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Starts Publishing, First Half Ordinary Profit Decreases by 34%

Fri Aug 8, 2025 3:00 pm JST Earnings

7849 Starts Publishing Corporation 【J-GAAP】

Earnings Report

Starts Publishing Corporation <7849> [TSE Std] announced its financial results in the afternoon session on August 8th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending December 2025 (January to June) dropped 33.9% from the same period last year to 0.83 billion yen, fell short of the previous forecast of 1.13 billion yen.

Progress toward the full-year plan of 2.48 billion yen was 33.5%, also falling below the five-year average of 47.4%.

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 July to December period (second half) is expected to expand 39.3% from the same period last year, reaching 1.64 billion yen.

In the most recent three-month period, from April to June (2Q), the ordinary profit dropped to 0.38 billion yen, a 34.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 24.7% in the same period last year to 16.8%.

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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
Jan - Jun, 2023 3,978 1,082 1,158 898 233.9 48.9 Aug 9, 2023 J-GAAP
Jan - Jun, 2024 4,280 1,176 1,258 962 250.7 51.5 Aug 8, 2024 J-GAAP
Jan - Jun, 2025 3,771 749 832 655 170.8 33.5 Aug 8, 2025 J-GAAP
YoY -11.9% -36.3% -33.9% -31.9% -31.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance 4,100 1,070 1,130 810 211.0 40 Feb 13, 2025 J-GAAP
Jan - Jun, 2025 Results 3,771 749 832 655 170.8 40 Aug 8, 2025 J-GAAP
Revision Rate -8.0% -30.0% -26.4% -19.1% -19.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 4,301 1,162 1,183 864 225.1 80 Feb 13, 2025 J-GAAP
Jul - Dec, 2025 Guidance 5,129 1,651 1,648 1,075 280.0 80 Aug 8, 2025 J-GAAP
YoY +19.3% +42.1% +39.3% +24.4% +24.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 8,341 2,273 2,367 1,777 463.1 60 Feb 13, 2024 J-GAAP
Dec, 2024 8,581 2,338 2,441 1,826 475.7 110 Feb 13, 2025 J-GAAP
Dec, 2025 Guidance 8,900 2,400 2,480 1,730 450.6 120 Feb 13, 2025 J-GAAP
YoY +3.7% +2.7% +1.6% -5.3% -5.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 2,062 509 587 480 125.1 24.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 2,021 483 488 334 87.0 23.9 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 2,280 679 695 530 138.1 29.8 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 1,936 441 447 349 91.1 22.8 May 13, 2025 J-GAAP
Apr - Jun, 2025 1,835 308 385 306 79.8 16.8 Aug 8, 2025 J-GAAP
YoY -11.0% -39.5% -34.4% -36.3% -36.2%

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