SUGI HOLDINGS, The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Raises Record High Profit Forecast

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Thu Jan 9, 2025 3:30 pm JST Earnings

7649 SUGI HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

SUGI HOLDINGS CO.,LTD. <7649> [TSE Prime] announced its financial results after the market closed on January 9th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) increased 12.2% from the same period last year, reaching 30.3 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 3.6%, from the previous forecast of 41.5 billion yen to 43 billion yen (compared to 38 billion yen in the previous period), increasing the growth rate from 9.1% to 13.0%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the September to February period (2H) is expected to increase 7.5%, from the previous forecast of 20 billion yen to 21.5 billion yen (compared to 19.9 billion yen in the same period of the previous year), increasing the growth rate from 0.6% to 8.1%.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit amounted to 8.88 billion yen, a 0.4% decrease compared to the same period last year. The operating profit margin worsened from 4.7% in the same period last year to 3.8%.

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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	495,991	21,900	22,393	14,166	77.1	69.1	Dec 27, 2022	J-GAAP
Mar - Nov, 2023	551,132	25,894	27,046	16,245	89.8	71.1	Dec 26, 2023	J-GAAP
Mar - Nov, 2024	634,619	28,749	30,350	19,057	105.3	70.6	Jan 9, 2025	J-GAAP
YoY	+15.1%	+11.0%	+12.2%	+17.3%	+17.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2024 Prev	396,191	19,714	20,032	11,941	66.0	20	Sep 24, 2024	J-GAAP
Sep - Feb, 2024 New	461,191	20,714	21,532	12,441	68.8	20	Jan 9, 2025	J-GAAP
Revision Rate	+16.4%	+5.1%	+7.5%	+4.2%	+4.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	810,000	40,000	41,500	25,000	138.2	35	Apr 2, 2024	J-GAAP
Feb, 2025 New	875,000	41,000	43,000	25,500	140.9	35	Jan 9, 2025	J-GAAP
Revision Rate	+8.0%	+2.5%	+3.6%	+2.0%	+2.0%

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	377,913	19,335	19,915	11,714	64.7	13.34	Apr 2, 2024	J-GAAP
Sep - Feb, 2024 Guidance	461,191	20,714	21,532	12,441	68.8	20	Jan 9, 2025	J-GAAP
YoY	+22.0%	+7.1%	+8.1%	+6.2%	+6.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	667,647	31,658	32,391	19,007	103.8	26.67	Apr 4, 2023	J-GAAP
Feb, 2024	744,477	36,622	38,039	21,979	121.5	26.67	Apr 2, 2024	J-GAAP
Feb, 2025 Guidance	875,000	41,000	43,000	25,500	140.9	35	Jan 9, 2025	J-GAAP
YoY	+17.5%	+12.0%	+13.0%	+16.0%	+16.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	184,568	8,607	8,922	5,980	33.1	4.7	Dec 26, 2023	J-GAAP
Dec - Feb, 2023	193,345	10,728	10,993	5,734	31.7	5.5	Apr 2, 2024	J-GAAP
Mar - May, 2024	200,959	8,606	9,165	6,123	33.8	4.3	Jun 25, 2024	J-GAAP
Jun - Aug, 2024	212,850	11,680	12,303	6,936	38.3	5.5	Sep 24, 2024	J-GAAP
Sep - Nov, 2024	220,810	8,463	8,882	5,998	33.2	3.8	Jan 9, 2025	J-GAAP
YoY	+19.6%	-1.7%	-0.4%	+0.3%	+0.3%