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Poppins Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 2%

Fri Nov 8, 2024 3:30 pm JST Earnings

7358 Poppins Corporation 【J-GAAP】

Earnings Report

Poppins Corporation <7358> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.7 times that of the same period last year, reaching 1.24 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 2.2%, from the previous forecast of 1.36 billion yen to 1.39 billion yen (compared to 1.3 billion yen in the previous period), increasing the growth rate from 4.5% to 6.8%. However, the full-year consolidated net income has downwardly by 28.4%, from the previous forecast of 880 million yen to 630 million yen (compared to 677 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 6.9% decrease in profit.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has been revised upward by 4.9%, from the previous forecast of 617 million yen to 647 million yen (compared to 1.14 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 46.0% to 43.4%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 64.4% from the same period last year, reaching 498 million yen. The operating profit margin improved from 4.3% in the same period last year to 6.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 19,305 757 804 533 55.1 59.2 Nov 8, 2022 J-GAAP
Jan - Sep, 2023 21,094 456 461 280 28.9 35.4 Nov 8, 2023 J-GAAP
Jan - Sep, 2024 23,515 1,221 1,241 550 56.6 89.3 Nov 8, 2024 J-GAAP
YoY +11.5% +167.8% +169.2% +96.4% +95.5%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 15,177 640 617 414 42.5 40 Aug 8, 2024 J-GAAP
Jul - Dec, 2024 New 15,777 670 647 164 16.8 40 Nov 8, 2024 J-GAAP
Revision Rate +4.0% +4.7% +4.9% -60.4% -60.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 30,900 1,350 1,360 880 90.4 40 Feb 14, 2024 J-GAAP
Dec, 2024 New 31,500 1,380 1,390 630 64.7 40 Nov 8, 2024 J-GAAP
Revision Rate +1.9% +2.2% +2.2% -28.4% -28.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 15,031 1,014 1,143 583 60.2 40 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 15,777 670 647 164 16.8 40 Nov 8, 2024 J-GAAP
YoY +5.0% -33.9% -43.4% -71.9% -72.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 26,258 1,305 1,357 824 85.1 40 Feb 14, 2023 J-GAAP
Dec, 2023 28,893 1,162 1,301 677 69.9 40 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 31,500 1,380 1,390 630 64.7 40 Nov 8, 2024 J-GAAP
YoY +9.0% +18.8% +6.8% -6.9% -7.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,232 308 303 186 19.2 4.3 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 7,799 706 840 397 41.0 9.1 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 7,860 442 436 268 27.6 5.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 7,863 268 307 198 20.4 3.4 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 7,792 511 498 84 8.6 6.6 Nov 8, 2024 J-GAAP
YoY +7.7% +65.9% +64.4% -54.8% -55.0%

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