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STARTS CORPORATION INC., First Half Ordinary Profit Unexpectedly Revised Upward by 2%

Fri Nov 8, 2024 3:30 pm JST Earnings

8850 STARTS CORPORATION INC. 【J-GAAP】

Earnings Report

STARTS CORPORATION INC. <8850> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 14.8 billion yen, a 1.9% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 12.9% decrease.

The progress rate against the 30.7 billion yen full-year plan was 48.4%, exceeding the five-year average of 43.0%.

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 15.8% from the same period last year to 15.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 6.42 billion yen, a 11.1% decrease compared to the same period last year. However, the operating profit margin rose from 12.2% in the same period last year to 14.3%.

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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
Apr - Sep, 2022 98,598 11,864 14,241 9,586 193.0 47.5 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 104,983 12,662 14,583 9,517 191.6 43.7 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 108,851 15,071 14,857 12,027 242.1 48.4 Nov 8, 2024 J-GAAP
YoY +3.7% +19.0% +1.9% +26.4% +26.4%

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 105,800 12,700 12,700 10,300 207.4 55 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 108,851 15,071 14,857 12,027 242.1 55 Nov 8, 2024 J-GAAP
Revision Rate +2.9% +18.7% +17.0% +16.8% +16.8%

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 128,425 17,836 18,813 12,578 253.2 55 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 119,149 15,629 15,843 10,373 215.3 55 Nov 8, 2024 J-GAAP
YoY -7.2% -12.4% -15.8% -17.5% -15.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 233,871 28,095 30,002 20,218 407.1 93 May 12, 2023 J-GAAP
Mar, 2024 233,408 30,498 33,396 22,095 444.8 105 May 10, 2024 J-GAAP
Mar, 2025 Guidance 228,000 30,700 30,700 22,400 465.0 110 May 10, 2024 J-GAAP
YoY -2.3% +0.7% -8.1% +1.4% +4.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 53,473 6,534 7,223 4,658 93.8 12.2 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 58,500 8,406 7,840 5,052 101.7 14.4 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 69,925 9,430 10,973 7,526 151.5 13.5 May 10, 2024 J-GAAP
Apr - Jun, 2024 54,043 7,240 8,434 7,914 159.3 13.4 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 54,808 7,831 6,423 4,113 82.8 14.3 Nov 8, 2024 J-GAAP
YoY +2.5% +19.9% -11.1% -11.7% -11.7%

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