ITOHAM YONEKYU, The Current Fiscal Year Ordinary Profit Revised Downward by 13%

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Thu Feb 6, 2025 12:00 pm JST Earnings

2296 ITOHAM YONEKYU HOLDINGS INC. 【J-GAAP】

Earnings Report

ITOHAM YONEKYU HOLDINGS INC. <2296> [TSE Prime] announced its financial results at noon (12:00) on February 6th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 23.1% from the same period last year to 17.9 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 12.5%, from the previous forecast of 24 billion yen to 21 billion yen (compared to 26 billion yen in the previous period), leading to an increase in the profit decline rate from 7.8% to 19.3%.

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 20.0%, from the previous forecast of 14.9 billion yen to 11.9 billion yen (compared to 13.7 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 12.9% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 8.95 billion yen, a 19.3% decrease compared to the same period last year. The operating profit margin worsened from 3.9% in the same period last year to 3.1%.

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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	701,596	23,917	26,011	17,754	306.5	99.9	Feb 3, 2023	J-GAAP
Apr - Dec, 2023	728,220	20,727	23,401	15,366	269.8	89.9	Feb 6, 2024	J-GAAP
Apr - Dec, 2024	758,482	17,173	17,992	12,264	216.2	85.7	Feb 6, 2025	J-GAAP
YoY	+4.2%	-17.1%	-23.1%	-20.2%	-19.9%

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	494,086	13,694	14,963	8,736	154.0	75	Nov 1, 2024	J-GAAP
Oct - Mar, 2024 New	494,086	10,694	11,963	6,736	118.7	75	Feb 6, 2025	J-GAAP
Revision Rate	0.0%	-21.9%	-20.0%	-22.9%	-22.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	985,000	22,500	24,000	15,000	264.4	145	Oct 25, 2024	J-GAAP
Mar, 2025 New	985,000	19,500	21,000	13,000	229.1	145	Feb 6, 2025	J-GAAP
Revision Rate	0.0%	-13.3%	-12.5%	-13.3%	-13.3%

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	485,439	11,756	13,738	7,964	139.9	125	May 2, 2024	J-GAAP
Oct - Mar, 2024 Guidance	494,086	10,694	11,963	6,736	118.7	75	Feb 6, 2025	J-GAAP
YoY	+1.8%	-9.0%	-12.9%	-15.4%	-15.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	922,682	22,994	26,044	16,975	294.1	120	May 9, 2023	J-GAAP
Mar, 2024	955,580	22,336	26,036	15,553	273.2	125	May 2, 2024	J-GAAP
Mar, 2025 Guidance	985,000	19,500	21,000	13,000	229.1	145	Feb 6, 2025	J-GAAP
YoY	+3.1%	-12.7%	-19.3%	-16.4%	-16.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	258,079	10,147	11,103	7,777	136.6	3.9	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	227,360	1,609	2,635	187	3.3	0.7	May 2, 2024	J-GAAP
Apr - Jun, 2024	235,771	3,929	4,369	2,956	52.1	1.7	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	255,143	4,877	4,668	3,308	58.3	1.9	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	267,568	8,367	8,955	6,000	105.8	3.1	Feb 6, 2025	J-GAAP
YoY	+3.7%	-17.5%	-19.3%	-22.8%	-22.5%