Suminoe, The Current Fiscal Year Ordinary Profit Revised Downward by 26%

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Fri Apr 11, 2025 3:30 pm JST Earnings

3501 SUMINOE Co., Ltd. 【J-GAAP】

Earnings Report

SUMINOE Co., Ltd. <3501> [TSE Prime] announced its financial results after the market closed on April 11th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending May 2025 (June 2024 to February 2025) significantly dropped 56.2% from the same period last year to 1.09 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 26.5%, from the previous forecast of 3.4 billion yen to 2.5 billion yen (compared to 3.66 billion yen in the previous period), leading to an increase in the profit decline rate from 7.3% to 31.8%.

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 30.5%, from the previous forecast of 2.95 billion yen to 2.05 billion yen (compared to 1.97 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 49.6% to 4.0%.

In the most recent three-month period, from December to February (3Q), the consolidated ordinary profit decreased to 0.64 billion yen, a 19.4% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.0% in the same period last year to 2.9%.

Kabutan News

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	68,837	78	360	-680	-53.7	22.9	Apr 13, 2023	J-GAAP
Jun - Feb, 2023	77,179	2,187	2,496	1,055	80.4	68.0	Apr 11, 2024	J-GAAP
Jun - Feb, 2024	76,735	1,490	1,093	85	6.4	43.7	Apr 11, 2025	J-GAAP
YoY	-0.6%	-31.9%	-56.2%	-91.9%	-92.1%

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	54,602	2,558	2,954	1,435	108.3	20	Jan 14, 2025	J-GAAP
Dec - May, 2024 New	53,002	2,158	2,054	885	66.8	20	Apr 11, 2025	J-GAAP
Revision Rate	-2.9%	-15.6%	-30.5%	-38.3%	-38.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2025 Prev	105,300	3,300	3,400	1,500	113.3	40	Jan 14, 2025	J-GAAP
May, 2025 New	103,700	2,900	2,500	950	71.7	40	Apr 11, 2025	J-GAAP
Revision Rate	-1.5%	-12.1%	-26.5%	-36.7%	-36.7%

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	52,069	1,895	1,975	121	9.2	17.50	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	53,002	2,158	2,054	885	66.8	20	Apr 11, 2025	J-GAAP
YoY	+1.8%	+13.9%	+4.0%	+631.4%	+630.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	94,828	1,294	1,575	320	25.3	27.50	Jul 14, 2023	J-GAAP
May, 2024	103,478	3,300	3,668	874	66.1	35	Jul 12, 2024	J-GAAP
May, 2025 Guidance	103,700	2,900	2,500	950	71.7	40	Apr 11, 2025	J-GAAP
YoY	+0.2%	-12.1%	-31.8%	+8.7%	+8.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Dec - Feb, 2023	25,770	782	803	302	23.0	3.0	Apr 11, 2024	J-GAAP
Mar - May, 2024	26,299	1,113	1,172	-181	-13.7	4.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	24,567	82	-139	-462	-34.2	0.3	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	26,131	660	585	527	39.7	2.5	Jan 14, 2025	J-GAAP
Dec - Feb, 2024	26,037	748	647	20	1.5	2.9	Apr 11, 2025	J-GAAP
YoY	+1.0%	-4.3%	-19.4%	-93.4%	-93.5%