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ITOHAM YONEKYU HOLDINGS INC., First Half Ordinary Profit Decreases by 27%, July-September Ordinary Profit Decreases by 30%

Fri Nov 1, 2024 12:00 pm JST Earnings

2296 ITOHAM YONEKYU HOLDINGS INC. 【J-GAAP】

Earnings Report

ITOHAM YONEKYU HOLDINGS INC. <2296> [TSE-P] announced its financial results at noon (12:00) on November 1st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 26.5% from the same period last year to 9.03 billion yen. The progress rate against the 24 billion yen full-year plan was 37.7%, also falling below the five-year average of 54.0%.

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 grow by 8.9% from the same period last year, reaching 14.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 4.66 billion yen, a 30.3% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.2% in the same period last year to 1.9%.

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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 448,004 15,138 16,161 10,905 187.6 62.1 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 470,141 10,580 12,298 7,589 133.3 47.2 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 490,914 8,806 9,037 6,264 110.4 37.7 Nov 1, 2024 J-GAAP
YoY +4.4% -16.8% -26.5% -17.5% -17.1%

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 490,000 8,800 9,000 6,200 109.3 70 Oct 25, 2024 J-GAAP
Apr - Sep, 2024 Results 490,914 8,806 9,037 6,264 110.4 70 Nov 1, 2024 J-GAAP
Revision Rate +0.2% +0.1% +0.4% +1.0% +1.1%

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 485,439 11,756 13,738 7,964 139.9 125 May 2, 2024 J-GAAP
Oct - Mar, 2024 Guidance 494,086 13,694 14,963 8,736 154.0 75 Nov 1, 2024 J-GAAP
YoY +1.8% +16.5% +8.9% +9.7% +10.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 922,682 22,994 26,044 16,975 294.1 120 May 9, 2023 J-GAAP
Mar, 2024 955,580 22,336 26,036 15,553 273.2 125 May 2, 2024 J-GAAP
Mar, 2025 Guidance 985,000 22,500 24,000 15,000 264.4 145 Oct 25, 2024 J-GAAP
YoY +3.1% +0.7% -7.8% -3.6% -3.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 242,583 5,269 6,698 4,232 74.3 2.2 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 258,079 10,147 11,103 7,777 136.6 3.9 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 227,360 1,609 2,635 187 3.3 0.7 May 2, 2024 J-GAAP
Apr - Jun, 2024 235,771 3,929 4,369 2,956 52.1 1.7 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 255,143 4,877 4,668 3,308 58.3 1.9 Nov 1, 2024 J-GAAP
YoY +5.2% -7.4% -30.3% -21.8% -21.5%

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