Satoh&Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 12%

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Wed Nov 13, 2024 3:30 pm JST Earnings

9996 Satoh&Co.,Ltd. 【J-GAAP】

Earnings Report

Satoh&Co.,Ltd. <9996> [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) increased by 12.1% from the same period last year, reaching 938 million yen, resulting in an increase in profits compared to the previous forecast of a 9.0% decrease.

The progress rate against the 1.78 billion yen full-year plan was 52.5%, also surpassing the five-year average of 45.5%.

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 decrease by 7.8% from the same period last year to 847 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 22.4% from the same period last year, reaching 524 million yen. The operating profit margin improved from 3.3% in the same period last year to 3.9%.

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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	20,765	648	731	498	59.8	54.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	23,136	729	837	568	68.1	47.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	24,097	801	938	639	76.7	52.5	Nov 13, 2024	J-GAAP
YoY	+4.2%	+9.9%	+12.1%	+12.5%	+12.5%

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	24,233	659	762	511	61.3	22	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	24,097	801	938	639	76.7	22	Nov 13, 2024	J-GAAP
Revision Rate	-0.6%	+21.5%	+23.1%	+25.0%	+25.1%

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	24,470	798	919	659	79.1	20	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,333	759	847	606	72.7	23	Nov 13, 2024	J-GAAP
YoY	+3.5%	-4.9%	-7.8%	-8.0%	-8.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	43,667	1,240	1,354	968	116.1	31	May 12, 2023	J-GAAP
Mar, 2024	47,606	1,527	1,756	1,227	147.2	40	May 13, 2024	J-GAAP
Mar, 2025 Guidance	49,430	1,560	1,785	1,245	149.3	45	May 13, 2024	J-GAAP
YoY	+3.8%	+2.2%	+1.7%	+1.5%	+1.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,538	378	428	289	34.7	3.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,184	596	661	453	54.4	4.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	11,286	202	258	206	24.7	1.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	11,994	326	414	283	34.0	2.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,103	475	524	356	42.7	3.9	Nov 13, 2024	J-GAAP
YoY	+4.9%	+25.7%	+22.4%	+23.2%	+23.2%