LAND Co.,Ltd., First Half Ordinary Profit Turns to Profit, June-Augus Ordinary Profit Increases by 109 times

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Thu Oct 10, 2024 3:00 pm JST Earnings

8918 LAND Co.,Ltd. 【J-GAAP】

Earnings Report

LAND Co.,Ltd. <8918> [TSE-S] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a profit of 821 million yen (compared to a loss of 49 million yen in the same period last year). The progress rate against the 1 billion yen full-year plan was 82.1%, almost the same as the five-year average of 83.8%.

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 drop by 40.7% from the same period last year to 179 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit surged to 109 times that of the same period last year, reaching 982 million yen. The operating profit/loss margin drastically improved from -3.4% in the same period last year to 31.5%.

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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	1,273	803	826	814	0.6	60.9	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	533	-90	-49	-54	0.0	ー	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	3,229	828	821	617	0.4	82.1	Oct 10, 2024	J-GAAP
YoY	+505.8%	－	－	－	－

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	ー	ー	ー	ー	－	0	Apr 11, 2024	J-GAAP
Mar - Aug, 2024 Results	3,229	828	821	617	0.4	0	Oct 10, 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
Sep - Feb, 2023	1,568	320	302	294	0.2	0.10	Apr 11, 2024	J-GAAP
Sep - Feb, 2024 Guidance	2,571	172	179	283	0.2	－	Oct 10, 2024	J-GAAP
YoY	+64.0%	-46.3%	-40.7%	-3.7%	-9.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	4,102	1,293	1,357	1,276	0.9	0.10	Apr 13, 2023	J-GAAP
Feb, 2024	2,101	230	253	240	0.2	0.10	Apr 11, 2024	J-GAAP
Feb, 2025 Guidance	5,800	1,000	1,000	900	0.6	－	Apr 11, 2024	J-GAAP
YoY	+176.1%	+334.8%	+295.3%	+275.0%	+247.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	208	-7	9	4	0.0	-3.4	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	194	-45	-68	-73	-0.1	-23.2	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	1,374	365	370	367	0.3	26.6	Apr 11, 2024	J-GAAP
Mar - May, 2024	112	-154	-161	-162	-0.1	-137.5	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	3,117	982	982	779	0.5	31.5	Oct 10, 2024	J-GAAP
YoY	+1,398.6%	－	+10,811.1%	+19,375.0%	－