Sun* Inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 33% Decrease

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Wed Nov 13, 2024 3:30 pm JST Earnings

4053 Sun* Inc. 【J-GAAP】

Earnings Report

Sun* Inc. <4053> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 28.7% from the same period last year to 1.23 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 34.1%, from the previous forecast of 2.29 billion yen to 1.51 billion yen (compared to 2.27 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 33.5% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 48.9%, from the previous forecast of 1.6 billion yen to 819 million yen (compared to 1.25 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 34.9% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 534 million yen, a 24.4% decrease compared to the same period last year. The operating profit margin decreased from 15.0% in the same period last year to 11.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	7,990	649	812	622	16.5	71.0	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	9,284	1,336	1,727	1,204	31.7	75.8	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	9,995	1,109	1,231	902	23.7	81.2	Nov 13, 2024	J-GAAP
YoY	+7.7%	-17.0%	-28.7%	-25.1%	-25.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	8,544	1,435	1,602	1,312	34.6	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	7,090	773	819	608	16.0	0	Nov 13, 2024	J-GAAP
Revision Rate	-17.0%	-46.1%	-48.9%	-53.7%	-53.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	15,061	2,162	2,299	1,780	46.9	0	Feb 9, 2024	J-GAAP
Dec, 2024 New	13,607	1,500	1,516	1,076	28.4	0	Nov 13, 2024	J-GAAP
Revision Rate	-9.7%	-30.6%	-34.1%	-39.6%	-39.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	6,395	914	1,258	853	22.4	0	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	7,090	773	819	608	16.0	0	Nov 13, 2024	J-GAAP
YoY	+10.9%	-15.4%	-34.9%	-28.7%	-28.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	10,745	902	1,144	823	21.8	0	Feb 8, 2023	J-GAAP
Dec, 2023	12,516	1,775	2,279	1,569	41.3	0	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	13,607	1,500	1,516	1,076	28.4	0	Nov 13, 2024	J-GAAP
YoY	+8.7%	-15.5%	-33.5%	-31.4%	-31.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,163	475	706	488	12.8	15.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	3,232	439	552	365	9.6	13.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,418	569	582	408	10.7	16.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	3,099	158	115	60	1.6	5.1	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	3,478	382	534	434	11.4	11.0	Nov 13, 2024	J-GAAP
YoY	+10.0%	-19.6%	-24.4%	-11.1%	-11.1%