SEIWA CHUO HOLDINGS CORPORATION, The Current Fiscal Year Net Income Revised Downward to a Loss, Dividend Revised down by 5 yen

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Thu Nov 14, 2024 3:40 pm JST Earnings

7531 SEIWA CHUO HOLDINGS CORPORATION 【J-GAAP】

Earnings Report

SEIWA CHUO HOLDINGS CORPORATION <7531> [TSE-S] announced its financial results after the market closed on November 14th (15:40). The consolidated net income/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a loss of 17 million yen (compared to a profit of 7 million yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 290 million yen to a loss of 57 million yen (compared to a profit of 103 million yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the July to December period (second half) has been revised downward from an expected profit of 257 million yen to a loss of 90 million yen (compared to a loss of 63 million yen in the same period of the previous year), turning to a loss outlook.

Due to a decline in performance, the company has significantly reduced its planned year-end lump-sum dividend for the current fiscal year from the original plan of 15 yen to 10 yen (compared to 15 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated net loss improved to a deficit of loss of 50 million yen (compared to a loss of 159 million yen in the same period last year). The operating profit/loss margin remained almost flat, changing from -0.7% in the same period last year to -0.5%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	40,902	716	809	514	130.5	87.3	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	48,241	67	168	7	2.0	56.0	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	39,576	8	100	-17	-4.5	166.7	Nov 14, 2024	J-GAAP
YoY	-18.0%	-88.1%	-40.5%	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	31,115	257	295	257	65.3	15	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	23,115	-102	-75	-90	-22.9	10	Nov 14, 2024	J-GAAP
Revision Rate	-25.7%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	59,000	320	430	290	73.7	15	Feb 14, 2024	J-GAAP
Dec, 2024 New	51,000	-39	60	-57	-14.5	10	Nov 14, 2024	J-GAAP
Revision Rate	-13.6%	－	-86.0%	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	30,243	-12	40	-63	-16.1	15	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	23,115	-102	-75	-90	-22.9	10	Nov 14, 2024	J-GAAP
YoY	-23.6%	-750.0%	－	-42.9%	-42.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	57,550	806	927	610	155.0	30	Feb 14, 2023	J-GAAP
Dec, 2023	62,577	165	300	103	26.2	15	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	51,000	-39	60	-57	-14.5	10	Nov 14, 2024	J-GAAP
YoY	-18.5%	－	-80.0%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,907	-110	-92	-159	-44.3	-0.7	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	14,336	98	132	96	24.5	0.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	14,661	30	66	13	3.4	0.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	13,224	33	69	20	5.2	0.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	11,691	-55	-35	-50	-13.3	-0.5	Nov 14, 2024	J-GAAP
YoY	-26.5%	+50.0%	+62.0%	+68.6%	+69.9%