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IWATSUKA CONFECTIONERY CO.,LTD., First Half Ordinary Profit Increases by 54%, July-September Ordinary Profit Increases by 54%

Mon Nov 11, 2024 3:30 pm JST Earnings

2221 IWATSUKA CONFECTIONERY CO.,LTD. 【J-GAAP】

Earnings Report

IWATSUKA CONFECTIONERY CO.,LTD. <2221> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.35 billion yen, an increase of 54.2% compared to the same period last year. The progress rate against the 3.5 billion yen full-year plan was 96.0%, also surpassing the five-year average of 72.1%.

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 77.6% from the same period last year to 141 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 53.9% from the same period last year, reaching 2.93 billion yen. The operating profit/loss margin improved from -1.0% in the same period last year to 0.2%.

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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 9,591 -267 4,426 3,234 288.6 81.2 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 10,209 82 2,178 1,499 133.8 77.6 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 11,614 290 3,359 2,369 227.8 96.0 Nov 11, 2024 J-GAAP
YoY +13.8% +253.7% +54.2% +58.0% +70.3%

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 11,700 300 3,000 2,000 192.3 0 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 11,614 290 3,359 2,369 227.8 0 Nov 11, 2024 J-GAAP
Revision Rate -0.7% -3.3% +12.0% +18.5% +18.5%

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 11,791 521 630 458 41.0 23 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,386 360 141 31 3.0 25 Nov 11, 2024 J-GAAP
YoY +5.0% -30.9% -77.6% -93.2% -92.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 20,386 -213 5,454 3,970 354.3 18.50 May 12, 2023 J-GAAP
Mar, 2024 22,000 603 2,808 1,957 175.4 23 May 14, 2024 J-GAAP
Mar, 2025 Guidance 24,000 650 3,500 2,400 230.7 25 Aug 9, 2024 J-GAAP
YoY +9.1% +7.8% +24.6% +22.6% +31.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,903 -49 1,905 1,334 119.1 -1.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 6,288 538 556 429 38.3 8.6 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 5,503 -17 74 29 2.6 -0.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 5,965 280 427 322 31.0 4.7 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 5,649 10 2,932 2,047 196.8 0.2 Nov 11, 2024 J-GAAP
YoY +15.2% － +53.9% +53.4% +65.3%

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