Wakou Shokuhin Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 2%

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Thu Nov 14, 2024 1:00 pm JST Earnings

2813 Wakou Shokuhin Co.,Ltd. 【J-GAAP】

Earnings Report

Wakou Shokuhin Co.,Ltd. <2813> [TSE-S] announced its financial results in the afternoon session on November 14th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.7% from the same period last year, reaching 648 million yen.

However, the full-year consolidated ordinary profit has downwardly by 1.5%, from the previous forecast of 1.85 billion yen to 1.82 billion yen (compared to 1.54 billion yen in the previous period), leading to a reduction in the profit growth rate from 20.2% to 18.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 22.4% from the same period last year, reaching 1.17 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 7.0% from the same period last year, reaching 245 million yen. The operating profit margin improved from 6.1% 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	6,595	471	526	857	346.5	50.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	7,197	559	580	403	162.3	37.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	7,759	636	648	483	194.0	35.5	Nov 14, 2024	J-GAAP
YoY	+7.8%	+13.8%	+11.7%	+19.9%	+19.5%

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	8,083	689	710	512	205.4	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	7,759	636	648	483	194.0	0	Nov 14, 2024	J-GAAP
Revision Rate	-4.0%	-7.7%	-8.7%	-5.7%	-5.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	17,320	1,829	1,851	1,339	537.3	81	May 15, 2024	J-GAAP
Mar, 2025 New	16,843	1,810	1,823	1,334	535.2	81	Nov 14, 2024	J-GAAP
Revision Rate	-2.8%	-1.0%	-1.5%	-0.4%	-0.4%

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	8,219	930	960	687	276.2	66	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,084	1,174	1,175	851	341.5	81	Nov 14, 2024	J-GAAP
YoY	+10.5%	+26.2%	+22.4%	+23.9%	+23.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,502	972	1,035	1,250	504.6	21.67	May 12, 2023	J-GAAP
Mar, 2024	15,416	1,489	1,540	1,090	438.2	66	May 15, 2024	J-GAAP
Mar, 2025 Guidance	16,843	1,810	1,823	1,334	535.2	81	Nov 14, 2024	J-GAAP
YoY	+9.3%	+21.6%	+18.4%	+22.4%	+22.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,560	217	229	159	64.1	6.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	4,318	510	522	385	154.8	11.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	3,901	420	438	302	121.4	10.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,906	387	403	313	126.0	9.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,853	249	245	170	68.3	6.5	Nov 14, 2024	J-GAAP
YoY	+8.2%	+14.7%	+7.0%	+6.9%	+6.6%