SPACE SHOWER SKIYAKI HOLDINGS INC., First Half Ordinary Profit Revised Downward to an Unexpected 14%Decrease, Current Fiscal Year Dividend Revised Upward by 3 yen

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Wed Nov 13, 2024 3:30 pm JST Earnings

4838 SPACE SHOWER SKIYAKI HOLDINGS INC. 【J-GAAP】

Earnings Report

SPACE SHOWER SKIYAKI HOLDINGS INC. <4838> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 14.3% from the same period last year to 582 million yen, resulting in a decrease in profits compared to the previous forecast of a 0.3% increase.

The progress rate against the 777 million yen full-year plan was 74.9%, below the five-year average of 82.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 195 million yen (compared to a loss of 60 million yen in the same period last year).

At the same time, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 10 yen to 13 yen (compared to 10 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 339 million yen, a 22.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.4% in the same period last year to 6.1%.

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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	7,591	62	246	215	25.8	43.7	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	8,922	683	679	424	50.7	109.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	10,581	581	582	323	19.4	74.9	Nov 13, 2024	J-GAAP
YoY	+18.6%	-14.9%	-14.3%	-23.8%	-61.7%

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	10,471	675	681	388	23.2	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	10,581	581	582	323	19.4	0	Nov 13, 2024	J-GAAP
Revision Rate	+1.1%	-13.9%	-14.5%	-16.8%	-16.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,578	769	777	406	24.3	10	Aug 9, 2024	J-GAAP
Mar, 2025 New	19,578	769	777	406	24.3	13	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	7,440	-65	-60	-144	-17.2	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,997	188	195	83	5.0	13	Nov 13, 2024	J-GAAP
YoY	+20.9%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,381	153	563	348	41.7	10	May 12, 2023	J-GAAP
Mar, 2024	16,362	618	619	280	33.4	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	19,578	769	777	406	24.3	13	Nov 13, 2024	J-GAAP
YoY	+19.7%	+24.4%	+25.5%	+45.0%	-27.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,821	453	435	265	31.7	9.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,665	-14	-15	-22	-2.6	-0.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,775	-51	-45	-122	-14.6	-1.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,920	233	243	153	9.2	4.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,661	348	339	170	10.2	6.1	Nov 13, 2024	J-GAAP
YoY	+17.4%	-23.2%	-22.1%	-35.8%	-67.7%