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First Brothers Co., Ltd., June-August (3Q) Ordinary Profit Increases by 80%

Tue Oct 8, 2024 6:00 pm JST Earnings

3454 First Brothers Co., Ltd. 【J-GAAP】

Earnings Report

First Brothers Co., Ltd. <3454> [TSE-S] announced its financial results after the market closed on October 8th (18:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) significantly dropped by 74.9% from the same period last year to 735 million yen. The progress rate against the 1.7 billion yen full-year plan was 43.2%, also falling below the five-year average of 62.5%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to November period (4Q) is expected to grow by 5.8% from the same period last year, reaching 965 million yen.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit increased by 79.9% from the same period last year, reaching 358 million yen. The operating profit margin drastically improved from 9.0% in the same period last year to 15.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Dec - Aug, 2021 10,833 1,413 1,024 793 56.6 75.5 Oct 7, 2022 J-GAAP
Dec - Aug, 2022 16,040 3,430 2,925 2,657 189.5 76.2 Oct 6, 2023 J-GAAP
Dec - Aug, 2023 7,909 1,149 735 502 35.8 43.2 Oct 8, 2024 J-GAAP
YoY -50.7% -66.5% -74.9% -81.1% -81.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2023 10,281 1,395 1,111 972 69.3 32 Jan 12, 2024 J-GAAP
Jun - Nov, 2024 Guidance 15,232 1,997 1,323 866 61.8 34 Jul 9, 2024 J-GAAP
YoY +48.2% +43.2% +19.1% -10.9% -10.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2022 14,284 1,816 1,356 1,180 84.2 30 Jan 13, 2023 J-GAAP
Nov, 2023 22,268 4,461 3,837 3,186 227.3 32 Jan 12, 2024 J-GAAP
Nov, 2024 Guidance 19,600 2,600 1,700 1,045 74.5 67 Jan 12, 2024 J-GAAP
YoY -12.0% -41.7% -55.7% -67.2% -67.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 4,053 364 199 443 31.6 9.0 Oct 6, 2023 J-GAAP
Sep - Nov, 2023 6,228 1,031 912 529 37.7 16.6 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 1,955 240 129 63 4.5 12.3 Apr 9, 2024 J-GAAP
Mar - May, 2024 2,413 363 248 116 8.3 15.0 Jul 9, 2024 J-GAAP
Jun - Aug, 2024 3,541 546 358 323 23.0 15.4 Oct 8, 2024 J-GAAP
YoY -12.6% +50.0% +79.9% -27.1% -27.1%

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