Polaris Holdings Co., Ltd., First Half Ordinary Profit Decreases by 56%, July-September Ordinary Profit Decreases by 69%

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Wed Nov 13, 2024 4:00 pm JST Earnings

3010 Polaris Holdings Co., Ltd. 【J-GAAP】

Earnings Report

Polaris Holdings Co., Ltd. <3010> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 55.9% from the same period last year to 962 million yen. The progress rate against the 1.31 billion yen full-year plan was 73.2%, below the same period of the previous year of 83.6%.

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 decrease by 17.7% from the same period last year to 353 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 675 million yen, a 69.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 21.4% in the same period last year to 14.4%.

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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	3,114	31	-60	-107	-1.1	ー	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	14,120	2,624	2,180	2,555	21.0	83.6	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	10,321	1,245	962	890	7.1	73.2	Nov 13, 2024	J-GAAP
YoY	-26.9%	-52.6%	-55.9%	-65.2%	-66.4%

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	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	10,321	1,245	962	890	7.1	0	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	8,425	758	429	742	6.0	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,757	646	353	583	4.6	3	Nov 13, 2024	J-GAAP
YoY	+15.8%	-14.8%	-17.7%	-21.4%	-24.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,018	3	-215	534	5.0	0	May 15, 2023	J-GAAP
Mar, 2024	22,545	3,382	2,609	3,297	26.9	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	20,078	1,891	1,315	1,473	11.5	3	May 14, 2024	J-GAAP
YoY	-10.9%	-44.1%	-49.6%	-55.3%	-57.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,380	2,441	2,184	2,588	21.3	21.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	4,117	394	204	281	2.3	9.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,308	364	225	461	3.8	8.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,752	442	287	257	2.1	9.3	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	5,569	803	675	633	5.0	14.4	Nov 13, 2024	J-GAAP
YoY	-51.1%	-67.1%	-69.1%	-75.5%	-76.4%