Fast Fitness Japan Incorporated, First Half Ordinary Profit Decreases by 30%, Current Fiscal Year Dividend Revised to 45 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

7092 Fast Fitness Japan Incorporated 【J-GAAP】

Earnings Report

Fast Fitness Japan Incorporated <7092> [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) dropped by 30.3% from the same period last year to 1.46 billion yen. The progress rate against the 3.15 billion yen full-year plan was 46.5%, almost the same as the five-year average of 47.9%.

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 grow by 9.8% from the same period last year, reaching 1.68 billion yen.

At the same time, the company has been revised its planned annual dividend for the current fiscal year, from the original plan of 33～45 yen to 45 yen (compared to 45 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 835 million yen, a 19.9% decrease compared to the same period last year. The operating profit margin decreased from 24.6% in the same period last year to 18.5%.

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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	7,200	1,631	1,639	1,024	54.8	48.2	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	7,821	2,000	2,100	1,330	71.1	57.8	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	8,634	1,436	1,464	896	47.9	46.5	Nov 14, 2024	J-GAAP
YoY	+10.4%	-28.2%	-30.3%	-32.6%	-32.7%

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	－	15	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	8,634	1,436	1,464	896	47.9	20	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,150	3,250	3,150	1,800	96.1	33	May 14, 2024	J-GAAP
Mar, 2025 New	19,150	3,250	3,150	1,800	96.1	45	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	8,004	1,504	1,535	793	42.4	35	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,516	1,814	1,686	904	48.2	25	Nov 14, 2024	J-GAAP
YoY	+31.4%	+20.6%	+9.8%	+14.0%	+13.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,787	3,364	3,402	1,914	102.4	25	May 15, 2023	J-GAAP
Mar, 2024	15,825	3,504	3,635	2,123	113.5	45	May 14, 2024	J-GAAP
Mar, 2025 Guidance	19,150	3,250	3,150	1,800	96.1	45	Nov 14, 2024	J-GAAP
YoY	+21.0%	-7.2%	-13.3%	-15.2%	-15.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,847	947	1,043	605	32.4	24.6	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	3,983	864	877	561	30.0	21.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	4,021	640	658	232	12.4	15.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,234	623	629	375	20.1	14.7	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	4,400	813	835	521	27.8	18.5	Nov 14, 2024	J-GAAP
YoY	+14.4%	-14.1%	-19.9%	-13.9%	-14.0%