ONWARD HOLDINGS, The Current Fiscal Year Net Income Revised Upward by 3%, Dividend Revised Upward by 2 yen

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Thu Jan 9, 2025 3:30 pm JST Earnings

8016 ONWARD HOLDINGS Co., Ltd. 【J-GAAP】

Earnings Report

ONWARD HOLDINGS Co., Ltd. <8016> [TSE Prime] announced its financial results after the market closed on January 9th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending February 2025 (March to November) was 5.78 billion yen, a 0.6% increase compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward 3.0%, from the previous forecast of 8.25 billion yen to 8.5 billion yen (compared to 6.61 billion yen in the previous period), increasing the growth rate from 24.8% to 28.6%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the September to February period (2H) is expected to increase 6.0%, from the previous forecast of 4.14 billion yen to 4.39 billion yen (compared to 3.74 billion yen in the same period of the previous year), increasing the growth rate from 10.5% to 17.2%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 24 yen to 26 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from September to November (3Q), the consolidated net income dropped to 1.67 billion yen, a 42.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.2% in the same period last year to 6.0%.

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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	130,397	4,315	4,698	2,723	20.1	88.3	Jan 12, 2023	J-GAAP
Mar - Nov, 2023	141,383	9,700	9,055	5,746	42.4	89.4	Jan 11, 2024	J-GAAP
Mar - Nov, 2024	149,940	8,560	8,456	5,780	42.6	69.3	Jan 9, 2025	J-GAAP
YoY	+6.1%	-11.8%	-6.6%	+0.6%	+0.6%

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	114,898	7,245	6,987	4,142	30.5	24	Oct 3, 2024	J-GAAP
Sep - Feb, 2024 New	114,898	7,245	6,987	4,392	32.4	26	Jan 9, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+6.0%	+6.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	210,000	12,500	12,200	8,250	60.8	24	Oct 3, 2024	J-GAAP
Feb, 2025 New	210,000	12,500	12,200	8,500	62.6	26	Jan 9, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+3.0%	+3.0%

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	99,218	6,238	5,714	3,749	27.6	20	Apr 4, 2024	J-GAAP
Sep - Feb, 2024 Guidance	114,898	7,245	6,987	4,392	32.4	26	Jan 9, 2025	J-GAAP
YoY	+15.8%	+16.1%	+22.3%	+17.2%	+17.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	176,072	5,214	5,319	3,061	22.6	12	Apr 6, 2023	J-GAAP
Feb, 2024	189,629	11,260	10,126	6,611	48.7	20	Apr 4, 2024	J-GAAP
Feb, 2025 Guidance	210,000	12,500	12,200	8,500	62.6	26	Jan 9, 2025	J-GAAP
YoY	+10.7%	+11.0%	+20.5%	+28.6%	+28.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	50,972	4,678	4,643	2,884	21.3	9.2	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	48,246	1,560	1,071	865	6.4	3.2	Apr 4, 2024	J-GAAP
Mar - May, 2024	51,376	5,074	5,195	4,019	29.6	9.9	Jul 4, 2024	J-GAAP
Jun - Aug, 2024	43,726	181	18	89	0.7	0.4	Oct 3, 2024	J-GAAP
Sep - Nov, 2024	54,838	3,305	3,243	1,672	12.3	6.0	Jan 9, 2025	J-GAAP
YoY	+7.6%	-29.4%	-30.2%	-42.0%	-42.1%