MARCHE CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 82% Decrease

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Thu Nov 14, 2024 3:00 pm JST Earnings

7524 MARCHE CORPORATION 【J-GAAP】

Earnings Report

MARCHE CORPORATION <7524> [TSE-S] announced its financial results in the afternoon session on November 14th (15:00). The ordinary profit/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 13 million yen (compared to a profit of 28 million yen in the same period last year), reversing from the forecast of a 28 million yen to a loss.

In addition, the full-year ordinary profit has downwardly by 83.7%, from the previous forecast of 104 million yen to 17 million yen (compared to 95 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 82.1% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 55.2% from the same period last year to 30 million yen.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a loss of 15 million yen (compared to a profit of 11 million yen in the same period last year). The operating profit/loss margin worsened from 1.1% in the same period last year to -1.2%.

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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	2,178	-228	-214	-325	-40.5	ー	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	2,323	30	28	-4	-0.5	29.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	2,252	-10	-13	-15	-3.4	ー	Nov 14, 2024	J-GAAP
YoY	-3.1%	－	－	-275.0%	-582.0%

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	2,450	30	28	16	2.0	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	2,252	-10	-13	-15	-3.4	0	Nov 14, 2024	J-GAAP
Revision Rate	-8.1%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	5,000	108	104	80	10.0	－	May 13, 2024	J-GAAP
Mar, 2025 New	4,575	24	17	7	0.9	－	Nov 14, 2024	J-GAAP
Revision Rate	-8.5%	-77.8%	-83.7%	-91.3%	-91.3%

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	2,352	61	67	38	2.7	0	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,323	34	30	22	2.7	－	Nov 14, 2024	J-GAAP
YoY	-1.2%	-44.3%	-55.2%	-42.1%	+1.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,614	-388	-371	-590	-73.5	0	May 15, 2023	J-GAAP
Mar, 2024	4,675	91	95	34	2.4	0	May 13, 2024	J-GAAP
Mar, 2025 Guidance	4,575	24	17	7	0.9	－	Nov 14, 2024	J-GAAP
YoY	-2.1%	-73.6%	-82.1%	-79.4%	-64.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,160	13	11	-8	-1.0	1.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	1,274	68	67	74	8.0	5.3	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,078	-7	0	-36	-2.6	-0.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,119	4	2	0	-0.7	0.4	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	1,133	-14	-15	-15	-3.4	-1.2	Nov 14, 2024	J-GAAP
YoY	-2.3%	－	－	-87.5%	-241.0%