Seino Holdings Co (9076) investor relations material

Executive summary

• H1 revenue, operating profit and ordinary profit reached record highs, with revenue and profit growth across all segments.

• Full-year revenue and net income guidance increased; operating profit guidance was maintained.

Financial highlights

• H1 revenue was ¥420,688m, up 5.6% YoY; gross profit rose 9.3% to ¥51,328m and operating profit rose 12.8% to ¥20,413m.

• Ordinary profit increased 18.7% to ¥21,950m; profit attributable to owners of the parent rose 21.0% to ¥13,019m.

• Operating expenses increased 5.2%, below revenue growth of 5.6%, supporting operating profit growth.

• Comprehensive income was ¥29,968m, including ¥17,709m of gains from valuation differences on available-for-sale securities.

• Operating cash flow was ¥19,284m; investing cash outflow was ¥15,454m.

Outlook and guidance

• FY2027 revenue forecast rose to ¥840,688m, up ¥15,188m versus prior guidance; operating profit forecast remains ¥41,400m.

• Ordinary profit is forecast at ¥42,400m; parent-attributable profit is forecast at ¥35,000m, including expected gains of ~¥12,000m from an affiliated-company share sale.

• FY2027 forecast EPS is ¥213.54; parent-attributable profit forecast is up 48.1% YoY and 27.3% versus prior guidance.

• Transportation forecast assumes STC cargo volume of 100.9% and unit price of 103.4%; lower fuel subsidies from December are expected to be offset by other segments.

• Annual dividend guidance increased ¥2 to ¥106 per share, comprising ¥43 interim and ¥63 year-end; forecast DOE is 4%.