JAPAN RELIANCE SERVICE CORPORATION, July-September (2Q) Ordinary Profit Increases by 2.0 times, Current Fiscal Year Dividend Revised Upward by 2 yen

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Wed Nov 13, 2024 3:45 pm JST Earnings

4664 JAPAN RELIANCE SERVICE CORPORATION 【J-GAAP】

Earnings Report

JAPAN RELIANCE SERVICE CORPORATION <4664> [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 5.9% from the same period last year, reaching 250 million yen. The progress rate against the 287 million yen full-year plan was 87.1%, also surpassing the five-year average of 60.0%.

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 42.2% from the same period last year to 37 million yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 22 yen to 24 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.0 times that of the same period last year, reaching 173 million yen. The operating profit margin improved from 3.8% in the same period last year to 5.4%.

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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	2,865	112	116	78	27.1	58.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	4,214	219	236	158	54.2	78.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	5,082	244	250	162	55.7	87.1	Nov 13, 2024	J-GAAP
YoY	+20.6%	+11.4%	+5.9%	+2.5%	+2.7%

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	5,082	244	250	162	56.8	7	Nov 12, 2024	J-GAAP
Apr - Sep, 2024 Results	5,082	244	250	162	55.7	7	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-2.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	8,914	282	287	197	69.1	22	Nov 12, 2024	J-GAAP
Mar, 2025 New	8,914	282	287	197	69.1	24	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	3,883	65	64	87	29.9	13	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,832	38	37	35	12.3	17	Nov 13, 2024	J-GAAP
YoY	-1.3%	-41.5%	-42.2%	-59.8%	-58.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,028	191	198	128	44.2	15	May 11, 2023	J-GAAP
Mar, 2024	8,097	284	300	245	84.1	20	May 13, 2024	J-GAAP
Mar, 2025 Guidance	8,914	282	287	197	69.1	24	Nov 13, 2024	J-GAAP
YoY	+10.1%	-0.7%	-4.3%	-19.6%	-17.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,988	76	86	54	18.5	3.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,872	40	42	74	25.4	2.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,011	25	22	13	4.5	1.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,941	74	77	47	16.0	3.8	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	3,141	170	173	115	39.5	5.4	Nov 13, 2024	J-GAAP
YoY	+58.0%	+123.7%	+101.2%	+113.0%	+113.3%