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JOYFUL HONDA, First Half Ordinary Profit Unexpectedly Revised Upward by 6%

Fri Jan 31, 2025 3:30 pm JST Earnings

3191 JOYFUL HONDA CO.,LTD. 【J-GAAP】

Earnings Report

JOYFUL HONDA CO.,LTD. <3191> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending June 2025 (July to December) increased 5.9% from the same period last year, reaching 6.44 billion yen, resulting in an increase in profits compared to the previous forecast of a 2.1% decrease.

The progress rate toward the full-year plan of 11.7 billion yen was 55.1%, almost the same as the five-year average of 52.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the January to June period (2H) is expected to decrease 5.4% from the same period last year to 5.25 billion yen.

In the most recent three-month period, from October to December (2Q), the ordinary profit grew 4.6% from the same period last year, reaching 3.13 billion yen. The operating profit margin remained almost flat, changing from 8.6% in the same period last year to 8.8%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jul - Dec, 2022 62,236 6,192 6,692 4,589 70.7 54.7 Feb 1, 2023 J-GAAP
Jul - Dec, 2023 63,332 5,527 6,089 4,180 66.6 52.3 Feb 2, 2024 J-GAAP
Jul - Dec, 2024 65,064 5,889 6,446 4,393 70.7 55.1 Jan 31, 2025 J-GAAP
YoY +2.7% +6.5% +5.9% +5.1% +6.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Guidance 63,870 5,410 5,960 4,130 66.3 32 Aug 2, 2024 J-GAAP
Jul - Dec, 2024 Results 65,064 5,889 6,446 4,393 70.7 32 Jan 31, 2025 J-GAAP
Revision Rate +1.9% +8.9% +8.2% +6.4% +6.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2024 63,562 5,041 5,556 4,911 78.8 25 Aug 2, 2024 J-GAAP
Jan - Jun, 2025 Guidance 62,936 4,711 5,254 3,607 59.7 32 Jan 31, 2025 J-GAAP
YoY -1.0% -6.5% -5.4% -26.6% -24.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun, 2023 123,362 11,095 12,240 8,528 131.6 46 Aug 2, 2023 J-GAAP
Jun, 2024 126,894 10,568 11,645 9,091 145.9 50 Aug 2, 2024 J-GAAP
Jun, 2025 Guidance 128,000 10,600 11,700 8,000 132.5 64 Aug 2, 2024 J-GAAP
YoY +0.9% +0.3% +0.5% -12.0% -9.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 31,698 2,724 2,996 2,044 32.6 8.6 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 30,014 2,425 2,688 1,897 30.4 8.1 May 2, 2024 J-GAAP
Apr - Jun, 2024 33,548 2,616 2,868 3,014 48.4 7.8 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 32,583 3,034 3,311 2,226 35.9 9.3 Nov 1, 2024 J-GAAP
Oct - Dec, 2024 32,481 2,855 3,135 2,167 34.9 8.8 Jan 31, 2025 J-GAAP
YoY +2.5% +4.8% +4.6% +6.0% +7.1%

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