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International Conglomerate of Distribution for Automobile Holdings Co., Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 31%

Thu Nov 14, 2024 4:40 pm JST Earnings

3184 International Conglomerate of Distribution for Automobile Holdings Co., Ltd. 【J-GAAP】

Earnings Report

International Conglomerate of Distribution for Automobile Holdings Co., Ltd. <3184> [TSE-S] announced its financial results after the market closed on November 14th (16:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.06 billion yen, an increase of 31.1% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 17.2% decrease.

The progress rate against the 1.55 billion yen full-year plan was 68.5%, also surpassing the five-year average of 53.5%.

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 significant drop by 52.1% from the same period last year to 489 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 18.4% from the same period last year, reaching 548 million yen. The operating profit margin remained almost flat, changing from 5.6% in the same period last year to 5.8%.

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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 15,093 859 878 565 269.1 62.5 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 15,308 793 809 537 255.8 44.2 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 18,497 1,046 1,061 695 331.1 68.5 Nov 14, 2024 J-GAAP
YoY +20.8% +31.9% +31.1% +29.4% +29.5%

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 16,861 661 670 434 206.7 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 18,497 1,046 1,061 695 331.1 0 Nov 14, 2024 J-GAAP
Revision Rate +9.7% +58.2% +58.4% +60.1% +60.2%

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 17,793 1,004 1,021 393 187.3 50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 16,503 490 489 324 154.3 50 Nov 14, 2024 J-GAAP
YoY -7.3% -51.2% -52.1% -17.6% -17.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 30,496 1,372 1,404 883 420.8 50 May 15, 2023 J-GAAP
Mar, 2024 33,101 1,797 1,830 930 443.3 50 May 14, 2024 J-GAAP
Mar, 2025 Guidance 35,000 1,536 1,550 1,019 485.3 50 May 14, 2024 J-GAAP
YoY +5.7% -14.5% -15.3% +9.6% +9.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 8,180 459 463 307 146.2 5.6 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 8,304 583 588 61 29.1 7.0 Mar 14, 2024 J-GAAP
Jan - Mar, 2024 9,489 421 433 332 158.3 4.4 May 14, 2024 J-GAAP
Apr - Jun, 2024 9,115 500 513 347 165.6 5.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 9,382 546 548 348 165.8 5.8 Nov 14, 2024 J-GAAP
YoY +14.7% +19.0% +18.4% +13.4% +13.4%

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