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HIGASHI TWENTY ONE CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 3%Decrease

Fri Oct 25, 2024 3:15 pm JST Earnings

9029 HIGASHI HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

HIGASHI TWENTY ONE CO.,LTD. <9029> [TSE-S] announced its financial results after the market closed on October 25th (15:15). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.2% from the same period last year to 1.16 billion yen, resulting in a decrease in profits compared to the previous forecast of a 4.5% increase.

The progress rate against the 2.6 billion yen full-year plan was 44.9%, also falling below the five-year average of 50.8%.

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 October to March period (second half) is expected to grow by 29.9% from the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 5.1% from the same period last year, reaching 600 million yen. However, the operating profit margin worsened from 5.6% in the same period last year to 5.2%.

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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 16,300 894 964 612 46.8 47.6 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 19,530 1,131 1,206 742 56.5 52.2 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 21,976 1,104 1,167 689 52.2 44.9 Oct 25, 2024 J-GAAP
YoY +12.5% -2.4% -3.2% -7.1% -7.5%

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 20,580 1,220 1,260 790 59.7 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 21,976 1,104 1,167 689 52.2 0 Oct 25, 2024 J-GAAP
Revision Rate +6.8% -9.5% -7.4% -12.8% -12.5%

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 21,105 1,059 1,103 764 58.1 36 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 20,524 1,346 1,433 951 73.0 38 Oct 25, 2024 J-GAAP
YoY -2.8% +27.1% +29.9% +24.5% +25.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 34,807 1,908 2,026 1,268 96.8 30 May 12, 2023 J-GAAP
Mar, 2024 40,635 2,190 2,309 1,506 114.5 36 May 10, 2024 J-GAAP
Mar, 2025 Guidance 42,500 2,450 2,600 1,640 125.9 38 May 10, 2024 J-GAAP
YoY +4.6% +11.9% +12.6% +8.9% +10.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,698 543 571 372 28.3 5.6 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 10,007 554 579 385 29.3 5.5 Jan 26, 2024 J-GAAP
Jan - Mar, 2024 11,098 505 524 379 28.8 4.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 11,040 536 567 302 23.0 4.9 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 10,936 568 600 387 29.3 5.2 Oct 25, 2024 J-GAAP
YoY +12.8% +4.6% +5.1% +4.0% +3.6%

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