SHOEI CO., LTD., 17% Decrease in Ordinary Profit for The Current Fiscal Year, Despite Last Fiscal Year's Dividend Increase, This Fiscal Year to Decrease Dividend

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Fri Nov 15, 2024 1:30 pm JST Earnings

7839 SHOEI CO., LTD. 【J-GAAP】

Earnings Report

SHOEI CO., LTD. <7839> [TSE-P] announced its financial results in the afternoon session on November 15th (13:30). The consolidated ordinary profit for the fiscal year ending September 2024 increased by 6.5% from the previous period to 10.5 billion yen. However, for the fiscal year ending September 2025, the profit is expected to decrease by 16.6% from the previous period to 8.76 billion yen.

At the same time, the company increased the annual dividend for the previous term from 63 yen to 70 yen (compared to 66 yen in the prior term), and has decided to reduce the dividend this fiscal year to 59 yen, a decrease of 11 yen from the previous fiscal year.

In the most recent three-month period, from July to September (4Q), the consolidated ordinary profit increased by 41.1% from the same period last year, reaching 2.44 billion yen. The operating profit margin rose from 19.8% in the same period last year to 24.2%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2022	28,953	8,382	8,503	6,018	112.2	56	Nov 15, 2022	J-GAAP
Sep, 2023	33,616	9,825	9,858	7,068	131.7	66	Nov 15, 2023	J-GAAP
Sep, 2024	35,790	10,330	10,502	7,377	139.9	70	Nov 15, 2024	J-GAAP
YoY	+6.5%	+5.1%	+6.5%	+4.4%	+6.2%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2024 Guidance	35,120	9,630	9,630	6,770	128.8	63	Nov 15, 2023	J-GAAP
Sep, 2024 Results	35,790	10,330	10,502	7,377	139.9	70	Nov 15, 2024	J-GAAP
Revision Rate	+1.9%	+7.3%	+9.1%	+9.0%	+8.6%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	16,454	5,275	5,345	3,738	70.6	0	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	15,200	4,450	4,440	3,020	57.5	0	Nov 15, 2024	J-GAAP
YoY	-7.6%	-15.6%	-16.9%	-19.2%	-18.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2023	33,616	9,825	9,858	7,068	131.7	66	Nov 15, 2023	J-GAAP
Sep, 2024	35,790	10,330	10,502	7,377	139.9	70	Nov 15, 2024	J-GAAP
Sep, 2025 Guidance	33,920	8,770	8,760	6,220	118.4	59	Nov 15, 2024	J-GAAP
YoY	-5.2%	-15.1%	-16.6%	-15.7%	-15.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,025	1,788	1,730	1,379	25.7	19.8	Nov 15, 2023	J-GAAP
Oct - Dec, 2023	8,145	2,835	2,727	1,913	35.9	34.8	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	8,309	2,440	2,618	1,825	34.5	29.4	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	9,042	2,564	2,716	1,885	35.7	28.4	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	10,294	2,491	2,441	1,754	33.3	24.2	Nov 15, 2024	J-GAAP
YoY	+14.1%	+39.3%	+41.1%	+27.2%	+29.4%