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

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 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 16.9 Nov 14, 2024 J-GAAP
YoY +20.0% +19.0% +19.1% +27.4% +17.8%

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 30.6 May 15, 2024 J-GAAP
YoY +16.6% +21.4% +21.6% +25.3% +15.8%

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%

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