First-corp, First Half Ordinary Profit Increases by 2.3 times, Sep-Nov Ordinary Profit Increases by 2.1 times

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Tue Jan 14, 2025 1:00 pm JST Earnings

1430 First-corporation Inc. 【J-GAAP】

Earnings Report

First-corporation Inc. <1430> [TSE Std] announced its financial results in the afternoon session on January 14th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) surged 2.3 times that of the same period last year, reaching 1.51 billion yen. The progress rate toward the full-year plan of 2.4 billion yen was 63.2%, also surpassing the five-year average of 30.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to May period (2H) is expected to grow 15.1% from the same period last year, reaching 0.88 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit surged 2.1 times that of the same period last year, reaching 0.96 billion yen. However, the operating profit margin worsened from 6.0% in the same period last year to 5.1%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jun - Nov, 2022	10,177	652	641	445	37.6	32.4	Jan 6, 2023	J-GAAP
Jun - Nov, 2023	13,591	670	654	447	37.5	46.0	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	27,228	1,564	1,516	1,024	85.7	63.2	Jan 14, 2025	J-GAAP
YoY	+100.3%	+133.4%	+131.8%	+129.1%	+128.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	ー	ー	ー	ー	－	0	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	27,228	1,564	1,516	1,024	85.7	0	Jan 14, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	14,894	783	768	497	41.7	31	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	14,272	936	884	616	51.6	42	Jan 14, 2025	J-GAAP
YoY	-4.2%	+19.5%	+15.1%	+23.9%	+23.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	25,543	1,983	1,979	1,364	114.8	35	Jul 14, 2023	J-GAAP
May, 2024	28,485	1,453	1,422	944	79.2	31	Jul 12, 2024	J-GAAP
May, 2025 Guidance	41,500	2,500	2,400	1,640	137.3	42	Dec 13, 2024	J-GAAP
YoY	+45.7%	+72.1%	+68.8%	+73.7%	+73.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	7,651	459	451	310	26.0	6.0	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	7,311	582	578	417	35.0	8.0	Apr 12, 2024	J-GAAP
Mar - May, 2024	7,583	201	190	80	6.7	2.7	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	7,692	564	554	365	30.6	7.3	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	19,536	1,000	962	659	55.2	5.1	Jan 14, 2025	J-GAAP
YoY	+155.3%	+117.9%	+113.3%	+112.6%	+112.2%