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Fuyo General Lease Co., Ltd., July-September (2Q) Ordinary Profit Decreases by 7%

Fri Nov 8, 2024 2:00 pm JST Earnings

8424 Fuyo General Lease Co., Ltd. 【J-GAAP】

Earnings Report

Fuyo General Lease Co., Ltd. <8424> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 3.5% from the same period last year, reaching 34.2 billion yen. The progress rate against the 66 billion yen full-year plan was 51.9%, almost the same as the five-year average of 50.0%.

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 October to March period (second half) is expected to decrease by 10.0% from the same period last year to 31.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 17.9 billion yen, a 6.9% decrease compared to the same period last year. However, the operating profit margin improved from 8.0% in the same period last year to 10.2%.

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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 356,063 27,017 31,137 20,304 225.9 52.2 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 350,393 27,709 33,132 23,006 255.3 48.5 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 331,984 32,315 34,285 22,812 252.7 51.9 Nov 8, 2024 J-GAAP
YoY -5.3% +16.6% +3.5% -0.8% -1.0%

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 ー ー ー ー － 75 May 8, 2024 J-GAAP
Apr - Sep, 2024 Results 331,984 32,315 34,285 22,812 252.7 75 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 358,145 32,337 35,223 24,213 268.6 81.67 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー 27,685 31,715 22,188 246.0 75 Nov 8, 2024 J-GAAP
YoY － -14.4% -10.0% -8.4% -8.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 688,655 51,561 59,699 38,939 433.1 114.33 May 10, 2023 J-GAAP
Mar, 2024 708,538 60,046 68,355 47,219 523.8 146.67 May 8, 2024 J-GAAP
Mar, 2025 Guidance ー 60,000 66,000 45,000 498.9 150 May 8, 2024 J-GAAP
YoY － -0.1% -3.4% -4.7% -4.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 193,210 15,466 19,293 13,659 151.6 8.0 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 170,196 19,970 21,559 16,849 186.9 11.7 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 187,949 12,367 13,664 7,364 81.7 6.6 May 8, 2024 J-GAAP
Apr - Jun, 2024 161,347 14,949 16,325 9,952 110.3 9.3 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 170,637 17,366 17,960 12,860 142.5 10.2 Nov 8, 2024 J-GAAP
YoY -11.7% +12.3% -6.9% -5.8% -6.0%

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