ASKUL, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 18% Decrease

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Tue Mar 18, 2025 3:30 pm JST Earnings

2678 ASKUL Corporation 【J-GAAP】

Earnings Report

ASKUL Corporation <2678> [TSE Prime] announced its financial results after the market closed on March 18th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending May 2025 (June 2024 to February 2025) decreased 21.4% from the same period last year to 9.65 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 22.6%, from the previous forecast of 17.7 billion yen to 13.7 billion yen (compared to 16.6 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 17.9% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the December to May period (2H) has decreased 34.0%, from the previous forecast of 11.7 billion yen to 7.78 billion yen (compared to 9.57 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 18.7% decrease in profit.

In the most recent three-month period, from December to February (3Q), the consolidated ordinary profit decreased to 3.73 billion yen, a 28.0% decrease compared to the same period last year. The operating profit margin worsened from 4.4% in the same period last year to 3.1%.

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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
Jun - Feb, 2022	334,224	10,361	10,269	7,093	72.8	71.1	Mar 15, 2023	J-GAAP
Jun - Feb, 2023	350,063	12,493	12,290	16,146	165.6	73.7	Mar 15, 2024	J-GAAP
Jun - Feb, 2024	358,833	9,801	9,656	6,110	64.1	70.5	Mar 18, 2025	J-GAAP
YoY	+2.5%	-21.5%	-21.4%	-62.2%	-61.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2024 Prev	262,068	11,972	11,780	7,461	79.1	19	Dec 13, 2024	J-GAAP
Dec - May, 2024 New	242,068	7,972	7,780	4,761	50.5	19	Mar 18, 2025	J-GAAP
Revision Rate	-7.6%	-33.4%	-34.0%	-36.2%	-36.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2025 Prev	500,000	18,000	17,700	11,200	118.8	38	Jul 3, 2024	J-GAAP
May, 2025 New	480,000	14,000	13,700	8,500	90.1	38	Mar 18, 2025	J-GAAP
Revision Rate	-4.0%	-22.2%	-22.6%	-24.1%	-24.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	240,394	9,711	9,573	14,502	148.9	18	Jul 3, 2024	J-GAAP
Dec - May, 2024 Guidance	242,068	7,972	7,780	4,761	50.5	19	Mar 18, 2025	J-GAAP
YoY	+0.7%	-17.9%	-18.7%	-67.2%	-66.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	446,713	14,620	14,448	9,787	100.4	34	Jul 4, 2023	J-GAAP
May, 2024	471,682	16,953	16,677	19,139	196.5	36	Jul 3, 2024	J-GAAP
May, 2025 Guidance	480,000	14,000	13,700	8,500	90.1	38	Mar 18, 2025	J-GAAP
YoY	+1.8%	-17.4%	-17.9%	-55.6%	-54.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Dec - Feb, 2023	118,775	5,251	5,186	11,509	118.1	4.4	Mar 15, 2024	J-GAAP
Mar - May, 2024	121,619	4,460	4,387	2,993	30.7	3.7	Jul 3, 2024	J-GAAP
Jun - Aug, 2024	118,384	2,574	2,510	1,544	16.1	2.2	Sep 13, 2024	J-GAAP
Sep - Nov, 2024	119,548	3,454	3,410	2,195	23.0	2.9	Dec 13, 2024	J-GAAP
Dec - Feb, 2024	120,901	3,773	3,736	2,371	24.9	3.1	Mar 18, 2025	J-GAAP
YoY	+1.8%	-28.1%	-28.0%	-79.4%	-78.9%