CHUO SPRING, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 39% Increase, Highest in Three Terms, Dividend Revised Upward by 12 yen

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Thu Jan 30, 2025 2:20 pm JST Earnings

5992 CHUO SPRING CO.,LTD. 【J-GAAP】

Earnings Report

CHUO SPRING CO.,LTD. <5992> [TSE Std] announced its financial results in the afternoon session on January 30th (14:20). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 4.5 billion yen, an increase 86.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 43.3%, from the previous forecast of 3 billion yen to 4.3 billion yen (compared to 3.09 billion yen in the previous period), reaches new record high for the first time in three terms, turning to a 39.0% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 2.1 times, from the previous forecast of 1.21 billion yen to 2.51 billion yen (compared to 0.83 billion yen in the same period of the previous year), increasing the growth rate from 44.9% to 3.0 times.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 28 yen to 40 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 16 times that of the same period last year, reaching 2.72 billion yen. The operating profit margin significantly improved from 1.1% in the same period last year to 4.3%.

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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
Apr - Dec, 2022	68,492	485	1,544	473	19.0	98.2	Feb 2, 2023	J-GAAP
Apr - Dec, 2023	77,603	992	2,422	1,464	58.0	78.3	Feb 1, 2024	J-GAAP
Apr - Dec, 2024	82,250	2,996	4,509	2,816	111.6	104.9	Jan 30, 2025	J-GAAP
YoY	+6.0%	+202.0%	+86.2%	+92.3%	+92.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	52,744	940	1,213	452	17.9	14	Oct 30, 2024	J-GAAP
Oct - Mar, 2024 New	55,744	1,540	2,513	1,352	53.6	26	Jan 30, 2025	J-GAAP
Revision Rate	+5.7%	+63.8%	+107.2%	+199.1%	+199.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	106,000	2,700	3,000	1,700	67.4	28	Oct 30, 2024	J-GAAP
Mar, 2025 New	109,000	3,300	4,300	2,600	103.0	40	Jan 30, 2025	J-GAAP
Revision Rate	+2.8%	+22.2%	+43.3%	+52.9%	+53.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	50,631	392	837	576	22.8	12	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	55,744	1,540	2,513	1,352	53.6	26	Jan 30, 2025	J-GAAP
YoY	+10.1%	+292.9%	+200.2%	+134.7%	+134.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	92,766	354	1,572	481	19.3	18	Apr 26, 2023	J-GAAP
Mar, 2024	100,975	1,073	3,093	1,990	78.8	20	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	109,000	3,300	4,300	2,600	103.0	40	Jan 30, 2025	J-GAAP
YoY	+7.9%	+207.5%	+39.0%	+30.7%	+30.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	27,259	311	166	50	2.0	1.1	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	23,372	81	671	526	20.8	0.3	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	25,520	136	1,394	977	38.7	0.5	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	27,736	1,624	393	271	10.7	5.9	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	28,994	1,236	2,722	1,568	62.1	4.3	Jan 30, 2025	J-GAAP
YoY	+6.4%	+297.4%	+1,539.8%	+3,036.0%	+3,038.4%