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SAN HOLDINGS, The Current Fiscal Year Net Income Revised Downward to an Unexpected 1% Decrease

Thu Feb 6, 2025 4:00 pm JST Earnings

9628 SAN HOLDINGS,INC. 【J-GAAP】

Earnings Report

SAN HOLDINGS,INC. <9628> [TSE Prime] announced its financial results after the market closed on February 6th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 10.8% from the same period last year to 1.47 billion yen.

In addition, the full-year consolidated net income has decreased 4.9%, from the previous forecast of 2.45 billion yen to 2.33 billion yen (compared to 2.36 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 1.4% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (2H) has decreased 8.0%, from the previous forecast of 1.5 billion yen to 1.38 billion yen (compared to 1.27 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 17.9% to 8.5%.

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 0.52 billion yen, a 6.5% decrease compared to the same period last year. The operating profit margin significantly dropped from 15.7% in the same period last year to 9.9%.

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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 15,708 2,969 2,936 1,934 91.5 76.4 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 16,118 2,569 2,575 1,650 79.6 67.8 Feb 8, 2024 J-GAAP
Apr - Dec, 2024 20,769 2,487 2,492 1,471 72.0 65.1 Feb 6, 2025 J-GAAP
YoY +28.9% -3.2% -3.2% -10.8% -9.6%

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 13,114 2,286 2,266 1,507 73.7 12 Nov 7, 2024 J-GAAP
Oct - Mar, 2024 New 20,214 2,306 2,266 1,387 67.8 12 Feb 6, 2025 J-GAAP
Revision Rate +54.1% +0.9% 0.0% -8.0% -8.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 24,300 3,820 3,830 2,450 119.7 24 May 10, 2024 J-GAAP
Mar, 2025 New 31,400 3,840 3,830 2,330 113.9 24 Feb 6, 2025 J-GAAP
Revision Rate +29.2% +0.5% 0.0% -4.9% -4.9%

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 12,030 2,118 2,116 1,278 61.9 12 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 20,214 2,306 2,266 1,387 67.8 12 Feb 6, 2025 J-GAAP
YoY +68.0% +8.9% +7.1% +8.5% +9.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 21,663 3,868 3,843 2,783 131.9 22 May 11, 2023 J-GAAP
Mar, 2024 22,437 3,789 3,800 2,363 114.4 23.50 May 10, 2024 J-GAAP
Mar, 2025 Guidance 31,400 3,840 3,830 2,330 113.9 24 Feb 6, 2025 J-GAAP
YoY +39.9% +1.3% +0.8% -1.4% -0.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 5,711 898 891 565 27.3 15.7 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 6,319 1,220 1,225 713 34.5 19.3 May 10, 2024 J-GAAP
Apr - Jun, 2024 5,518 845 863 551 27.0 15.3 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 5,668 689 701 392 19.2 12.2 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 9,583 953 928 528 25.9 9.9 Feb 6, 2025 J-GAAP
YoY +67.8% +6.1% +4.2% -6.5% -5.2%

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