Sanyo Electric Railway Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Wed Nov 13, 2024 3:30 pm JST Earnings

9052 Sanyo Electric Railway Co.,Ltd. 【J-GAAP】

Earnings Report

Sanyo Electric Railway Co.,Ltd. <9052> [TSE-P] 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 21.1% from the same period last year to 2.25 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 5.1%, from the previous forecast of 3.6 billion yen to 3.79 billion yen (compared to 4.46 billion yen in the previous period), and the declining rate is expected to decrease from 19.2% to 15.1%.

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 decrease by 4.5% from the same period last year to 1.53 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 820 million yen, a 17.1% decrease compared to the same period last year. The operating profit margin decreased from 10.4% in the same period last year to 9.4%.

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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	17,266	1,495	1,545	1,067	48.1	40.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	20,604	2,795	2,859	1,992	89.7	64.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	18,680	2,192	2,255	1,594	71.8	59.5	Nov 13, 2024	J-GAAP
YoY	-9.3%	-21.6%	-21.1%	-20.0%	-19.9%

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	－	15	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	18,680	2,192	2,255	1,594	71.8	15	Nov 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	38,051	3,572	3,609	2,513	113.1	30	Aug 8, 2024	J-GAAP
Mar, 2025 New	38,055	3,745	3,792	2,684	120.8	30	Nov 13, 2024	J-GAAP
Revision Rate	+0.0%	+4.8%	+5.1%	+6.8%	+6.8%

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	18,616	1,531	1,610	1,118	50.3	15	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,375	1,553	1,537	1,090	49.1	15	Nov 13, 2024	J-GAAP
YoY	+4.1%	+1.4%	-4.5%	-2.5%	-2.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,913	3,491	3,804	2,664	119.9	30	May 12, 2023	J-GAAP
Mar, 2024	39,220	4,326	4,469	3,110	140.0	30	May 14, 2024	J-GAAP
Mar, 2025 Guidance	38,055	3,745	3,792	2,684	120.8	30	Nov 13, 2024	J-GAAP
YoY	-3.0%	-13.4%	-15.1%	-13.7%	-13.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,724	1,014	989	688	31.0	10.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	9,023	1,093	1,152	811	36.5	12.1	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	9,593	438	458	307	13.8	4.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	9,374	1,313	1,435	996	44.9	14.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	9,306	879	820	598	26.9	9.4	Nov 13, 2024	J-GAAP
YoY	-4.3%	-13.3%	-17.1%	-13.1%	-13.0%