Synchro Food Co.,Ltd., First Half Ordinary Profit Increases by 25%

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Thu Nov 14, 2024 3:30 pm JST Earnings

3963 Synchro Food Co.,Ltd. 【J-GAAP】

Earnings Report

Synchro Food Co.,Ltd. <3963> [TSE-P] 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) increased by 24.7% from the same period last year, reaching 586 million yen. The progress rate against the 1.26 billion yen full-year plan was 46.5%, exceeding the five-year average of 39.4%.

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 grow by 19.1% from the same period last year, reaching 674 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 285 million yen, a 1.0% decrease compared to the same period last year. The operating profit margin decreased from 32.1% in the same period last year to 29.8%.

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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	1,363	403	405	272	10.2	46.1	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	1,741	471	470	321	12.1	45.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	1,967	585	586	394	14.7	46.5	Nov 14, 2024	J-GAAP
YoY	+13.0%	+24.2%	+24.7%	+22.7%	+21.5%

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	ー	ー	ー	ー	－	－	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	1,967	585	586	394	14.7	0	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	1,861	567	566	383	14.4	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,233	675	674	488	18.1	－	Nov 14, 2024	J-GAAP
YoY	+20.0%	+19.0%	+19.1%	+27.4%	+26.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,930	876	878	628	23.6	0	May 12, 2023	J-GAAP
Mar, 2024	3,602	1,038	1,036	704	26.4	10	May 15, 2024	J-GAAP
Mar, 2025 Guidance	4,200	1,260	1,260	882	32.7	－	May 15, 2024	J-GAAP
YoY	+16.6%	+21.4%	+21.6%	+25.3%	+24.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	896	288	288	204	7.7	32.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	913	290	290	197	7.4	31.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	948	277	276	186	7.0	29.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,010	300	301	201	7.5	29.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	957	285	285	193	7.2	29.8	Nov 14, 2024	J-GAAP
YoY	+6.8%	-1.0%	-1.0%	-5.4%	-6.3%