JTP CO.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 32%

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Thu Nov 14, 2024 3:30 pm JST Earnings

2488 JTP CO.,Ltd. 【J-GAAP】

Earnings Report

JTP CO.,Ltd. <2488> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 341 million yen, an increase of 32.2% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 0.8% decrease.

The progress rate against the 680 million yen full-year plan was 50.1%, also surpassing the five-year average of 37.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 16.7% from the same period last year to 339 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 27.9% from the same period last year, reaching 243 million yen. The operating profit margin improved from 9.2% in the same period last year to 10.8%.

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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	3,544	206	228	151	27.2	47.9	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	3,899	243	258	183	32.6	38.8	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	4,381	345	341	225	39.9	50.1	Nov 14, 2024	J-GAAP
YoY	+12.4%	+42.0%	+32.2%	+23.0%	+22.4%

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	4,150	256	256	182	32.1	12	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	4,381	345	341	225	39.9	12	Nov 14, 2024	J-GAAP
Revision Rate	+5.6%	+34.8%	+33.2%	+23.6%	+24.4%

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	4,220	388	407	299	53.1	31	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,341	335	339	265	46.7	25	Nov 14, 2024	J-GAAP
YoY	+2.9%	-13.7%	-16.7%	-11.4%	-12.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,381	464	476	315	56.2	31	May 15, 2023	J-GAAP
Mar, 2024	8,119	631	665	482	85.7	36	May 13, 2024	J-GAAP
Mar, 2025 Guidance	8,722	680	680	490	86.3	37	May 13, 2024	J-GAAP
YoY	+7.4%	+7.8%	+2.3%	+1.7%	+0.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,015	186	190	128	22.8	9.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	2,068	169	166	110	19.6	8.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,152	219	241	189	33.6	10.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,048	92	98	62	11.1	4.5	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	2,333	253	243	163	28.9	10.8	Nov 14, 2024	J-GAAP
YoY	+15.8%	+36.0%	+27.9%	+27.3%	+26.7%