Chuo Seisakusho, Ltd., July-September (2Q) Ordinary Profit Decreases by 84%

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Thu Nov 14, 2024 2:40 pm JST Earnings

6846 Chuo Seisakusho, Ltd. 【J-GAAP】

Earnings Report

Chuo Seisakusho, Ltd. <6846> [NSE-M] announced its financial results in the afternoon session on November 14th (14:40). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.0 times that of the same period last year, reaching 51 million yen. The progress rate against the 300 million yen full-year plan was 17.0%, exceeding the same period of the previous year of 11.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to expand by 97.6% from the same period last year, reaching 249 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 11 million yen, a 83.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.3% in the same period last year to 1.3%.

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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	1,690	-177	-165	-159	-206.7	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	1,916	16	17	8	10.9	11.9	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	1,934	46	51	78	101.8	17.0	Nov 14, 2024	J-GAAP
YoY	+0.9%	+187.5%	+200.0%	+875.0%	+833.7%

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	1,800	50	50	35	45.3	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	1,934	46	51	78	101.8	0	Nov 14, 2024	J-GAAP
Revision Rate	+7.4%	-8.0%	+2.0%	+122.9%	+124.7%

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	1,988	120	126	173	224.6	35	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,866	254	249	132	170.8	42	Nov 14, 2024	J-GAAP
YoY	+44.2%	+111.7%	+97.6%	-23.7%	-23.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,125	-303	-278	-261	-338.4	0	May 15, 2023	J-GAAP
Mar, 2024	3,904	136	143	181	235.0	35	May 15, 2024	J-GAAP
Mar, 2025 Guidance	4,800	300	300	210	271.8	42	May 15, 2024	J-GAAP
YoY	+23.0%	+120.6%	+109.8%	+16.0%	+15.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,281	68	67	54	73.6	5.3	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	629	-59	-55	-56	-73.0	-9.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,359	179	181	229	297.3	13.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,003	34	40	24	32.2	3.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	931	12	11	54	70.5	1.3	Nov 14, 2024	J-GAAP
YoY	-27.3%	-82.4%	-83.6%	0.0%	-4.2%