SAKATA SEED, The Current Fiscal Year Net Income Revised Upward by 13%

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Tue Jan 14, 2025 3:30 pm JST Earnings

1377 SAKATA SEED CORPORATION 【J-GAAP】

Earnings Report

SAKATA SEED CORPORATION <1377> [TSE Prime] announced its financial results after the market closed on January 14th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending May 2025 (June to November) expanded 5.12 billion yen, an increase 58.8% compared to the same period last year, exceeded the previous forecast of 3.5 billion yen.

In addition, the full-year consolidated net income has been revised upward 12.5%, from the previous forecast of 8 billion yen to 9 billion yen (compared to 16.1 billion yen in the previous period), and the declining rate is expected to decrease from 50.5% to 44.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the December to May period (2H) is expected to significant drop 70.0% from the same period last year to 3.87 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated net income surged 3.2 times that of the same period last year, reaching 3.99 billion yen. The operating profit margin rose from 13.6% in the same period last year to 13.8%.

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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
Jun - Nov, 2022	37,994	5,550	6,507	4,278	96.5	52.9	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	40,872	5,292	5,698	3,226	72.8	51.2	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	42,325	5,672	5,650	5,123	116.8	51.4	Jan 14, 2025	J-GAAP
YoY	+3.6%	+7.2%	-0.8%	+58.8%	+60.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	45,000	5,200	5,000	3,500	79.8	30	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	42,325	5,672	5,650	5,123	116.8	30	Jan 14, 2025	J-GAAP
Revision Rate	-5.9%	+9.1%	+13.0%	+46.4%	+46.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2025 Prev	93,500	11,000	11,000	8,000	185.0	65	Jul 12, 2024	J-GAAP
May, 2025 New	93,500	11,000	11,000	9,000	208.1	65	Jan 14, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+12.5%	+12.5%

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	47,805	5,203	5,426	12,936	292.3	40	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	51,175	5,328	5,350	3,877	89.6	35	Jan 14, 2025	J-GAAP
YoY	+7.0%	+2.4%	-1.4%	-70.0%	-69.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	77,263	10,918	12,304	9,489	214.0	55	Jul 14, 2023	J-GAAP
May, 2024	88,677	10,495	11,124	16,162	365.2	65	Jul 12, 2024	J-GAAP
May, 2025 Guidance	93,500	11,000	11,000	9,000	208.1	65	Jan 14, 2025	J-GAAP
YoY	+5.4%	+4.8%	-1.1%	-44.3%	-43.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	21,709	2,957	2,644	1,267	28.6	13.6	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	18,844	2,749	2,883	2,080	46.9	14.6	Apr 5, 2024	J-GAAP
Mar - May, 2024	28,961	2,454	2,543	10,856	245.3	8.5	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	20,988	2,729	2,558	1,127	25.7	13.0	Oct 4, 2024	J-GAAP
Sep - Nov, 2024	21,337	2,943	3,092	3,996	91.1	13.8	Jan 14, 2025	J-GAAP
YoY	-1.7%	-0.5%	+16.9%	+215.4%	+219.0%