TSUTSUMI JEWELRY, The Current Fiscal Year Ordinary Profit Revised Upward by 9%

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Fri Feb 7, 2025 2:00 pm JST Earnings

7937 TSUTSUMI JEWELRY CO.,LTD. 【J-GAAP】

Earnings Report

TSUTSUMI JEWELRY CO.,LTD. <7937> [TSE Std] announced its financial results in the afternoon session on February 7th (14:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 1.82 billion yen, an increase 51.4% compared to the same period last year.

In addition, the full-year ordinary profit has been revised upward 8.9%, from the previous forecast of 1.79 billion yen to 1.95 billion yen (compared to 1.73 billion yen in the previous period), increasing the growth rate from 3.0% to 12.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the October to March period (2H) has been revised upward 20.9%, from the previous forecast of 0.76 billion yen to 0.92 billion yen (compared to 1.22 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 37.4% to 24.3%.

In the most recent three-month period, from October to December (3Q), the ordinary profit grew 15.9% from the same period last year, reaching 0.8 billion yen. However, the operating profit margin decreased from 12.5% in the same period last year to 11.3%.

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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	13,519	1,109	1,161	730	46.8	77.0	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	14,534	1,156	1,207	819	52.4	69.4	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	18,197	1,760	1,827	1,551	99.3	93.7	Feb 7, 2025	J-GAAP
YoY	+25.2%	+52.2%	+51.4%	+89.4%	+89.5%

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	11,283	718	766	460	29.4	35	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	12,683	888	926	540	34.6	35	Feb 7, 2025	J-GAAP
Revision Rate	+12.4%	+23.7%	+20.9%	+17.4%	+17.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	22,600	1,700	1,790	1,500	96.0	70	Nov 8, 2024	J-GAAP
Mar, 2025 New	24,000	1,870	1,950	1,580	101.1	70	Feb 7, 2025	J-GAAP
Revision Rate	+6.2%	+10.0%	+8.9%	+5.3%	+5.3%

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	10,843	1,197	1,224	852	54.6	35	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,683	888	926	540	34.6	35	Feb 7, 2025	J-GAAP
YoY	+17.0%	-25.8%	-24.3%	-36.6%	-36.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,119	1,465	1,507	909	58.2	40	May 12, 2023	J-GAAP
Mar, 2024	19,907	1,671	1,738	1,155	74.0	60	May 9, 2024	J-GAAP
Mar, 2025 Guidance	24,000	1,870	1,950	1,580	101.1	70	Feb 7, 2025	J-GAAP
YoY	+20.6%	+11.9%	+12.2%	+36.8%	+36.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	5,470	682	693	516	33.0	12.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	5,373	515	531	336	21.5	9.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	5,568	530	555	723	46.3	9.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,749	452	469	317	20.3	7.9	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	6,880	778	803	511	32.7	11.3	Feb 7, 2025	J-GAAP
YoY	+25.8%	+14.1%	+15.9%	-1.0%	-0.9%