OBAYASHI , The Current Fiscal Year Ordinary Profit Revised Upward by 46%

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Mon Feb 10, 2025 12:00 pm JST Earnings

1802 OBAYASHI CORPORATION 【J-GAAP】

Earnings Report

OBAYASHI CORPORATION <1802> [TSE Prime] announced its financial results at noon (12:00) on February 10th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 105 billion yen, an increase 73.0% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 45.9%, from the previous forecast of 98 billion yen to 143 billion yen (compared to 91.5 billion yen in the previous period), increasing the growth rate from 7.1% to 56.3%.

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 93.2%, from the previous forecast of 48.2 billion yen to 93.2 billion yen (compared to 53.5 billion yen in the same period of the previous year), turning to a 74.3% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.4 times that of the same period last year, reaching 55.9 billion yen. The operating profit margin significantly improved from 3.3% in the same period last year to 8.1%.

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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	1,441,095	65,713	73,032	56,550	78.9	72.5	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	1,701,549	51,208	61,098	47,492	66.2	66.8	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	1,881,161	97,172	105,684	95,551	133.3	73.9	Feb 10, 2025	J-GAAP
YoY	+10.6%	+89.8%	+73.0%	+101.2%	+101.2%

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	1,269,404	47,503	48,281	31,900	44.7	40	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	1,369,404	86,503	93,281	72,900	102.0	40	Feb 10, 2025	J-GAAP
Revision Rate	+7.9%	+82.1%	+93.2%	+128.5%	+128.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,510,000	93,000	98,000	87,000	121.8	80	May 13, 2024	J-GAAP
Mar, 2025 New	2,610,000	132,000	143,000	128,000	179.2	80	Feb 10, 2025	J-GAAP
Revision Rate	+4.0%	+41.9%	+45.9%	+47.1%	+47.1%

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	1,243,802	48,538	53,506	45,318	63.2	54	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,369,404	86,503	93,281	72,900	102.0	40	Feb 10, 2025	J-GAAP
YoY	+10.1%	+78.2%	+74.3%	+60.9%	+61.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,983,888	93,800	100,802	77,671	108.3	42	May 11, 2023	J-GAAP
Mar, 2024	2,325,162	79,381	91,515	75,059	104.7	75	May 13, 2024	J-GAAP
Mar, 2025 Guidance	2,610,000	132,000	143,000	128,000	179.2	80	Feb 10, 2025	J-GAAP
YoY	+12.3%	+66.3%	+56.3%	+70.5%	+71.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	620,189	20,365	23,089	17,751	24.8	3.3	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	623,613	28,173	30,417	27,567	38.5	4.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	574,706	15,372	20,300	25,847	36.1	2.7	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	665,890	30,125	29,419	29,253	40.8	4.5	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	640,565	51,675	55,965	40,451	56.4	8.1	Feb 10, 2025	J-GAAP
YoY	+3.3%	+153.7%	+142.4%	+127.9%	+127.9%