SATO FOODS, First Half Ordinary Profit Decreases by 8%

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Tue Dec 10, 2024 3:30 pm JST Earnings

2923 SATO FOODS CO., LTD. 【J-GAAP】

Earnings Report

SATO FOODS CO., LTD. <2923> [TSE Std] announced its financial results after the market closed on December 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) decreased 8.0% from the same period last year to 1.07 billion yen. The progress rate toward the full-year plan of 2.45 billion yen was 43.8%, which was higher than the five-year average of 35.1%.

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 November to April period (second half) is expected to decrease 25.3% from the same period last year to 1.37 billion yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit decreased to 824 million yen, a 5.1% decrease compared to the same period last year. The operating profit margin worsened from 8.2% in the same period last year to 6.5%.

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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
May - Oct, 2022	15,906	698	904	650	128.9	34.8	Dec 7, 2022	J-GAAP
May - Oct, 2023	16,574	986	1,166	834	165.5	38.8	Dec 13, 2023	J-GAAP
May - Oct, 2024	18,647	862	1,073	731	145.1	43.8	Dec 10, 2024	J-GAAP
YoY	+12.5%	-12.6%	-8.0%	-12.4%	-12.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Guidance	ー	ー	ー	ー	－	0	Sep 10, 2024	J-GAAP
May - Oct, 2024 Results	18,647	862	1,073	731	145.1	0	Dec 10, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov - Apr, 2023	26,007	1,670	1,843	1,461	289.8	60	Jun 13, 2024	J-GAAP
Nov - Apr, 2024 Guidance	26,353	1,238	1,377	979	194.1	60	Dec 10, 2024	J-GAAP
YoY	+1.3%	-25.9%	-25.3%	-33.0%	-33.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	39,666	2,250	2,599	1,841	365.1	55	Jun 13, 2023	J-GAAP
Apr, 2024	42,581	2,656	3,009	2,295	455.2	60	Jun 13, 2024	J-GAAP
Apr, 2025 Guidance	45,000	2,100	2,450	1,710	339.0	60	Sep 10, 2024	J-GAAP
YoY	+5.7%	-20.9%	-18.6%	-25.5%	-25.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	9,655	794	868	607	120.5	8.2	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	17,266	2,246	2,361	1,610	319.3	13.0	Mar 14, 2024	J-GAAP
Feb - Apr, 2024	8,741	-576	-518	-149	-29.6	-6.6	Jun 13, 2024	J-GAAP
May - Jul, 2024	7,548	141	249	170	33.9	1.9	Sep 10, 2024	J-GAAP
Aug - Oct, 2024	11,099	721	824	561	111.4	6.5	Dec 10, 2024	J-GAAP
YoY	+15.0%	-9.2%	-5.1%	-7.6%	-7.6%