PROTO, First Half Ordinary Profit Decreases by 17%, Jul-Sep Ordinary Profit Decreases by 21%

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Fri Dec 20, 2024 1:00 pm JST Earnings

4298 PROTO CORPORATION 【J-GAAP】

Earnings Report

PROTO CORPORATION <4298> [TSE Prime] announced its financial results in the afternoon session on December 20th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased 16.6% from the same period last year to 3.5 billion yen. The progress rate toward the full-year plan of 8.22 billion yen was 42.6%, also falling below the five-year average of 50.3%.

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 grow 11.8% from the same period last year, reaching 4.71 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.18 billion yen, a 21.4% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 5.5% in the same period last year to 5.6%.

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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	49,686	3,539	3,560	2,309	59.7	53.3	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	54,419	3,674	4,207	2,751	68.4	49.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	57,218	3,818	3,508	2,115	52.5	42.6	Dec 20, 2024	J-GAAP
YoY	+5.1%	+3.9%	-16.6%	-23.1%	-23.2%

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	55,546	3,393	3,377	2,295	56.9	25	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	57,218	3,818	3,508	2,115	52.5	25	Dec 20, 2024	J-GAAP
Revision Rate	+3.0%	+12.5%	+3.9%	-7.8%	-7.7%

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	61,212	4,220	4,220	2,801	69.6	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	59,960	4,420	4,719	3,456	85.7	25	Dec 20, 2024	J-GAAP
YoY	-2.0%	+4.7%	+11.8%	+23.4%	+23.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	105,317	7,114	6,683	4,189	104.2	35	May 12, 2023	J-GAAP
Mar, 2024	115,631	7,894	8,427	5,552	138.0	42.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	117,178	8,238	8,227	5,571	138.2	50	May 10, 2024	J-GAAP
YoY	+1.3%	+4.4%	-2.4%	+0.3%	+0.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,263	1,491	1,507	986	24.5	5.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	32,246	2,531	2,458	1,681	42.9	7.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	28,966	1,689	1,762	1,120	27.8	5.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	29,690	2,241	2,286	1,569	39.0	7.5	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	27,528	1,577	1,222	546	13.6	5.7	Dec 20, 2024	J-GAAP
YoY	+1.0%	+5.8%	-18.9%	-44.6%	-44.7%