J.FRONT RETAILING, Mar-Nov (Cumulative 3Q) Net Income Increases by 71%, Exceeds Full-Year Plan

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Wed Dec 25, 2024 3:30 pm JST Earnings

3086 J.FRONT RETAILING Co.,Ltd. 【IFRS】

Earnings Report

J.FRONT RETAILING Co.,Ltd. <3086> [TSE Prime] announced its financial results (based on IFRS) after the market closed on December 25th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending February 2025 (March to November) expanded 37 billion yen, an increase 71.5% compared to the same period last year. The progress rate toward the full-year plan of 36.5 billion yen is 101.5%, already exceeding the target and also exceeding the five-year average of 89.9%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the December to February period (4Q) is expected to turn into a loss of 541 million yen (compared to a profit of 8.3 billion yen in the same period last year).

In the most recent three-month period, from September to November (3Q), the consolidated net income decreased to 7.94 billion yen, a 8.7% decrease compared to the same period last year. The operating profit margin decreased from 11.6% in the same period last year to 11.0%.

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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
Mar - Nov, 2022	256,941	20,100	18,426	14,762	56.3	109.2	Dec 27, 2022	IFRS
Mar - Nov, 2023	286,562	30,677	29,848	21,604	82.4	72.2	Dec 26, 2023	IFRS
Mar - Nov, 2024	315,982	51,142	49,377	37,041	143.0	98.8	Dec 25, 2024	IFRS
YoY	+10.3%	+66.7%	+65.4%	+71.5%	+73.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	215,372	23,364	22,539	17,013	64.9	20	Apr 15, 2024	IFRS
Sep - Feb, 2024 Guidance	227,632	12,636	11,737	7,406	28.9	22	Oct 8, 2024	IFRS
YoY	+5.7%	-45.9%	-47.9%	-56.5%	-55.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	359,679	19,059	16,873	14,237	54.3	31	Apr 11, 2023	IFRS
Feb, 2024	407,006	43,048	41,343	29,913	114.1	36	Apr 15, 2024	IFRS
Feb, 2025 Guidance	437,000	52,000	50,000	36,500	142.4	44	Sep 24, 2024	IFRS
YoY	+7.4%	+20.8%	+20.9%	+22.0%	+24.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	94,928	10,993	11,044	8,704	33.2	11.6	Dec 26, 2023	IFRS
Dec - Feb, 2023	120,444	12,371	11,495	8,309	31.7	10.3	Apr 15, 2024	IFRS
Mar - May, 2024	101,469	16,136	15,631	11,316	43.1	15.9	Jun 28, 2024	IFRS
Jun - Aug, 2024	107,899	23,228	22,632	17,778	68.4	21.5	Oct 8, 2024	IFRS
Sep - Nov, 2024	106,614	11,778	11,114	7,947	30.7	11.0	Dec 25, 2024	IFRS
YoY	+12.3%	+7.1%	+0.6%	-8.7%	-7.5%