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早稲田アカデミー---2Q増収、期末配当金における記念配当の実施を発表

Waseda Academy---Announces increase in 2Q revenue, implementation of special dividends in year-end dividends

Fisco Japan ·  Nov 1, 2024 03:15

Waseda Academy <4718> announced its consolidated financial results for the second quarter of the fiscal year ending March 2025 (April to September 24th year). The revenue increased by 6.2% to 16.972 billion yen compared to the same period last year, operating profit increased by 9.2% to 1.499 billion yen, ordinary profit increased by 6.4% to 1.496 billion yen, and the net income attributable to the parent company's shareholders decreased by 8.9% to 0.914 billion yen.

During the interim consolidated accounting period, in terms of education, Waseda Academy has been making fundamental revisions in exam guidance to further extend the record-breaking passing performance achieved this spring in many prestigious schools. They have also been addressing and strengthening practical skills in response to exam needs by region through the newly established challenging prefectural public high school exam preparation course. The number of students in specific school preparation classes has been steadily increasing. The 'Summer Intensive Training Camp' that significantly contributes to the second quarter's revenue had over 15,000 participants. Particularly for the Summer Camp, in addition to the implementation for 2 grades last year (Grade 4 and Junior High 1), this year Grade 6 (Public Junior High School Advancement Course) and Grade 2 have also joined, expanding the scale of the event. Many students also participated in summer study sessions and camps held by domestic subsidiary companies, not only contributing to revenue but also providing enriched exam guidance for the upcoming spring entrance exams. In terms of campus expansion, Kasai School was relocated and renovated in June 2024, Harumi School was newly opened in July, Takanawa School was relocated and renovated, and the Individual Advancement Institute Gotanda School opened in September. Furthermore, to accommodate the increase in the number of students, expansions were also made at Tamachi School, Musashisakai School, and Kitaurawa School. As part of the efforts towards the key initiatives set in the medium-term management plan, they are progressing smoothly towards the '100 Individual Advancement Institutes by 2027' target, currently at 72 institutes with the new opening in September and the upcoming opening of the Akabane Individual Advancement Institute in October.

The average number of students during the mid-term interim consolidated accounting period was steadily increasing to 47,679 (an increase of 2.3% compared to the same period last year). By department, the numbers were 28,095 in the elementary school section (an increase of 3.2%), 16,843 in the junior high school section (a decrease of 0.3%), 2,575 in the high school section (an increase of 3.7%), and 166 in other sections (a decrease of %). The elementary school section continued to lead in overall enrollment numbers. In terms of expenses, in addition to increasing the salary levels as done last year, there was an increase in personnel expenses, strengthening of advertising and publicity, system development to enhance services through ICT utilization, and investments in relocation and expansion-related facilities.

The consolidated performance forecast for the fiscal year ending March 2025 remains unchanged from the initial plan, with sales of 34.741 billion yen (up 5.7% from the previous year), operating profit of 2.966 billion yen (up 2.7% from the previous year), ordinary profit of 3.003 billion yen (up 1.8% from the previous year), and net income attributable to parent company shareholders of 1.927 billion yen (down 9.6% from the previous year).

As Waseda Academy approaches its 50th anniversary in July 2025, they announced a commemorative dividend of 10.00 yen per share for the fiscal year ending March 2025. This results in a year-end dividend of 40.00 yen per share (ordinary dividend of 30.00 yen, commemorative dividend of 10.00 yen).

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