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RETAIL PARTNERS CO., LTD., First Half Ordinary Profit Revised Downward to an Unexpected 2%Decrease

Tue Oct 15, 2024 3:00 pm JST Earnings

8167 RETAIL PARTNERS CO., LTD. 【J-GAAP】

Earnings Report

RETAIL PARTNERS CO., LTD. <8167> [TSE-P] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was 3.76 billion yen, a 2.5% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 11.4% increase.

The progress rate against the 8.2 billion yen full-year plan was 45.9%, also falling below the five-year average of 50.1%.

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 September to February period (second half) is expected to grow by 14.7% from the same period last year, reaching 4.43 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 1.79 billion yen, a 3.8% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.5% in the same period last year to 2.3%.

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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
Mar - Aug, 2022 117,271 2,240 2,694 1,707 39.0 43.6 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 124,825 3,377 3,859 2,518 58.6 50.0 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 132,833 3,122 3,764 2,410 56.2 45.9 Oct 15, 2024 J-GAAP
YoY +6.4% -7.6% -2.5% -4.3% -4.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance 131,300 3,600 4,300 2,700 62.9 14 Apr 15, 2024 J-GAAP
Mar - Aug, 2024 Results 132,833 3,122 3,764 2,410 56.2 14 Oct 15, 2024 J-GAAP
Revision Rate +1.2% -13.3% -12.5% -10.7% -10.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 127,336 3,363 3,866 2,199 51.2 16 Apr 15, 2024 J-GAAP
Sep - Feb, 2024 Guidance 128,967 3,978 4,436 2,790 65.0 14 Oct 15, 2024 J-GAAP
YoY +1.3% +18.3% +14.7% +26.9% +26.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 234,793 5,283 6,181 2,917 66.8 22 Apr 13, 2023 J-GAAP
Feb, 2024 252,161 6,740 7,725 4,717 109.9 28 Apr 15, 2024 J-GAAP
Feb, 2025 Guidance 261,800 7,100 8,200 5,200 121.1 28 Apr 15, 2024 J-GAAP
YoY +3.8% +5.3% +6.1% +10.2% +10.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 64,283 1,589 1,864 1,248 29.1 2.5 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 62,948 1,434 1,649 1,070 24.9 2.3 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 64,388 1,929 2,217 1,129 26.3 3.0 Apr 15, 2024 J-GAAP
Mar - May, 2024 65,076 1,597 1,970 1,271 29.6 2.5 Jul 16, 2024 J-GAAP
Jun - Aug, 2024 67,757 1,525 1,794 1,139 26.6 2.3 Oct 15, 2024 J-GAAP
YoY +5.4% -4.0% -3.8% -8.7% -8.6%

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