%	+24.5%	+1.1%	+3.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	185,580	7,473	8,734	4,278	85.9	26	May 12, 2023	J-GAAP
Mar, 2024	193,687	11,918	12,503	10,089	202.4	65	May 10, 2024	J-GAAP
Mar, 2025 Guidance	198,600	13,800	13,850	9,100	187.5	127	Nov 12, 2024	J-GAAP
YoY	+2.5%	+15.8%	+10.8%	-9.8%	-7.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	38,709	-457	-360	-767	-15.4	-1.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	48,214	2,993	2,928	2,085	41.8	6.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	62,460	7,526	7,778	7,541	151.3	12.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	44,979	1,695	1,732	800	16.1	3.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	39,065	-1,049	-1,214	-1,430	-28.7	-2.7	Nov 12, 2024	J-GAAP
YoY	+0.9%	-129.5%	-237.2%	-86.4%	-86.3%