CB GROUP, The Current Fiscal Year Ordinary Profit Revised Upward by 24%, Raises Record High Profit Forecast, Postponed Dividend for This Fiscal Year

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Wed Feb 5, 2025 3:45 pm JST Earnings

9852 CB GROUP MANAGEMENT Co., Ltd 【J-GAAP】

Earnings Report

CB GROUP MANAGEMENT Co., Ltd <9852> [TSE Std] announced its financial results after the market closed on February 5th (15:45). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 2.96 billion yen, an increase 58.9% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 24.5%, from the previous forecast of 2.9 billion yen to 3.61 billion yen (compared to 2.88 billion yen in the previous period), increasing the growth rate from 0.4% to 25.0%, further surpassing the previous forecast of record-high profits for three consecutive terms.

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) has been revised upward 67.7%, from the previous forecast of 1.04 billion yen to 1.75 billion yen (compared to 1.98 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 47.3% to 11.5%.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the year-end lump-sum dividend of 100 yen for the current fiscal year.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 15.4% from the same period last year, reaching 1.11 billion yen. The operating profit margin remained almost flat, changing from 2.2% in the same period last year to 2.3%.

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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	106,437	1,287	1,348	885	421.5	57.2	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	113,062	1,805	1,867	1,253	581.6	64.6	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	131,686	2,890	2,966	2,056	953.3	82.2	Feb 5, 2025	J-GAAP
YoY	+16.5%	+60.1%	+58.9%	+64.1%	+63.9%

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	68,429	1,043	1,048	572	265.2	100	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	84,068	1,753	1,758	1,018	471.9	0	Feb 5, 2025	J-GAAP
Revision Rate	+22.9%	+68.1%	+67.7%	+78.0%	+78.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	152,000	2,850	2,900	1,900	880.8	100	May 10, 2024	J-GAAP
Mar, 2025 New	167,639	3,560	3,610	2,346	1,087.5	0	Feb 5, 2025	J-GAAP
Revision Rate	+10.3%	+24.9%	+24.5%	+23.5%	+23.5%

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	76,243	1,899	1,987	1,456	675.5	100	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	84,068	1,753	1,758	1,018	471.9	0	Feb 5, 2025	J-GAAP
YoY	+10.3%	-7.7%	-11.5%	-30.1%	-30.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	138,752	2,295	2,357	1,647	779.1	100	May 12, 2023	J-GAAP
Mar, 2024	147,284	2,762	2,889	2,057	954.3	100	May 10, 2024	J-GAAP
Mar, 2025 Guidance	167,639	3,560	3,610	2,346	1,087.5	0	Feb 5, 2025	J-GAAP
YoY	+13.8%	+28.9%	+25.0%	+14.0%	+14.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	42,021	942	965	652	302.6	2.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	34,222	957	1,022	804	373.0	2.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	42,206	962	995	658	305.2	2.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	41,365	845	857	670	310.8	2.0	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	48,115	1,083	1,114	728	337.5	2.3	Feb 5, 2025	J-GAAP
YoY	+14.5%	+15.0%	+15.4%	+11.7%	+11.5%