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SUGIMOTO & CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 4%Decrease

Tue Oct 29, 2024 11:00 am JST Earnings

9932 SUGIMOTO & CO.,LTD. 【J-GAAP】

Earnings Report

SUGIMOTO & CO.,LTD. <9932> [TSE-P] announced its financial results in the morning on October 29th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.3% from the same period last year to 1.14 billion yen, resulting in a decrease in profits compared to the previous forecast of a 0.8% increase.

The progress rate against the 2.88 billion yen full-year plan was 39.7%, almost the same as the five-year average of 41.3%.

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 6.6% from the same period last year, reaching 1.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 4.7% from the same period last year, reaching 664 million yen. However, the operating profit margin remained almost flat, changing from 4.5% in the same period last year to 4.3%.

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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 21,145 777 1,023 836 41.5 38.2 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 22,057 906 1,196 775 38.5 42.4 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 23,175 904 1,144 746 37.6 39.7 Oct 29, 2024 J-GAAP
YoY +5.1% -0.2% -4.3% -3.7% -2.4%

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 23,620 945 1,205 795 40.7 17.50 Apr 25, 2024 J-GAAP
Apr - Sep, 2024 Results 23,175 904 1,144 746 37.6 17.50 Oct 29, 2024 J-GAAP
Revision Rate -1.9% -4.3% -5.1% -6.2% -7.8%

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 24,579 1,375 1,628 1,101 54.7 17.50 Apr 25, 2024 J-GAAP
Oct - Mar, 2024 Guidance 27,025 1,456 1,736 1,154 60.2 20 Oct 29, 2024 J-GAAP
YoY +10.0% +5.9% +6.6% +4.8% +10.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 45,558 2,177 2,679 2,101 104.3 32.50 Apr 26, 2023 J-GAAP
Mar, 2024 46,636 2,281 2,824 1,876 93.1 35 Apr 25, 2024 J-GAAP
Mar, 2025 Guidance 50,200 2,360 2,880 1,900 99.2 37.50 Aug 20, 2024 J-GAAP
YoY +7.6% +3.5% +2.0% +1.3% +6.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 11,216 500 634 415 20.6 4.5 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 13,307 976 1,089 722 35.8 7.3 Jan 29, 2024 J-GAAP
Jan - Mar, 2024 11,272 399 539 379 18.8 3.5 Apr 25, 2024 J-GAAP
Apr - Jun, 2024 10,976 375 480 314 15.7 3.4 Jul 29, 2024 J-GAAP
Jul - Sep, 2024 12,199 529 664 432 21.8 4.3 Oct 29, 2024 J-GAAP
YoY +8.8% +5.8% +4.7% +4.1% +5.5%

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