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SHOEI, First Half Ordinary Profit Decreases by 19%, Jan-Mar Ordinary Profit Decreases by 32%

Fri Apr 25, 2025 3:30 pm JST Earnings

7839 SHOEI CO., LTD. 【J-GAAP】

Earnings Report

SHOEI CO., LTD. <7839> [TSE Prime] announced its financial results after the market closed on April 25th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending September 2025 (October 2024 to March 2025) decreased 18.7% from the same period last year to 4.34 billion yen. The progress rate toward the full-year plan of 8.76 billion yen was 49.6%, almost the same as the five-year average of 47.3%.

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 April to September period (2H) is expected to decrease 14.3% from the same period last year to 4.41 billion yen.

In the most recent three-month period, from January to March (2Q), the consolidated ordinary profit dropped to 1.78 billion yen, a 32.0% decrease compared to the same period last year. The operating profit margin decreased from 29.4% in the same period last year to 28.0%.

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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
Oct - Mar, 2022 15,216 4,923 4,893 3,456 64.4 49.6 Apr 26, 2023 J-GAAP
Oct - Mar, 2023 16,454 5,275 5,345 3,738 70.6 50.9 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 14,562 4,373 4,343 3,040 57.9 49.6 Apr 25, 2025 J-GAAP
YoY -11.5% -17.1% -18.7% -18.7% -18.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Guidance 15,200 4,450 4,440 3,020 57.5 0 Nov 15, 2024 J-GAAP
Oct - Mar, 2024 Results 14,562 4,373 4,343 3,040 57.9 0 Apr 25, 2025 J-GAAP
Revision Rate -4.2% -1.7% -2.2% +0.7% +0.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 19,336 5,055 5,157 3,639 69.0 70 Nov 15, 2024 J-GAAP
Apr - Sep, 2025 Guidance 19,358 4,397 4,417 3,180 60.5 59 Apr 25, 2025 J-GAAP
YoY +0.1% -13.0% -14.3% -12.6% -12.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2023 33,616 9,825 9,858 7,068 131.7 66 Nov 15, 2023 J-GAAP
Sep, 2024 35,790 10,330 10,502 7,377 139.9 70 Nov 15, 2024 J-GAAP
Sep, 2025 Guidance 33,920 8,770 8,760 6,220 118.3 59 Nov 15, 2024 J-GAAP
YoY -5.2% -15.1% -16.6% -15.7% -15.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 8,309 2,440 2,618 1,825 34.5 29.4 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 9,042 2,564 2,716 1,885 35.7 28.4 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 10,294 2,491 2,441 1,754 33.3 24.2 Nov 15, 2024 J-GAAP
Oct - Dec, 2024 7,838 2,488 2,562 1,804 34.3 31.7 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 6,724 1,885 1,781 1,236 23.5 28.0 Apr 25, 2025 J-GAAP
YoY -19.1% -22.7% -32.0% -32.3% -31.8%

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