Joyfull, First Half Ordinary Profit Unexpectedly Revised Upward by 15%

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Mon Feb 10, 2025 5:00 pm JST Earnings

9942 Joyfull Co.,Ltd. 【J-GAAP】

Earnings Report

Joyfull Co.,Ltd. <9942> [FSE] announced its financial results after the market closed on February 10th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending June 2025 (July to December) increased 15.0% from the same period last year, reaching 2.54 billion yen, resulting in an increase in profits compared to the previous forecast of a 21.8% decrease.

The progress rate toward the full-year plan of 2.97 billion yen was 85.6%, also surpassing the five-year average of 57.6%.

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 January to June period (2H) is expected to significant drop 74.8% from the same period last year to 0.42 billion yen.

In the most recent three-month period, from October to December (2Q), the consolidated ordinary profit significantly dropped to 0.41 billion yen, a 54.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.5% in the same period last year to 2.3%.

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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
Jul - Dec, 2022	28,658	592	657	590	19.1	36.1	Feb 13, 2023	J-GAAP
Jul - Dec, 2023	33,926	2,217	2,211	2,081	67.4	56.5	Feb 13, 2024	J-GAAP
Jul - Dec, 2024	35,557	2,530	2,542	2,075	67.2	85.6	Feb 10, 2025	J-GAAP
YoY	+4.8%	+14.1%	+15.0%	-0.3%	-0.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Guidance	34,520	1,750	1,730	1,620	52.4	5	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 Results	35,557	2,530	2,542	2,075	67.2	5	Feb 10, 2025	J-GAAP
Revision Rate	+3.0%	+44.6%	+46.9%	+28.1%	+28.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	32,031	1,719	1,699	1,238	40.1	5	Aug 13, 2024	J-GAAP
Jan - Jun, 2025 Guidance	31,333	480	428	695	22.5	5	Feb 10, 2025	J-GAAP
YoY	-2.2%	-72.1%	-74.8%	-43.9%	-43.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2023	59,097	1,733	1,822	1,610	52.2	5	Aug 14, 2023	J-GAAP
Jun, 2024	65,957	3,936	3,910	3,319	107.5	10	Aug 13, 2024	J-GAAP
Jun, 2025 Guidance	66,890	3,010	2,970	2,770	89.6	10	Aug 13, 2024	J-GAAP
YoY	+1.4%	-23.5%	-24.0%	-16.5%	-16.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	16,616	913	920	810	26.2	5.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	15,749	1,196	1,182	1,198	38.8	7.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	16,282	523	517	40	1.3	3.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	18,434	2,129	2,126	1,817	58.8	11.5	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	17,123	401	416	258	8.4	2.3	Feb 10, 2025	J-GAAP
YoY	+3.1%	-56.1%	-54.8%	-68.1%	-68.2%