SHINYEI KAISHA, The Current Fiscal Year Ordinary Profit Revised Downward by 15%

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Fri Jan 31, 2025 12:00 pm JST Earnings

3004 SHINYEI KAISHA 【J-GAAP】

Earnings Report

SHINYEI KAISHA <3004> [TSE Std] announced its financial results at noon (12:00) on January 31st. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 24.9% from the same period last year to 1.19 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 15.2%, from the previous forecast of 1.65 billion yen to 1.4 billion yen (compared to 1.9 billion yen in the previous period), leading to an increase in the profit decline rate from 13.6% to 26.7%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 23.3%, from the previous forecast of 1.07 billion yen to 0.82 billion yen (compared to 0.86 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 4.7% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 12.9% from the same period last year, reaching 0.62 billion yen. However, the operating profit margin worsened from 5.0% in the same period last year to 4.6%.

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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	30,311	910	949	597	147.0	70.8	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	31,071	1,488	1,593	1,280	313.6	83.4	Feb 2, 2024	J-GAAP
Apr - Dec, 2024	30,144	1,085	1,196	1,005	245.5	85.4	Jan 31, 2025	J-GAAP
YoY	-3.0%	-27.1%	-24.9%	-21.5%	-21.7%

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	21,298	1,150	1,075	849	217.3	90	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	20,498	750	825	799	204.5	90	Jan 31, 2025	J-GAAP
Revision Rate	-3.8%	-34.8%	-23.3%	-5.9%	-5.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	41,000	1,750	1,650	1,350	345.5	90	May 10, 2024	J-GAAP
Mar, 2025 New	40,200	1,350	1,400	1,300	332.7	90	Jan 31, 2025	J-GAAP
Revision Rate	-2.0%	-22.9%	-15.2%	-3.7%	-3.7%

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	19,848	836	866	845	206.9	80	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,498	750	825	799	204.5	90	Jan 31, 2025	J-GAAP
YoY	+3.3%	-10.3%	-4.7%	-5.4%	-1.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,892	1,375	1,340	949	233.5	40	May 12, 2023	J-GAAP
Mar, 2024	40,204	1,793	1,909	1,655	405.3	80	May 10, 2024	J-GAAP
Mar, 2025 Guidance	40,200	1,350	1,400	1,300	332.7	90	Jan 31, 2025	J-GAAP
YoY	0.0%	-24.7%	-26.7%	-21.5%	-17.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	10,715	531	550	470	115.2	5.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	9,133	305	316	375	91.8	3.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,879	284	384	302	74.0	2.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	9,823	316	191	199	48.6	3.2	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	10,442	485	621	504	123.1	4.6	Jan 31, 2025	J-GAAP
YoY	-2.5%	-8.7%	+12.9%	+7.2%	+6.9%