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RHYTHM CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 20%

Thu Nov 14, 2024 4:00 pm JST Earnings

7769 RHYTHM CO.,LTD. 【J-GAAP】

Earnings Report

RHYTHM CO.,LTD. <7769> [TSE-P] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 629 million yen, an increase of 43.3% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 20.0%, from the previous forecast of 2 billion yen to 1.6 billion yen (compared to 1.25 billion yen in the previous period), leading to a reduction in the profit growth rate from 58.9% to 27.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 18.4% from the same period last year, reaching 971 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.2 times that of the same period last year, reaching 235 million yen. The operating profit margin improved from 0.5% in the same period last year to 1.8%.

Kabutan News

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 16,599 433 729 600 72.7 58.5 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 14,538 166 439 -83 -10.1 34.9 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 15,983 347 629 336 40.8 39.3 Nov 14, 2024 J-GAAP
YoY +9.9% +109.0% +43.3% － －

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 17,400 450 600 300 36.3 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 15,983 347 629 336 40.8 0 Nov 14, 2024 J-GAAP
Revision Rate -8.1% -22.9% +4.8% +12.0% +12.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 35,500 1,800 2,000 1,200 145.4 73 May 14, 2024 J-GAAP
Mar, 2025 New 33,000 1,200 1,600 1,000 121.2 73 Nov 14, 2024 J-GAAP
Revision Rate -7.0% -33.3% -20.0% -16.7% -16.7%

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 18,064 564 820 560 67.9 48.50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 17,017 853 971 664 80.4 73 Nov 14, 2024 J-GAAP
YoY -5.8% +51.2% +18.4% +18.6% +18.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 31,231 886 1,246 794 96.2 48.50 May 15, 2023 J-GAAP
Mar, 2024 32,602 730 1,259 477 57.9 48.50 May 14, 2024 J-GAAP
Mar, 2025 Guidance 33,000 1,200 1,600 1,000 121.2 73 Nov 14, 2024 J-GAAP
YoY +1.2% +64.4% +27.1% +109.6% +109.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,568 35 109 18 2.2 0.5 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 8,902 390 460 169 20.5 4.4 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 9,162 174 360 391 47.4 1.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 8,153 206 394 243 29.5 2.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 7,830 141 235 93 11.3 1.8 Nov 14, 2024 J-GAAP
YoY +3.5% +302.9% +115.6% +416.7% +413.2%

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