SEIHYO, The Current Fiscal Year Ordinary Profit Revised Upward by 42%, Dividend Revised Upward by 1 yen

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Fri Jan 10, 2025 4:00 pm JST Earnings

2872 SEIHYO CO.,LTD. 【J-GAAP】

Earnings Report

SEIHYO CO.,LTD. <2872> [TSE Std] announced its financial results after the market closed on January 10th (16:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending February 2025 (March to November) surged 2.7 times that of the same period last year, reaching 219 million yen.

In addition, the full-year ordinary profit has been revised upward 42.0%, from the previous forecast of 81 million yen to 115 million yen (compared to 66 million yen in the previous period), increasing the growth rate from 22.7% to 74.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit/loss for the September to February period (2H) has been revised upward from an expected loss of 119 million yen to a loss of 85 million yen (compared to a loss of 68 million yen in the same period of the previous year), indicating a reduction in the loss margin.

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 17 yen to 18 yen (compared to 17 yen in the previous period).

In the most recent three-month period, from September to November (3Q), the ordinary profit/loss turned to a profit of 19 million yen (compared to a loss of 54 million yen in the same period last year). The operating profit/loss margin drastically improved from -8.3% in the same period last year to 1.7%.

Kabutan News

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	3,278	35	33	21	14.5	103.1	Jan 12, 2023	J-GAAP
Mar - Nov, 2023	3,491	73	80	61	39.8	121.2	Jan 11, 2024	J-GAAP
Mar - Nov, 2024	3,875	201	219	169	121.8	190.4	Jan 10, 2025	J-GAAP
YoY	+11.0%	+175.3%	+173.8%	+177.0%	+206.4%

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	1,480	-113	-119	-89	-63.8	17	Oct 10, 2024	J-GAAP
Sep - Feb, 2024 New	1,680	-83	-85	-66	-47.3	18	Jan 10, 2025	J-GAAP
Revision Rate	+13.5%	+26.5%	+28.6%	+25.8%	+25.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	4,300	70	81	68	48.7	17	Apr 12, 2024	J-GAAP
Feb, 2025 New	4,500	100	115	91	65.2	18	Jan 10, 2025	J-GAAP
Revision Rate	+4.7%	+42.9%	+42.0%	+33.8%	+33.8%

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	1,442	-75	-68	-47	-30.8	17	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	1,680	-83	-85	-66	-47.3	18	Jan 10, 2025	J-GAAP
YoY	+16.5%	-10.7%	-25.0%	-40.4%	-53.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	4,192	11	32	20	13.8	16.67	Apr 14, 2023	J-GAAP
Feb, 2024	4,256	54	66	61	40.0	17	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	4,500	100	115	91	65.2	18	Jan 10, 2025	J-GAAP
YoY	+5.7%	+85.2%	+74.2%	+49.2%	+63.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	677	-56	-54	-47	-30.6	-8.3	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	765	-19	-14	0	0.2	-2.5	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,120	34	37	31	22.4	3.0	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	1,700	149	163	126	90.5	8.8	Oct 10, 2024	J-GAAP
Sep - Nov, 2024	1,055	18	19	12	8.7	1.7	Jan 10, 2025	J-GAAP
YoY	+55.8%	－	－	－	－