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West Holdings, First Half Ordinary Profit Decreases by 57%

Mon Apr 14, 2025 10:00 am JST Earnings

1407 West Holdings corporation 【J-GAAP】

Earnings Report

West Holdings corporation <1407> [TSE Std] announced its financial results in the morning on April 14th (10:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending August 2025 (September 2024 to February 2025) significantly dropped 56.7% from the same period last year to 1.11 billion yen, fell short of the previous forecast of 2.09 billion yen.

The progress rate toward the full-year plan of 11.9 billion yen was 9.3%, also falling below the five-year average of 28.7%.

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 March to August period (2H) is expected to expand 46.3% from the same period last year, reaching 10.8 billion yen.

In the most recent three-month period, from December to February (2Q), the consolidated ordinary profit dropped to 1 billion yen, a 30.4% decrease compared to the same period last year. The operating profit margin decreased from 14.5% in the same period last year to 12.7%.

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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
Sep - Feb, 2022 14,801 1,510 1,219 1,052 25.9 15.3 Apr 14, 2023 J-GAAP
Sep - Feb, 2023 19,915 2,913 2,568 1,864 45.8 25.8 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 14,868 1,438 1,112 546 13.8 9.3 Apr 14, 2025 J-GAAP
YoY -25.3% -50.6% -56.7% -70.7% -69.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 Guidance 16,710 2,659 2,097 1,242 31.3 0 Oct 15, 2024 J-GAAP
Sep - Feb, 2024 Results 14,868 1,438 1,112 546 13.8 0 Apr 14, 2025 J-GAAP
Revision Rate -11.0% -45.9% -47.0% -56.0% -56.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 30,475 7,684 7,388 4,893 121.3 65 Oct 15, 2024 J-GAAP
Mar - Aug, 2025 Guidance 41,550 11,783 10,809 7,464 188.2 65 Apr 14, 2025 J-GAAP
YoY +36.3% +53.3% +46.3% +52.5% +55.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 43,734 8,499 7,972 6,016 148.0 55 Oct 13, 2023 J-GAAP
Aug, 2024 50,390 10,597 9,956 6,757 167.5 65 Oct 15, 2024 J-GAAP
Aug, 2025 Guidance 56,418 13,221 11,921 8,010 202.0 65 Oct 15, 2024 J-GAAP
YoY +12.0% +24.8% +19.7% +18.5% +20.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Dec - Feb, 2023 11,048 1,603 1,447 1,044 25.7 14.5 Apr 12, 2024 J-GAAP
Mar - May, 2024 9,793 1,284 994 731 18.0 13.1 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 20,682 6,400 6,394 4,162 103.2 30.9 Oct 15, 2024 J-GAAP
Sep - Nov, 2024 5,265 221 105 -122 -3.1 4.2 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 9,603 1,217 1,007 668 16.9 12.7 Apr 14, 2025 J-GAAP
YoY -13.1% -24.1% -30.4% -36.0% -34.3%

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