IWABUCHI CORPORATION, First Half Ordinary Profit Increases by 27%, July-September Ordinary Profit Increases by 6%

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Wed Nov 13, 2024 3:45 pm JST Earnings

5983 IWABUCHI CORPORATION 【J-GAAP】

Earnings Report

IWABUCHI CORPORATION <5983> [TSE-S] announced its financial results after the market closed on November 13th (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 27.3% from the same period last year, reaching 415 million yen. The progress rate against the 735 million yen full-year plan was 56.5%, also surpassing the five-year average of 33.3%.

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 drop by 46.4% from the same period last year to 320 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 6.5% from the same period last year, reaching 231 million yen. However, the operating profit margin worsened from 7.2% in the same period last year to 6.5%.

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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	5,250	46	84	25	23.4	24.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	5,503	304	326	258	240.6	35.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	5,850	355	415	266	247.9	56.5	Nov 13, 2024	J-GAAP
YoY	+6.3%	+16.8%	+27.3%	+3.1%	+3.0%

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	－	110	May 20, 2024	J-GAAP
Apr - Sep, 2024 Results	5,850	355	415	266	247.9	110	Nov 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	6,265	548	597	416	387.5	120	May 20, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,059	301	320	245	228.2	110	Nov 13, 2024	J-GAAP
YoY	-3.3%	-45.1%	-46.4%	-41.1%	-41.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,082	255	348	785	731.3	200	May 22, 2023	J-GAAP
Mar, 2024	11,768	852	923	674	627.9	220	May 20, 2024	J-GAAP
Mar, 2025 Guidance	11,909	656	735	511	475.9	220	May 20, 2024	J-GAAP
YoY	+1.2%	-23.0%	-20.4%	-24.2%	-24.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,049	219	217	168	156.7	7.2	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	3,155	228	283	196	182.6	7.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,110	320	314	220	204.9	10.3	May 20, 2024	J-GAAP
Apr - Jun, 2024	2,800	157	184	121	112.8	5.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	3,050	198	231	145	135.1	6.5	Nov 13, 2024	J-GAAP
YoY	+0.0%	-9.6%	+6.5%	-13.7%	-13.7%