ACCESS CO., LTD., First Half Ordinary Profit Loss Narrows

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Fri Aug 30, 2024 3:00 pm JST Earnings

4813 ACCESS CO., LTD. 【J-GAAP】

Earnings Report

ACCESS CO., LTD. <4813> [TSE-P] announced its financial results after the market closed on August 30th (15:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending January 2025 (February to July) was a reduced loss of 321 million yen (compared to a loss of 1.03 billion yen in the same period last year), a reduction in the deficit from the previous forecast of a loss of 450 million yen.

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 August to January period (second half) is expected to decrease by 24.5% from the same period last year to 771 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit/loss turned to a profit of 425 million yen (compared to a loss of 1.4 billion yen in the same period last year). The operating profit/loss margin drastically improved from -52.5% in the same period last year to 5.2%.

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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
Feb - Jul, 2022	5,139	-2,016	-1,692	-1,743	-44.7	ー	Aug 31, 2022	J-GAAP
Feb - Jul, 2023	6,738	-1,125	-1,033	-1,087	-29.0	ー	Aug 31, 2023	J-GAAP
Feb - Jul, 2024	8,059	-982	-652	-789	-21.0	ー	Aug 30, 2024	J-GAAP
YoY	+19.6%	+12.7%	+36.9%	+27.4%	+27.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	8,000	-800	-450	-550	-14.6	－	Jul 31, 2024	J-GAAP
Feb - Jul, 2024 Results	8,059	-982	-652	-789	-21.0	0	Aug 30, 2024	J-GAAP
Revision Rate	+0.7%	-22.8%	-44.9%	-43.5%	-44.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	9,835	1,020	1,021	807	21.5	0	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	10,441	1,482	1,102	999	26.5	0	Aug 30, 2024	J-GAAP
YoY	+6.2%	+45.3%	+7.9%	+23.8%	+23.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	13,060	-1,707	-1,337	-2,684	-69.9	0	Mar 13, 2023	J-GAAP
Jan, 2024	16,573	-105	-12	-280	-7.5	0	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	18,500	500	450	210	5.6	0	Mar 15, 2024	J-GAAP
YoY	+11.6%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	2,822	-1,481	-1,409	-1,447	-38.6	-52.5	Aug 31, 2023	J-GAAP
Aug - Oct, 2023	4,033	-443	-374	-406	-10.8	-11.0	Nov 29, 2023	J-GAAP
Nov - Jan, 2023	5,802	1,463	1,395	1,213	32.3	25.2	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	3,458	-888	-746	-787	-20.9	-25.7	May 31, 2024	J-GAAP
May - Jul, 2024	4,601	-94	94	-2	-0.1	-2.0	Aug 30, 2024	J-GAAP
YoY	+63.0%	+93.7%	－	+99.9%	+99.9%