Watahan &, Oct-Dec (3Q) Ordinary Profit Increases by 17%, Current Fiscal Year Dividend Revised Upward by 5 yen

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Thu Jan 30, 2025 5:00 pm JST Earnings

3199 Watahan & Co.,Ltd. 【J-GAAP】

Earnings Report

Watahan & Co.,Ltd. <3199> [TSE Prime] announced its financial results after the market closed on January 30th (17:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 29.5% from the same period last year, reaching 3.21 billion yen. The progress rate toward the full-year plan of 3.7 billion yen was 86.9%, also surpassing the five-year average of 82.0%.

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 January to March period (4Q) is expected to drop 35.8% from the same period last year to 0.48 billion yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 24 yen to 29 yen (compared to 23 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 17.2% from the same period last year, reaching 1.43 billion yen. The operating profit margin remained almost flat, changing from 3.4% in the same period last year to 3.5%.

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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	100,593	2,108	2,572	1,390	70.0	84.1	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	96,144	2,180	2,485	1,522	76.5	76.8	Jan 30, 2024	J-GAAP
Apr - Dec, 2024	100,967	2,995	3,217	2,146	107.6	86.9	Jan 30, 2025	J-GAAP
YoY	+5.0%	+37.4%	+29.5%	+41.0%	+40.8%

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	69,730	1,745	1,917	810	41.8	24	Oct 25, 2024	J-GAAP
Oct - Mar, 2024 New	69,730	1,745	1,917	810	41.8	29	Jan 30, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	135,000	3,500	3,700	2,050	105.9	24	Oct 25, 2024	J-GAAP
Mar, 2025 New	135,000	3,500	3,700	2,050	105.9	29	Jan 30, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	66,094	1,790	1,976	1,088	54.6	23	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	69,730	1,745	1,917	810	41.8	29	Jan 30, 2025	J-GAAP
YoY	+5.5%	-2.5%	-3.0%	-25.6%	-23.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	134,299	2,402	3,057	1,653	83.2	22	May 12, 2023	J-GAAP
Mar, 2024	128,072	2,822	3,237	1,854	93.1	23	May 10, 2024	J-GAAP
Mar, 2025 Guidance	135,000	3,500	3,700	2,050	105.9	29	Jan 30, 2025	J-GAAP
YoY	+5.4%	+24.0%	+14.3%	+10.6%	+13.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	34,166	1,148	1,224	756	38.0	3.4	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	31,928	642	752	332	16.7	2.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	31,826	826	860	616	30.9	2.6	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	33,444	929	923	624	31.3	2.8	Oct 28, 2024	J-GAAP
Oct - Dec, 2024	35,697	1,240	1,434	906	45.4	3.5	Jan 30, 2025	J-GAAP
YoY	+4.5%	+8.0%	+17.2%	+19.8%	+19.7%