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ITOCHU-SHOKUHIN Co., Ltd., First Half Ordinary Profit Increases by 39%

Thu Oct 31, 2024 1:00 pm JST Earnings

2692 ITOCHU-SHOKUHIN Co., Ltd. 【J-GAAP】

Earnings Report

ITOCHU-SHOKUHIN Co., Ltd. <2692> [TSE-P] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 7.02 billion yen, an increase of 39.2% compared to the same period last year, exceeded the previous forecast of 6 billion yen.

The progress rate against the 10 billion yen full-year plan was 70.3%, also surpassing the five-year average of 44.1%.

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 decrease by 28.8% from the same period last year to 2.97 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 67.9% from the same period last year, reaching 3.88 billion yen. The operating profit margin remained almost flat, changing from 1.2% in the same period last year to 1.4%.

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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 326,002 3,419 4,116 2,874 226.5 46.0 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 338,881 4,315 5,048 3,533 278.5 54.8 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 352,385 4,969 7,028 5,157 406.5 70.3 Oct 31, 2024 J-GAAP
YoY +4.0% +15.2% +39.2% +46.0% +46.0%

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 370,000 5,500 6,000 4,000 315.3 60 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 352,385 4,969 7,028 5,157 406.5 60 Oct 31, 2024 J-GAAP
Revision Rate -4.8% -9.7% +17.1% +28.9% +28.9%

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 333,570 3,345 4,172 3,065 241.6 60 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 347,615 4,031 2,972 1,843 145.3 60 Oct 31, 2024 J-GAAP
YoY +4.2% +20.5% -28.8% -39.9% -39.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 642,953 7,507 8,943 4,843 381.7 80 May 1, 2023 J-GAAP
Mar, 2024 672,451 7,660 9,220 6,598 520.1 110 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 700,000 9,000 10,000 7,000 551.8 120 Apr 30, 2024 J-GAAP
YoY +4.1% +17.5% +8.5% +6.1% +6.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 176,653 2,171 2,314 1,578 124.4 1.2 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 184,681 3,885 4,468 3,157 248.8 2.1 Feb 1, 2024 J-GAAP
Jan - Mar, 2024 148,889 -540 -296 -92 -7.3 -0.4 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 169,578 2,498 3,143 2,123 167.3 1.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 182,807 2,471 3,885 3,034 239.2 1.4 Oct 31, 2024 J-GAAP
YoY +3.5% +13.8% +67.9% +92.3% +92.3%

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