Ray, Mar-Nov (Cumulative 3Q) Ordinary Profit Decreases by 41%, Sep-Nov Ordinary Profit Decreases by 54%

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Tue Jan 14, 2025 3:30 pm JST Earnings

4317 Ray Corporation 【J-GAAP】

Earnings Report

Ray Corporation <4317> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) dropped 41.4% from the same period last year to 591 million yen. The progress rate toward the full-year plan of 785 million yen was 75.3%, also surpassing the five-year average of 64.1%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to February period (4Q) is expected to drop 36.0% from the same period last year to 194 million yen.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit significantly dropped to 355 million yen, a 53.8% decrease compared to the same period last year. The operating profit margin significantly dropped from 19.7% in the same period last year to 10.8%.

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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	8,718	988	990	382	26.7	70.7	Jan 12, 2023	J-GAAP
Mar - Nov, 2023	8,140	903	1,008	608	42.5	76.9	Jan 12, 2024	J-GAAP
Mar - Nov, 2024	7,372	482	591	422	30.5	75.3	Jan 14, 2025	J-GAAP
YoY	-9.4%	-46.6%	-41.4%	-30.6%	-28.3%

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	6,774	978	1,071	750	52.5	15	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	7,187	528	549	351	26.0	10	Oct 11, 2024	J-GAAP
YoY	+6.1%	-46.0%	-48.7%	-53.2%	-50.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	12,450	1,398	1,401	715	49.9	15	Jun 30, 2023	J-GAAP
Feb, 2024	11,222	1,152	1,311	818	57.3	15	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	11,700	700	785	520	38.5	10	Apr 12, 2024	J-GAAP
YoY	+4.3%	-39.2%	-40.1%	-36.4%	-32.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	3,692	729	768	540	37.8	19.7	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	3,082	249	303	210	14.7	8.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	2,322	121	162	113	8.1	5.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	2,191	51	74	56	4.0	2.3	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	2,859	310	355	253	18.3	10.8	Jan 14, 2025	J-GAAP
YoY	-22.6%	-57.5%	-53.8%	-53.1%	-51.6%