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SATO FOODS, First Half Ordinary Profit Decreases by 8%

Tue Dec 10, 2024 3:30 pm JST Earnings

2923 SATO FOODS CO., LTD. 【J-GAAP】

Earnings Report

SATO FOODS CO., LTD. <2923> [TSE Std] announced its financial results after the market closed on December 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) decreased 8.0% from the same period last year to 1.07 billion yen. The progress rate toward the full-year plan of 2.45 billion yen was 43.8%, which was higher than the five-year average of 35.1%.

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 November to April period (second half) is expected to decrease 25.3% from the same period last year to 1.37 billion yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit decreased to 824 million yen, a 5.1% decrease compared to the same period last year. The operating profit margin worsened from 8.2% in the same period last year to 6.5%.

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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
May - Oct, 2022 15,906 698 904 650 128.9 34.8 Dec 7, 2022 J-GAAP
May - Oct, 2023 16,574 986 1,166 834 165.5 38.8 Dec 13, 2023 J-GAAP
May - Oct, 2024 18,647 862 1,073 731 145.1 43.8 Dec 10, 2024 J-GAAP
YoY +12.5% -12.6% -8.0% -12.4% -12.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May - Oct, 2024 Guidance ー ー ー ー － 0 Sep 10, 2024 J-GAAP
May - Oct, 2024 Results 18,647 862 1,073 731 145.1 0 Dec 10, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov - Apr, 2023 26,007 1,670 1,843 1,461 289.8 60 Jun 13, 2024 J-GAAP
Nov - Apr, 2024 Guidance 26,353 1,238 1,377 979 194.1 60 Dec 10, 2024 J-GAAP
YoY +1.3% -25.9% -25.3% -33.0% -33.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr, 2023 39,666 2,250 2,599 1,841 365.1 55 Jun 13, 2023 J-GAAP
Apr, 2024 42,581 2,656 3,009 2,295 455.2 60 Jun 13, 2024 J-GAAP
Apr, 2025 Guidance 45,000 2,100 2,450 1,710 339.0 60 Sep 10, 2024 J-GAAP
YoY +5.7% -20.9% -18.6% -25.5% -25.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 9,655 794 868 607 120.5 8.2 Dec 13, 2023 J-GAAP
Nov - Jan, 2023 17,266 2,246 2,361 1,610 319.3 13.0 Mar 14, 2024 J-GAAP
Feb - Apr, 2024 8,741 -576 -518 -149 -29.6 -6.6 Jun 13, 2024 J-GAAP
May - Jul, 2024 7,548 141 249 170 33.9 1.9 Sep 10, 2024 J-GAAP
Aug - Oct, 2024 11,099 721 824 561 111.4 6.5 Dec 10, 2024 J-GAAP
YoY +15.0% -9.2% -5.1% -7.6% -7.6%

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