Brass Corp, Nov-Jan (2Q) Ordinary Profit Increases by 2.3 times

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Fri Mar 14, 2025 3:50 pm JST Earnings

2424 Brass Corporation 【J-GAAP】

Earnings Report

Brass Corporation <2424> [TSE Std] announced its financial results after the market closed on March 14th (15:50). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending July 2025 (August 2024 to January 2025) decreased 8.6% from the same period last year to 362 million yen. The progress rate toward the full-year plan of 611 million yen was 59.2%, below the five-year average of 66.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the February to July period (2H) is expected to surge 2.7 times that of the same period last year, reaching 249 million yen.

In the most recent three-month period, from November to January (2Q), the consolidated ordinary profit surged 2.3 times that of the same period last year, reaching 280 million yen. The operating profit margin significantly improved from 3.8% in the same period last year to 8.3%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Aug - Jan, 2022	6,688	900	914	638	117.6	76.1	Mar 14, 2023	J-GAAP
Aug - Jan, 2023	6,256	381	396	234	43.2	81.1	Mar 15, 2024	J-GAAP
Aug - Jan, 2024	6,461	346	362	235	44.2	59.2	Mar 14, 2025	J-GAAP
YoY	+3.3%	-9.2%	-8.6%	+0.4%	+2.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2024 Guidance	6,557	318	333	200	37.6	0	Sep 13, 2024	J-GAAP
Aug - Jan, 2024 Results	6,461	346	362	235	44.2	0	Mar 14, 2025	J-GAAP
Revision Rate	-1.5%	+8.8%	+8.7%	+17.5%	+17.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024	6,470	73	92	41	7.6	8	Sep 13, 2024	J-GAAP
Feb - Jul, 2025 Guidance	7,319	235	249	132	24.8	8	Mar 14, 2025	J-GAAP
YoY	+13.1%	+221.9%	+170.7%	+222.0%	+225.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul, 2023	13,260	1,173	1,201	722	132.9	6	Sep 14, 2023	J-GAAP
Jul, 2024	12,726	454	488	275	51.1	8	Sep 13, 2024	J-GAAP
Jul, 2025 Guidance	13,780	581	611	367	69.0	8	Sep 13, 2024	J-GAAP
YoY	+8.3%	+28.0%	+25.2%	+33.5%	+35.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Nov - Jan, 2023	3,044	116	124	63	11.6	3.8	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	3,327	79	89	50	9.3	2.4	Jun 14, 2024	J-GAAP
May - Jul, 2024	3,143	-6	3	-9	-1.7	-0.2	Sep 13, 2024	J-GAAP
Aug - Oct, 2024	3,180	74	82	52	9.9	2.3	Dec 13, 2024	J-GAAP
Nov - Jan, 2024	3,281	272	280	183	34.4	8.3	Mar 14, 2025	J-GAAP
YoY	+7.8%	+134.5%	+125.8%	+190.5%	+196.1%