JASON, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 29% Decrease

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Tue Jan 14, 2025 4:00 pm JST Earnings

3080 JASON CO.,LTD. 【J-GAAP】

Earnings Report

JASON CO.,LTD. <3080> [TSE Std] announced its financial results after the market closed on January 14th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) decreased 24.0% from the same period last year to 0.65 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 36.9%, from the previous forecast of 1.03 billion yen to 0.65 billion yen (compared to 0.91 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 28.6% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the September to February period (2H) has decreased 80.7%, from the previous forecast of 0.47 billion yen to 0.09 billion yen (compared to 0.22 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 58.6% decrease in profit.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit dropped to 0.09 billion yen, a 44.6% decrease compared to the same period last year. The operating profit margin worsened from 2.3% in the same period last year to 1.2%.

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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	20,764	754	783	471	36.8	93.3	Jan 12, 2023	J-GAAP
Mar - Nov, 2023	22,169	832	858	540	42.2	94.3	Jan 11, 2024	J-GAAP
Mar - Nov, 2024	21,811	626	652	394	30.8	100.3	Jan 14, 2025	J-GAAP
YoY	-1.6%	-24.8%	-24.0%	-27.0%	-27.1%

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	14,967	448	471	310	24.2	13	Oct 15, 2024	J-GAAP
Sep - Feb, 2024 New	13,267	78	91	50	3.9	13	Jan 14, 2025	J-GAAP
Revision Rate	-11.4%	-82.6%	-80.7%	-83.9%	-83.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	30,000	990	1,030	650	50.7	13	Apr 12, 2024	J-GAAP
Feb, 2025 New	28,300	620	650	390	30.4	13	Jan 14, 2025	J-GAAP
Revision Rate	-5.7%	-37.4%	-36.9%	-40.0%	-40.0%

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	13,528	203	220	170	13.3	13	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	13,267	78	91	50	3.9	13	Jan 14, 2025	J-GAAP
YoY	-1.9%	-61.6%	-58.6%	-70.6%	-70.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	27,226	801	839	599	46.8	13	Apr 13, 2023	J-GAAP
Feb, 2024	28,740	876	910	602	47.1	13	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	28,300	620	650	390	30.4	13	Jan 14, 2025	J-GAAP
YoY	-1.5%	-29.2%	-28.6%	-35.2%	-35.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	6,957	159	168	108	8.4	2.3	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	6,571	44	52	62	4.9	0.7	Apr 12, 2024	J-GAAP
Mar - May, 2024	7,213	313	323	198	15.5	4.3	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	7,820	229	236	142	11.1	2.9	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	6,778	84	93	54	4.2	1.2	Jan 14, 2025	J-GAAP
YoY	-2.6%	-47.2%	-44.6%	-50.0%	-49.9%