Oriental Shiraishi, The Current Fiscal Year Ordinary Profit Revised Upward by 6%

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Wed Feb 12, 2025 4:00 pm JST Earnings

1786 Oriental Shiraishi Corporation 【J-GAAP】

Earnings Report

Oriental Shiraishi Corporation <1786> [TSE Prime] announced its financial results after the market closed on February 12th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 6.5% from the same period last year, reaching 5.47 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 6.0%, from the previous forecast of 5 billion yen to 5.3 billion yen (compared to 6.58 billion yen in the previous period), and the declining rate is expected to decrease from 24.0% to 19.5%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 31.9%, from the previous forecast of 0.94 billion yen to 1.24 billion yen (compared to 4.12 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 77.2% to 70.0%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit dropped to 1.41 billion yen, a 47.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.4% in the same period last year to 7.9%.

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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
Apr - Dec, 2022	43,068	3,937	4,128	2,806	24.2	76.1	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	49,295	5,069	5,143	3,504	27.2	78.2	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	50,112	5,366	5,476	3,727	28.1	103.3	Feb 12, 2025	J-GAAP
YoY	+1.7%	+5.9%	+6.5%	+6.4%	+3.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	31,955	982	940	761	5.8	7.50	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	31,955	1,282	1,240	961	7.3	7.50	Feb 12, 2025	J-GAAP
Revision Rate	0.0%	+30.5%	+31.9%	+26.3%	+26.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	65,000	5,000	5,000	3,500	26.7	14.50	May 13, 2024	J-GAAP
Mar, 2025 New	65,000	5,300	5,300	3,700	28.2	14.50	Feb 12, 2025	J-GAAP
Revision Rate	0.0%	+6.0%	+6.0%	+5.7%	+5.7%

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	1,282	1,240	961	7.3	7.50	Feb 12, 2025	J-GAAP
YoY	-12.8%	-69.1%	-70.0%	-67.5%	-67.9%

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	5,300	5,300	3,700	28.2	14.50	Feb 12, 2025	J-GAAP
YoY	-3.5%	-18.9%	-19.5%	-20.1%	-21.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
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
Oct - Dec, 2024	17,067	1,348	1,416	988	7.5	7.9	Feb 12, 2025	J-GAAP
YoY	-8.0%	-49.7%	-47.4%	-46.0%	-47.5%