EPCO, Last Fiscal Year Ordinary Profit Revised Upward to an Unexpected 3% Increase

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Mon Jan 27, 2025 3:30 pm JST Revision

2311 EPCO Co.,Ltd. 【J-GAAP】

Guidance Update Report

EPCO Co.,Ltd. <2311> [TSE Std] announced a performance revision after the market closed on January 27th (15:30). The consolidated ordinary profit for the fiscal year ending December 2024 has been revised upward 6.6%, from the previous forecast of 411 million yen to 438 million yen (compared to 425 million yen in the previous period), turning to a 3.1% increase in the consolidated ordinary profit outlook. However, the full-year consolidated net income has decreased 33.6%, from the previous forecast of 485 million yen to 322 million yen (compared to 626 million yen in the previous period), leading to an increase in the profit decline rate from 22.5% to 48.6%.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (2H) consolidated ordinary profit has been revised upward 9.4%, from the previous forecast of 288 million yen to 315 million yen (compared to 347 million yen in the same period of the previous year), and the declining rate is expected to decrease from 17.0% to 9.2%.

Kabutan News

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	2,866	101	288	425	47.5	18	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 New	2,815	166	315	262	29.3	18	Jan 27, 2025	J-GAAP
Revision Rate	-1.8%	+64.4%	+9.4%	-38.4%	-38.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	5,660	273	411	485	54.2	32	Feb 13, 2024	J-GAAP
Dec, 2024 New	5,609	338	438	322	36.1	32	Jan 27, 2025	J-GAAP
Revision Rate	-0.9%	+23.8%	+6.6%	-33.6%	-33.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	2,655	107	347	449	50.3	18	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,815	166	315	262	29.3	18	Jan 27, 2025	J-GAAP
YoY	+6.0%	+55.1%	-9.2%	-41.6%	-41.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	4,818	65	216	359	40.3	32	Feb 13, 2023	J-GAAP
Dec, 2023	5,059	161	425	626	70.1	32	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	5,609	338	438	322	36.1	32	Jan 27, 2025	J-GAAP
YoY	+10.9%	+109.9%	+3.1%	-48.6%	-48.6%