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Yoshicon Co.,Ltd, First Half Ordinary Profit Revised Downward to an Unexpected 51%Decrease

Thu Oct 31, 2024 3:30 pm JST Earnings

5280 Yoshicon Co.,Ltd 【J-GAAP】

Earnings Report

Yoshicon Co.,Ltd <5280> [TSE-S] announced its financial results after the market closed on October 31st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.7% from the same period last year to 249 million yen, resulting in a decrease in profits compared to the previous forecast of a 167.3% increase.

The progress rate against the 3.8 billion yen full-year plan was 6.6%, also falling below the five-year average of 45.9%.

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 27.6% from the same period last year, reaching 3.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.5% from the same period last year, reaching 539 million yen. However, the operating profit margin significantly dropped from 17.0% in the same period last year to 11.2%.

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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 7,953 811 921 591 82.4 53.7 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 6,972 398 505 321 45.2 15.4 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 7,930 198 249 131 18.5 6.6 Oct 31, 2024 J-GAAP
YoY +13.7% -50.3% -50.7% -59.2% -59.0%

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 10,000 1,300 1,350 850 119.5 0 May 2, 2024 J-GAAP
Apr - Sep, 2024 Results 7,930 198 249 131 18.5 0 Oct 31, 2024 J-GAAP
Revision Rate -20.7% -84.8% -81.6% -84.6% -84.5%

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 16,941 2,646 2,784 1,781 250.7 55 May 2, 2024 J-GAAP
Oct - Mar, 2024 Guidance 21,070 3,502 3,551 2,369 337.3 58 Oct 31, 2024 J-GAAP
YoY +24.4% +32.4% +27.6% +33.0% +34.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 14,704 1,414 1,714 1,166 162.9 50 Apr 28, 2023 J-GAAP
Mar, 2024 23,913 3,044 3,289 2,102 295.9 55 May 2, 2024 J-GAAP
Mar, 2025 Guidance 29,000 3,700 3,800 2,500 356.0 58 May 2, 2024 J-GAAP
YoY +21.3% +21.6% +15.5% +18.9% +20.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,241 382 497 321 45.2 17.0 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 1,677 -81 -28 -31 -4.4 -4.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 15,264 2,727 2,812 1,812 255.1 17.9 May 2, 2024 J-GAAP
Apr - Jun, 2024 3,613 -286 -290 -209 -29.5 -7.9 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 4,317 484 539 340 48.1 11.2 Oct 31, 2024 J-GAAP
YoY +92.6% +26.7% +8.5% +5.9% +6.4%

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