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SHINYEI KAISHA, First Half Ordinary Profit Decreases by 45%, July-September Ordinary Profit Decreases by 60%

Thu Oct 31, 2024 12:00 pm JST Earnings

3004 SHINYEI KAISHA 【J-GAAP】

Earnings Report

SHINYEI KAISHA <3004> [TSE-S] announced its financial results at noon (12:00) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 44.9% from the same period last year to 575 million yen. The progress rate against the 1.65 billion yen full-year plan was 34.8%, also falling below the five-year average of 38.4%.

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 24.1% from the same period last year, reaching 1.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 191 million yen, a 59.9% decrease compared to the same period last year. The operating profit margin worsened from 4.7% in the same period last year to 3.2%.

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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 19,211 439 510 241 59.4 38.1 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 20,356 957 1,043 810 198.7 54.6 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 19,702 600 575 501 122.4 34.8 Oct 31, 2024 J-GAAP
YoY -3.2% -37.3% -44.9% -38.1% -38.4%

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 ー ー ー ー － － May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 19,702 600 575 501 122.4 － Oct 31, 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
Oct - Mar, 2023 19,848 836 866 845 206.9 80 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 21,298 1,150 1,075 849 217.3 90 Oct 31, 2024 J-GAAP
YoY +7.3% +37.6% +24.1% +0.5% +5.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 39,892 1,375 1,340 949 233.5 40 May 12, 2023 J-GAAP
Mar, 2024 40,204 1,793 1,909 1,655 405.3 80 May 10, 2024 J-GAAP
Mar, 2025 Guidance 41,000 1,750 1,650 1,350 345.5 90 May 10, 2024 J-GAAP
YoY +2.0% -2.4% -13.6% -18.4% -14.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,109 475 476 376 92.3 4.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 10,715 531 550 470 115.2 5.0 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 9,133 305 316 375 91.8 3.3 May 10, 2024 J-GAAP
Apr - Jun, 2024 9,879 284 384 302 74.0 2.9 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 9,823 316 191 199 48.6 3.2 Oct 31, 2024 J-GAAP
YoY -2.8% -33.5% -59.9% -47.1% -47.3%

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