VIS co. ltd., First Half Ordinary Profit Increases by 87%

Wed Nov 13, 2024 4:00 pm JST Earnings

5071 VIS co. ltd. 【J-GAAP】

Earnings Report

VIS co. ltd. <5071> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 970 million yen, an increase of 87.3% compared to the same period last year, exceeded the previous forecast of 549 million yen.

The progress rate against the 1.54 billion yen full-year plan was 62.9%, also surpassing the five-year average of 36.0%.

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 drop by 42.2% from the same period last year to 572 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.1 times that of the same period last year, reaching 553 million yen. The operating profit margin significantly improved from 8.1% in the same period last year to 12.8%.

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Actual Performance and Financial Trends

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	6,867M	661M	653M	436M	53.2	51.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	6,400M	526M	518M	328M	40.0	34.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	7,972M	976M	970M	640M	77.3	62.9	Nov 13, 2024	J-GAAP
YoY	+24.6%	+85.6%	+87.3%	+95.1%	+93.4%

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	6,846M	558M	549M	350M	42.2	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	7,972M	976M	970M	640M	77.3	0	Nov 13, 2024	J-GAAP
Revision Rate	+16.4%	+74.9%	+76.7%	+82.9%	+83.1%

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	7,999M	997M	989M	663M	80.6	36	May 15, 2024	J-GAAP
Guidance Oct - Mar, 2024	7,055M	583M	572M	348M	41.7	36	Nov 13, 2024	J-GAAP
YoY	-11.8%	-41.5%	-42.2%	-47.5%	-48.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,219M	1,279M	1,263M	856M	104.3	21	May 12, 2023	J-GAAP
Mar, 2024	14,399M	1,523M	1,507M	991M	120.4	36	May 15, 2024	J-GAAP
Guidance Mar, 2025	15,027M	1,559M	1,542M	988M	118.3	36	May 15, 2024	J-GAAP
YoY	+4.4%	+2.4%	+2.3%	-0.3%	-1.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,355M	273M	268M	169M	20.6	8.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,513M	376M	371M	234M	28.5	10.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	4,486M	621M	618M	429M	52.1	13.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,642M	420M	417M	277M	33.5	11.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,330M	556M	553M	363M	43.8	12.8	Nov 13, 2024	J-GAAP
YoY	+29.1%	+103.7%	+106.3%	+114.8%	+112.9%