Business Engineering, The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Raises Record High Profit Forecast, Dividend Revised Upward by 16 yen

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Fri Feb 7, 2025 12:00 pm JST Earnings

4828 Business Engineering Corporation 【J-GAAP】

Earnings Report

Business Engineering Corporation <4828> [TSE Prime] announced its financial results at noon (12:00) on February 7th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 17.3% from the same period last year, reaching 3.67 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 7.0%, from the previous forecast of 4.3 billion yen to 4.6 billion yen (compared to 3.87 billion yen in the previous period), increasing the growth rate from 10.9% to 18.6%, further surpassing the previous forecast of record-high profits for nine 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) is expected to increase 16.0%, from the previous forecast of 1.87 billion yen to 2.17 billion yen (compared to 1.75 billion yen in the same period of the previous year), increasing the growth rate from 6.8% to 23.9%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 84 yen to 100 yen (compared to 78 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 23.6% from the same period last year, reaching 1.24 billion yen. The operating profit margin rose from 21.1% in the same period last year to 24.1%.

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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	13,733	2,529	2,535	1,715	143.0	78.0	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	14,589	3,122	3,132	2,132	177.9	80.8	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	15,257	3,662	3,673	2,497	208.6	79.8	Feb 7, 2025	J-GAAP
YoY	+4.6%	+17.3%	+17.3%	+17.1%	+17.2%

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	10,408	1,883	1,870	1,242	103.7	42	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	10,608	2,183	2,170	1,692	141.3	58	Feb 7, 2025	J-GAAP
Revision Rate	+1.9%	+15.9%	+16.0%	+36.2%	+36.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	20,500	4,300	4,300	2,900	242.2	84	Nov 12, 2024	J-GAAP
Mar, 2025 New	20,700	4,600	4,600	3,350	279.8	100	Feb 7, 2025	J-GAAP
Revision Rate	+1.0%	+7.0%	+7.0%	+15.5%	+15.5%

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	9,685	1,771	1,751	1,182	98.7	46	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,608	2,183	2,170	1,692	141.3	58	Feb 7, 2025	J-GAAP
YoY	+9.5%	+23.3%	+23.9%	+43.1%	+43.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,506	3,246	3,250	2,328	194.0	64	May 12, 2023	J-GAAP
Mar, 2024	19,493	3,885	3,877	2,625	219.1	78	May 10, 2024	J-GAAP
Mar, 2025 Guidance	20,700	4,600	4,600	3,350	279.8	100	Feb 7, 2025	J-GAAP
YoY	+6.2%	+18.4%	+18.6%	+27.6%	+27.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	4,781	1,008	1,006	689	57.5	21.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	4,904	763	745	493	41.2	15.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,042	1,167	1,183	803	67.1	23.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	5,050	1,250	1,247	855	71.4	24.8	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	5,165	1,245	1,243	839	70.1	24.1	Feb 7, 2025	J-GAAP
YoY	+8.0%	+23.5%	+23.6%	+21.8%	+21.9%