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SEYFERT LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 87% Decrease

Thu Nov 14, 2024 3:30 pm JST Earnings

9213 SEYFERT LTD. 【J-GAAP】

Earnings Report

SEYFERT LTD. <9213> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 78.2% from the same period last year to 27 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 88.6%, from the previous forecast of 201 million yen to 23 million yen (compared to 174 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 86.8% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised downward from an expected profit of 114 million yen to a loss of 64 million yen (compared to a profit of 46 million yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss expanded to a loss of 60 million yen (compared to a loss of 4 million yen in the same period last year). The operating profit/loss margin drastically worsened from -0.4% in the same period last year to -12.7%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 1,655 169 156 103 81.2 71.6 Nov 14, 2022 J-GAAP
Jan - Sep, 2023 1,613 124 124 87 65.9 71.3 Nov 13, 2023 J-GAAP
Jan - Sep, 2024 1,592 24 27 17 13.2 117.4 Nov 14, 2024 J-GAAP
YoY -1.3% -80.6% -78.2% -80.5% -80.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 1,129 123 114 78 59.1 32 Aug 14, 2024 J-GAAP
Jul - Dec, 2024 New 967 -59 -64 -46 -34.8 32 Nov 14, 2024 J-GAAP
Revision Rate -14.3% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 2,279 203 201 139 105.2 42 Feb 14, 2024 J-GAAP
Dec, 2024 New 2,117 21 23 15 11.4 42 Nov 14, 2024 J-GAAP
Revision Rate -7.1% -89.7% -88.6% -89.2% -89.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 1,024 48 46 34 25.8 32 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 967 -59 -64 -46 -34.8 32 Nov 14, 2024 J-GAAP
YoY -5.6% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 2,241 234 218 149 116.6 45 Feb 14, 2023 J-GAAP
Dec, 2023 2,166 174 174 123 93.3 42 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 2,117 21 23 15 11.4 42 Nov 14, 2024 J-GAAP
YoY -2.3% -87.9% -86.8% -87.8% -87.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 471 -2 -4 -2 -1.5 -0.4 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 553 50 50 36 27.3 9.0 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 437 -36 -34 -23 -17.5 -8.2 May 15, 2024 J-GAAP
Apr - Jun, 2024 713 116 121 84 64.6 16.3 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 442 -56 -60 -44 -34.2 -12.7 Nov 14, 2024 J-GAAP
YoY -6.2% -2,700.0% -1,400.0% -2,100.0% -2,147.4%

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