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IZUMI CO.,LTD., First Half Ordinary Profit Decreases by 22%, June-Augus Ordinary Profit Decreases by 16%

Tue Oct 15, 2024 3:00 pm JST Earnings

8273 IZUMI CO.,LTD. 【J-GAAP】

Earnings Report

IZUMI CO.,LTD. <8273> [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) decreased by 21.9% from the same period last year to 12.3 billion yen. The progress rate against the 26.3 billion yen full-year plan was 47.0%, almost the same as the five-year average of 46.5%.

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 decrease by 15.5% from the same period last year to 13.9 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 6.28 billion yen, a 16.1% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 4.8%.

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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
Mar - Aug, 2022 224,061 15,694 15,907 10,634 148.8 46.2 Oct 11, 2022 J-GAAP
Mar - Aug, 2023 233,320 15,518 15,812 10,460 146.3 48.9 Oct 10, 2023 J-GAAP
Mar - Aug, 2024 238,670 12,074 12,392 8,211 114.8 47.1 Oct 15, 2024 J-GAAP
YoY +2.3% -22.2% -21.6% -21.5% -21.5%

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 238,300 11,700 11,900 7,300 102.0 45 Aug 28, 2024 J-GAAP
Mar - Aug, 2024 Results 238,670 12,074 12,392 8,211 114.8 45 Oct 15, 2024 J-GAAP
Revision Rate +0.2% +3.2% +4.1% +12.5% +12.5%

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 237,846 15,907 16,510 10,025 140.2 45 Jun 27, 2024 J-GAAP
Sep - Feb, 2024 Guidance 288,630 14,426 13,908 6,189 86.5 45 Oct 15, 2024 J-GAAP
YoY +21.4% -9.3% -15.8% -38.3% -38.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 460,140 33,644 34,396 23,188 324.4 87 Apr 11, 2023 J-GAAP
Feb, 2024 471,166 31,425 32,322 20,485 286.5 89 Jun 27, 2024 J-GAAP
Feb, 2025 Guidance 527,300 26,500 26,300 14,400 201.3 90 Aug 28, 2024 J-GAAP
YoY +11.9% -15.7% -18.6% -29.7% -29.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 119,006 7,368 7,488 4,931 69.0 6.2 Oct 10, 2023 J-GAAP
Sep - Nov, 2023 111,499 6,318 6,513 4,065 56.9 5.7 Jan 9, 2024 J-GAAP
Dec - Feb, 2023 126,347 9,589 9,997 5,960 83.4 7.6 Jun 27, 2024 J-GAAP
Mar - May, 2024 108,784 5,811 6,063 3,933 55.0 5.3 Aug 28, 2024 J-GAAP
Jun - Aug, 2024 129,886 6,263 6,329 4,278 59.8 4.8 Oct 15, 2024 J-GAAP
YoY +9.1% -15.0% -15.5% -13.2% -13.3%

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