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

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%

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