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Forval RealStraight Inc., First Half Ordinary Profit Decreases by 23%, July-September Ordinary Profit Decreases by 70%

Thu Nov 14, 2024 11:30 am JST Earnings

9423 Forval RealStraight Inc. 【J-GAAP】

Earnings Report

Forval RealStraight Inc. <9423> [TSE-S] announced its financial results at noon (11:30) on November 14th. The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.9% from the same period last year to 91 million yen. The progress rate against the 190 million yen full-year plan was 47.9%, also falling below the five-year average of 52.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to expand by 90.4% from the same period last year, reaching 99 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 21 million yen, a 70.4% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.4% in the same period last year to 2.6%.

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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 1,336 66 66 37 1.6 42.3 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 1,605 118 118 77 3.2 69.4 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 1,759 91 91 54 2.2 47.9 Nov 14, 2024 J-GAAP
YoY +9.6% -22.9% -22.9% -29.9% -30.7%

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 － 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 1,759 91 91 54 2.2 0 Nov 14, 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 1,461 51 52 53 2.2 2.40 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance ー 99 99 66 2.7 2.60 Nov 14, 2024 J-GAAP
YoY － +94.1% +90.4% +24.5% +23.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,975 156 156 112 4.7 2.20 May 12, 2023 J-GAAP
Mar, 2024 3,066 169 170 130 5.4 2.40 May 13, 2024 J-GAAP
Mar, 2025 Guidance ー 190 190 120 5.0 2.60 May 13, 2024 J-GAAP
YoY － +12.4% +11.8% -7.7% -8.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 845 71 71 46 1.9 8.4 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 709 32 33 30 1.3 4.5 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 752 19 19 23 1.0 2.5 May 13, 2024 J-GAAP
Apr - Jun, 2024 948 70 70 41 1.7 7.4 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 811 21 21 13 0.5 2.6 Nov 14, 2024 J-GAAP
YoY -4.0% -70.4% -70.4% -71.7% -72.0%

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