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CROPS CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 12% Increase

Thu Nov 14, 2024 11:40 am JST Earnings

9428 CROPS CORPORATION 【J-GAAP】

Earnings Report

CROPS CORPORATION <9428> [TSE-S] announced its financial results at noon (11:40) on November 14th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.3% from the same period last year to 1 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 13.4%, from the previous forecast of 2.29 billion yen to 2.59 billion yen (compared to 2.31 billion yen in the previous period), turning to a 12.2% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 44.5% from the same period last year, reaching 1.59 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 631 million yen, a 1.6% decrease compared to the same period last year. The operating profit margin worsened from 4.2% in the same period last year to 3.4%.

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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 22,524 1,227 1,290 632 70.0 53.0 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 25,955 1,074 1,211 601 63.6 52.3 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 29,211 792 1,002 108 11.5 38.6 Nov 14, 2024 J-GAAP
YoY +12.5% -26.3% -17.3% -82.0% -81.9%

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 29,026 565 633 -9 -1.0 0 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 29,211 792 1,002 108 11.5 0 Nov 14, 2024 J-GAAP
Revision Rate +0.6% +40.2% +58.3% － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 61,035 2,159 2,291 916 96.9 20 Aug 9, 2024 J-GAAP
Mar, 2025 New 60,852 2,481 2,599 1,037 109.7 20 Nov 14, 2024 J-GAAP
Revision Rate -0.3% +14.9% +13.4% +13.2% +13.2%

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 28,532 1,053 1,105 605 64.0 20 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 31,641 1,689 1,597 929 98.2 20 Nov 14, 2024 J-GAAP
YoY +10.9% +60.4% +44.5% +53.6% +53.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 48,380 2,272 2,432 1,175 129.1 20 May 12, 2023 J-GAAP
Mar, 2024 54,487 2,127 2,316 1,206 127.5 20 May 14, 2024 J-GAAP
Mar, 2025 Guidance 60,852 2,481 2,599 1,037 109.7 20 Nov 14, 2024 J-GAAP
YoY +11.7% +16.6% +12.2% -14.0% -14.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,361 562 641 371 39.2 4.2 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 14,155 580 671 410 43.4 4.1 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 14,377 473 434 195 20.6 3.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 14,013 269 371 -137 -14.6 1.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 15,198 523 631 245 26.1 3.4 Nov 14, 2024 J-GAAP
YoY +13.7% -6.9% -1.6% -34.0% -33.4%

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