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JANOME Corporation, July-September (2Q) Ordinary Profit Decreases by 98%

Fri Nov 8, 2024 3:30 pm JST Earnings

6445 JANOME Corporation 【J-GAAP】

Earnings Report

JANOME Corporation <6445> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 745 million yen, an increase of 90.1% compared to the same period last year. However, The progress rate against the 2.4 billion yen full-year plan was 31.0%, also falling below the five-year average of 38.4%.

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 October to March period (second half) is expected to grow by 20.7% from the same period last year, reaching 1.65 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 10 million yen, a 98.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 4.6% in the same period last year to 4.6%.

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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 19,675 661 1,186 -816 -42.2 49.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 17,542 279 392 31 1.6 22.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 17,981 910 745 776 42.3 31.0 Nov 8, 2024 J-GAAP
YoY +2.5% +226.2% +90.1% +2,403.2% +2,513.6%

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 ー ー ー ー － 15 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 17,981 910 745 776 42.3 15 Nov 8, 2024 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
Oct - Mar, 2023 18,934 1,437 1,371 1,100 58.5 25 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 22,019 1,590 1,655 724 40.5 25 Nov 8, 2024 J-GAAP
YoY +16.3% +10.6% +20.7% -34.2% -30.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 38,571 2,120 2,400 -393 -20.3 25 May 12, 2023 J-GAAP
Mar, 2024 36,476 1,716 1,763 1,131 60.1 25 May 10, 2024 J-GAAP
Mar, 2025 Guidance 40,000 2,500 2,400 1,500 83.9 40 Aug 9, 2024 J-GAAP
YoY +9.7% +45.7% +36.1% +32.6% +39.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,889 459 511 169 8.8 4.6 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 9,334 598 310 133 7.0 6.4 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 9,600 839 1,061 967 51.4 8.7 May 10, 2024 J-GAAP
Apr - Jun, 2024 8,688 481 735 623 34.0 5.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 9,293 429 10 153 8.4 4.6 Nov 8, 2024 J-GAAP
YoY -6.0% -6.5% -98.0% -9.5% -5.4%

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