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Youji Corporation, First Half Ordinary Profit Revised Downward to an Unexpected 18%Decrease

Thu Oct 31, 2024 4:00 pm JST Earnings

2152 Youji Corporation 【J-GAAP】

Earnings Report

Youji Corporation <2152> [TSE-S] announced its financial results after the market closed on October 31st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.8% from the same period last year to 508 million yen, resulting in a decrease in profits compared to the previous forecast of a 1.9% increase.

The progress rate against the 1.4 billion yen full-year plan was 36.3%, also falling below the five-year average of 39.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 16.0% from the same period last year, reaching 892 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 256 million yen, a 22.4% decrease compared to the same period last year. The operating profit margin decreased from 18.9% in the same period last year to 14.2%.

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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 3,406 686 705 485 45.0 47.3 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 3,378 597 618 427 39.6 44.6 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 3,433 478 508 349 32.4 36.3 Oct 31, 2024 J-GAAP
YoY +1.6% -19.9% -17.8% -18.3% -18.2%

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 3,500 610 630 435 40.3 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 3,433 478 508 349 32.4 0 Oct 31, 2024 J-GAAP
Revision Rate -1.9% -21.6% -19.4% -19.8% -19.6%

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 3,573 739 769 538 49.8 23 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,767 872 892 626 58.0 23 Oct 31, 2024 J-GAAP
YoY +5.4% +18.0% +16.0% +16.4% +16.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,917 1,453 1,491 1,079 100.0 22 May 10, 2023 J-GAAP
Mar, 2024 6,951 1,336 1,387 965 89.3 23 May 13, 2024 J-GAAP
Mar, 2025 Guidance 7,200 1,350 1,400 975 90.3 23 May 13, 2024 J-GAAP
YoY +3.6% +1.0% +0.9% +1.0% +1.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,697 321 330 222 20.6 18.9 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 1,741 359 373 272 25.2 20.6 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 1,832 380 396 266 24.6 20.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 1,702 232 252 178 16.5 13.6 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 1,731 246 256 171 15.9 14.2 Oct 31, 2024 J-GAAP
YoY +2.0% -23.4% -22.4% -23.0% -22.9%

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