OHISHI SANGYO CO.,LTD., First Half Ordinary Profit Decreases by 35%, July-September Ordinary Profit Decreases by 45%

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Thu Nov 14, 2024 3:30 pm JST Earnings

3943 OHISHI SANGYO CO.,LTD. 【J-GAAP】

Earnings Report

OHISHI SANGYO CO.,LTD. <3943> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.6% from the same period last year to 469 million yen. The progress rate against the 1.4 billion yen full-year plan was 33.5%, also falling below the five-year average of 50.9%.

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 expand by 47.8% from the same period last year, reaching 931 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 176 million yen, a 45.0% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 3.3%.

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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	10,736	710	891	630	81.7	63.7	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	10,811	566	717	608	78.6	53.2	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	11,440	386	469	444	57.3	33.5	Nov 14, 2024	J-GAAP
YoY	+5.8%	-31.8%	-34.6%	-27.0%	-27.1%

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	－	16	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	11,440	386	469	444	57.3	16	Nov 14, 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	11,153	520	630	457	59.0	16	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,010	784	931	581	74.6	16	Nov 14, 2024	J-GAAP
YoY	+7.7%	+50.8%	+47.8%	+27.1%	+26.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,788	1,125	1,398	902	116.8	32	May 12, 2023	J-GAAP
Mar, 2024	21,964	1,086	1,347	1,065	137.5	32	May 10, 2024	J-GAAP
Mar, 2025 Guidance	23,450	1,170	1,400	1,025	131.6	32	Aug 22, 2024	J-GAAP
YoY	+6.8%	+7.7%	+3.9%	-3.8%	-4.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,277	259	320	386	49.9	4.9	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	5,762	269	305	180	23.3	4.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	5,391	251	325	277	35.8	4.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,726	196	293	311	40.2	3.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	5,714	190	176	133	17.2	3.3	Nov 14, 2024	J-GAAP
YoY	+8.3%	-26.6%	-45.0%	-65.5%	-65.6%