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SHIFT, First Half Ordinary Profit Increases by 63%, Dec-Feb Ordinary Profit Increases by 54%

Thu Apr 10, 2025 3:30 pm JST Earnings

3697 SHIFT Inc. 【J-GAAP】

Earnings Report

SHIFT Inc. <3697> [TSE Prime] announced its financial results after the market closed on April 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending August 2025 (September 2024 to February 2025) expanded 7.86 billion yen, an increase 62.9% compared to the same period last year. The progress rate toward the full-year plan of 13.5 billion yen was 58.3%, also surpassing the five-year average of 47.4%.

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 March to August period (2H) is expected to decrease 4.9% from the same period last year to 5.63 billion yen.

In the most recent three-month period, from December to February (2Q), the consolidated ordinary profit increased 54.5% from the same period last year, reaching 4.55 billion yen. The operating profit margin jumped from 10.5% in the same period last year to 14.4%.

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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
Sep - Feb, 2022 40,343 5,082 5,408 2,185 8.3 45.1 Apr 10, 2023 J-GAAP
Sep - Feb, 2023 52,305 4,683 4,831 2,982 11.3 44.9 Apr 11, 2024 J-GAAP
Sep - Feb, 2024 61,688 8,058 7,868 4,493 17.1 58.3 Apr 10, 2025 J-GAAP
YoY +17.9% +72.1% +62.9% +50.7% +50.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 Guidance ー ー ー ー － 0 Oct 10, 2024 J-GAAP
Sep - Feb, 2024 Results 61,688 8,058 7,868 4,493 17.1 0 Apr 10, 2025 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
Mar - Aug, 2024 58,322 5,854 5,922 2,145 8.1 0 Oct 10, 2024 J-GAAP
Mar - Aug, 2025 Guidance 68,312 5,442 5,632 3,407 12.9 0 Apr 10, 2025 J-GAAP
YoY +17.1% -7.0% -4.9% +58.8% +59.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 88,030 11,565 12,000 6,245 23.6 0 Oct 12, 2023 J-GAAP
Aug, 2024 110,627 10,537 10,753 5,127 19.4 0 Oct 10, 2024 J-GAAP
Aug, 2025 Guidance 130,000 13,500 13,500 7,900 30.0 0 Oct 10, 2024 J-GAAP
YoY +17.5% +28.1% +25.5% +54.1% +54.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Dec - Feb, 2023 27,232 2,870 2,949 1,889 7.2 10.5 Apr 11, 2024 J-GAAP
Mar - May, 2024 28,838 2,372 2,424 333 1.3 8.2 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 29,484 3,482 3,498 1,812 6.9 11.8 Oct 10, 2024 J-GAAP
Sep - Nov, 2024 30,174 3,517 3,313 1,976 7.5 11.7 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 31,514 4,541 4,555 2,517 9.6 14.4 Apr 10, 2025 J-GAAP
YoY +15.7% +58.2% +54.5% +33.2% +33.5%

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