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Japan Eyewear, The Current Fiscal Year Net Income Revised Upward by 15%, Adds to Record High Profit Forecast, Dividend Revised Upward by 7 yen

Thu Dec 12, 2024 2:00 pm JST Earnings

5889 Japan Eyewear Holdings Co., Ltd. 【IFRS】

Earnings Report

Japan Eyewear Holdings Co., Ltd. <5889> [TSE Std] announced its financial results (based on IFRS) in the afternoon session on December 12th (14:00). The consolidated net income for the cumulative third quarter of the fiscal year ending January 2025 (February to October) expanded 2.42 billion yen, an increase 73.1% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward 15.3%, from the previous forecast of 2.68 billion yen to 3.09 billion yen (compared to 2.21 billion yen in the previous period), increasing the growth rate from 20.9% to 39.4%, further surpassing the previous forecast of record-high profits for four consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the August to January period (second half) is expected to increase 40.9%, from the previous forecast of 1 billion yen to 1.41 billion yen (compared to 1.33 billion yen in the same period of the previous year), turning to a 6.2% increase in the consolidated net income outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 44 yen to 51 yen (compared to 19 yen in the previous period).

In the most recent three-month period, from August to October (3Q), the consolidated net income increased 45.1% from the same period last year, reaching 746 million yen. The operating profit margin rose from 27.0% in the same period last year to 30.8%.

Kabutan News

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
Feb - Oct, 2023 9,689 2,680 2,365 1,400 74.0 71.8 Dec 14, 2023 IFRS
Feb - Oct, 2024 12,095 3,923 3,579 2,423 101.1 78.3 Dec 12, 2024 IFRS
YoY +24.8% +46.4% +51.3% +73.1% +36.7%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2024 Prev 6,660 1,546 1,418 1,003 41.6 22 Sep 12, 2024 IFRS
Aug - Jan, 2024 New 7,790 2,246 2,088 1,413 58.6 29 Dec 12, 2024 IFRS
Revision Rate +17.0% +45.3% +47.2% +40.9% +40.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2025 Prev 14,960 4,300 3,900 2,680 111.2 44 Mar 13, 2024 IFRS
Jan, 2025 New 16,090 5,000 4,570 3,090 128.2 51 Dec 12, 2024 IFRS
Revision Rate +7.6% +16.3% +17.2% +15.3% +15.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 7,125 1,906 1,713 1,331 66.1 19 Mar 13, 2024 IFRS
Aug - Jan, 2024 Guidance 7,790 2,246 2,088 1,413 58.6 29 Dec 12, 2024 IFRS
YoY +9.3% +17.8% +21.9% +6.2% -11.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2024 13,528 3,700 3,295 2,217 110.1 19 Mar 13, 2024 IFRS
Jan, 2025 Guidance 16,090 5,000 4,570 3,090 128.2 51 Dec 12, 2024 IFRS
YoY +18.9% +35.1% +38.7% +39.4% +16.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 3,286 886 783 514 27.2 27.0 Dec 14, 2023 IFRS
Nov - Jan, 2023 3,839 1,020 930 817 40.6 26.6 Mar 13, 2024 IFRS
Feb - Apr, 2024 3,861 1,195 1,102 736 30.8 31.0 Jun 13, 2024 IFRS
May - Jul, 2024 4,439 1,559 1,380 941 39.3 35.1 Sep 12, 2024 IFRS
Aug - Oct, 2024 3,795 1,169 1,097 746 31.1 30.8 Dec 12, 2024 IFRS
YoY +15.5% +31.9% +40.1% +45.1% +14.7%

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