JOYFUL HONDA, First Half Ordinary Profit Unexpectedly Revised Upward by 6%

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Fri Jan 31, 2025 3:30 pm JST Earnings

3191 JOYFUL HONDA CO.,LTD. 【J-GAAP】

Earnings Report

JOYFUL HONDA CO.,LTD. <3191> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending June 2025 (July to December) increased 5.9% from the same period last year, reaching 6.44 billion yen, resulting in an increase in profits compared to the previous forecast of a 2.1% decrease.

The progress rate toward the full-year plan of 11.7 billion yen was 55.1%, almost the same as the five-year average of 52.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the January to June period (2H) is expected to decrease 5.4% from the same period last year to 5.25 billion yen.

In the most recent three-month period, from October to December (2Q), the ordinary profit grew 4.6% from the same period last year, reaching 3.13 billion yen. The operating profit margin remained almost flat, changing from 8.6% in the same period last year to 8.8%.

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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
Jul - Dec, 2022	62,236	6,192	6,692	4,589	70.7	54.7	Feb 1, 2023	J-GAAP
Jul - Dec, 2023	63,332	5,527	6,089	4,180	66.6	52.3	Feb 2, 2024	J-GAAP
Jul - Dec, 2024	65,064	5,889	6,446	4,393	70.7	55.1	Jan 31, 2025	J-GAAP
YoY	+2.7%	+6.5%	+5.9%	+5.1%	+6.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Guidance	63,870	5,410	5,960	4,130	66.3	32	Aug 2, 2024	J-GAAP
Jul - Dec, 2024 Results	65,064	5,889	6,446	4,393	70.7	32	Jan 31, 2025	J-GAAP
Revision Rate	+1.9%	+8.9%	+8.2%	+6.4%	+6.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	63,562	5,041	5,556	4,911	78.8	25	Aug 2, 2024	J-GAAP
Jan - Jun, 2025 Guidance	62,936	4,711	5,254	3,607	59.7	32	Jan 31, 2025	J-GAAP
YoY	-1.0%	-6.5%	-5.4%	-26.6%	-24.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2023	123,362	11,095	12,240	8,528	131.6	46	Aug 2, 2023	J-GAAP
Jun, 2024	126,894	10,568	11,645	9,091	145.9	50	Aug 2, 2024	J-GAAP
Jun, 2025 Guidance	128,000	10,600	11,700	8,000	132.4	64	Aug 2, 2024	J-GAAP
YoY	+0.9%	+0.3%	+0.5%	-12.0%	-9.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	31,698	2,724	2,996	2,044	32.6	8.6	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	30,014	2,425	2,688	1,897	30.4	8.1	May 2, 2024	J-GAAP
Apr - Jun, 2024	33,548	2,616	2,868	3,014	48.4	7.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	32,583	3,034	3,311	2,226	35.9	9.3	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	32,481	2,855	3,135	2,167	34.9	8.8	Jan 31, 2025	J-GAAP
YoY	+2.5%	+4.8%	+4.6%	+6.0%	+7.1%