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

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%

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