Koyou Rentia Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 25% Decrease

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Wed Nov 13, 2024 4:00 pm JST Earnings

7081 Koyou Rentia Co.,Ltd. 【J-GAAP】

Earnings Report

Koyou Rentia Co.,Ltd. <7081> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 22.0% from the same period last year to 1.68 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 28.8%, from the previous forecast of 2.6 billion yen to 1.85 billion yen (compared to 2.47 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.3% 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 52.5%, from the previous forecast of 1.42 billion yen to 679 million yen (compared to 1.01 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 33.2% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 509 million yen, a 26.4% decrease compared to the same period last year. The operating profit margin worsened from 8.5% in the same period last year to 6.7%.

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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	19,044	1,917	1,914	902	83.4	79.1	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	22,805	2,129	2,153	1,270	117.4	86.9	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	23,635	1,647	1,680	932	85.0	90.8	Nov 13, 2024	J-GAAP
YoY	+3.6%	-22.6%	-22.0%	-26.6%	-27.6%

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	14,667	1,441	1,429	1,010	91.5	30	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	14,667	691	679	610	55.2	30	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	-52.0%	-52.5%	-39.6%	-39.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	31,000	2,600	2,600	1,650	149.4	30	Feb 13, 2024	J-GAAP
Dec, 2024 New	31,000	1,850	1,850	1,250	113.2	30	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	-28.8%	-28.8%	-24.2%	-24.2%

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	16,241	1,001	1,017	731	67.5	27.50	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	14,667	691	679	610	55.2	30	Nov 13, 2024	J-GAAP
YoY	-9.7%	-31.0%	-33.2%	-16.6%	-18.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	26,188	2,430	2,421	1,249	115.4	22.50	Feb 13, 2023	J-GAAP
Dec, 2023	30,960	2,443	2,478	1,604	148.2	27.50	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	31,000	1,850	1,850	1,250	113.2	30	Nov 13, 2024	J-GAAP
YoY	+0.1%	-24.3%	-25.3%	-22.1%	-23.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,086	687	692	397	36.7	8.5	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	8,155	314	325	334	30.9	3.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	8,300	765	772	329	30.1	9.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	8,033	394	399	311	28.4	4.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,302	488	509	292	26.6	6.7	Nov 13, 2024	J-GAAP
YoY	-9.7%	-29.0%	-26.4%	-26.4%	-27.5%