COSEL, The Current Fiscal Year Ordinary Profit Revised Downward by 77%

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Fri Dec 20, 2024 11:30 am JST Earnings

6905 COSEL CO.,LTD. 【J-GAAP】

Earnings Report

COSEL CO.,LTD. <6905> [TSE Prime] announced its financial results at noon (11:30) on December 20th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) significantly dropped 87.9% from the same period last year to 594 million yen, fell short of the previous forecast of 2.17 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 76.5%, from the previous forecast of 5.44 billion yen to 1.27 billion yen (compared to 7.85 billion yen in the previous period), leading to an increase in the profit decline rate from 30.6% to 83.7%.

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 December to May period (second half) is expected to significant drop 76.8% from the same period last year to 684 million yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit significantly dropped to 130 million yen, a 95.1% decrease compared to the same period last year. The operating profit margin sharply declined from 19.2% in the same period last year to 0.9%.

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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
Jun - Nov, 2022	16,331	2,025	2,308	1,624	47.7	43.8	Dec 19, 2022	J-GAAP
Jun - Nov, 2023	21,602	4,218	4,898	3,539	106.8	62.4	Dec 20, 2023	J-GAAP
Jun - Nov, 2024	14,855	634	594	278	7.2	46.5	Dec 20, 2024	J-GAAP
YoY	-31.2%	-85.0%	-87.9%	-92.1%	-93.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	17,910	2,102	2,170	1,332	32.4	27	Jul 11, 2024	J-GAAP
Jun - Nov, 2024 Results	14,855	634	594	278	7.2	27	Dec 20, 2024	J-GAAP
Revision Rate	-17.1%	-69.8%	-72.6%	-79.1%	-77.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2025 Prev	38,000	5,319	5,444	3,692	89.8	55	Jul 11, 2024	J-GAAP
May, 2025 New	29,174	1,245	1,278	751	18.3	55	Dec 20, 2024	J-GAAP
Revision Rate	-23.2%	-76.6%	-76.5%	-79.7%	-79.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	19,835	2,694	2,952	1,630	49.2	27	Jun 19, 2024	J-GAAP
Dec - May, 2024 Guidance	14,319	611	684	473	11.5	28	Dec 20, 2024	J-GAAP
YoY	-27.8%	-77.3%	-76.8%	-71.0%	-76.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	35,266	4,926	5,273	3,162	93.6	32	Jun 19, 2023	J-GAAP
May, 2024	41,437	6,912	7,850	5,169	155.9	54	Jun 19, 2024	J-GAAP
May, 2025 Guidance	29,174	1,245	1,278	751	18.3	55	Dec 20, 2024	J-GAAP
YoY	-29.6%	-82.0%	-83.7%	-85.5%	-88.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	11,212	2,155	2,630	1,857	56.0	19.2	Dec 20, 2023	J-GAAP
Dec - Feb, 2023	9,919	1,772	1,825	1,118	33.7	17.9	Mar 22, 2024	J-GAAP
Mar - May, 2024	9,916	922	1,127	512	15.4	9.3	Jun 19, 2024	J-GAAP
Jun - Aug, 2024	8,409	578	464	293	8.0	6.9	Sep 17, 2024	J-GAAP
Sep - Nov, 2024	6,446	56	130	-15	-0.4	0.9	Dec 20, 2024	J-GAAP
YoY	-42.5%	-97.4%	-95.1%	－	－