Oriental Shiraishi Corporation, First Half Ordinary Profit Increases by 66%, July-September Ordinary Profit Increases by 44%

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Tue Nov 12, 2024 4:00 pm JST Earnings

1786 Oriental Shiraishi Corporation 【J-GAAP】

Earnings Report

Oriental Shiraishi Corporation <1786> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 4.06 billion yen, an increase of 65.5% compared to the same period last year. The progress rate against the 5 billion yen full-year plan was 81.2%, also surpassing the five-year average of 43.2%.

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 October to March period (second half) is expected to significant drop by 77.2% from the same period last year to 940 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 43.8% from the same period last year, reaching 1.91 billion yen. The operating profit margin significantly improved from 8.7% in the same period last year to 11.8%.

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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
Apr - Sep, 2022	26,203	1,983	2,115	1,448	12.5	39.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	30,742	2,390	2,453	1,674	13.2	37.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	33,045	4,018	4,060	2,739	20.7	81.2	Nov 12, 2024	J-GAAP
YoY	+7.5%	+68.1%	+65.5%	+63.6%	+56.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	7	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	33,045	4,018	4,060	2,739	20.7	7	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	36,640	4,143	4,127	2,958	22.8	8	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,955	982	940	761	5.8	7.50	Nov 12, 2024	J-GAAP
YoY	-12.8%	-76.3%	-77.2%	-74.3%	-74.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	61,480	5,214	5,427	3,922	33.8	13.50	May 12, 2023	J-GAAP
Mar, 2024	67,382	6,533	6,580	4,632	35.7	14.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	65,000	5,000	5,000	3,500	26.7	14.50	May 13, 2024	J-GAAP
YoY	-3.5%	-23.5%	-24.0%	-24.4%	-25.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,150	1,314	1,334	899	7.1	8.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	18,553	2,679	2,690	1,830	14.2	14.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	18,087	1,464	1,437	1,128	8.7	8.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	16,936	2,116	2,142	1,438	10.9	12.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,109	1,902	1,918	1,301	9.8	11.8	Nov 12, 2024	J-GAAP
YoY	+6.3%	+44.7%	+43.8%	+44.7%	+38.7%