Stream Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 54%

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Mon Sep 9, 2024 3:00 pm JST Earnings

3071 Stream Co.,Ltd. 【J-GAAP】

Earnings Report

Stream Co.,Ltd. <3071> [TSE-S] announced its financial results after the market closed on September 9th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) increased by 12.8% from the same period last year, reaching 53 million yen.

However, the full-year consolidated ordinary profit has downwardly by 54.5%, from the previous forecast of 538 million yen to 245 million yen (compared to 162 million yen in the previous period), leading to a reduction in the profit decline rate from 3.3 times to 51.2%..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to expand by 67.0% from the same period last year, reaching 192 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit grew by 6.5% from the same period last year, reaching 49 million yen. However, the operating profit margin remained almost flat, changing from 0.8% in the same period last year to 0.7%.

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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	15,559	153	142	109	4.0	38.8	Sep 8, 2022	J-GAAP
Feb - Jul, 2023	13,325	52	47	22	0.8	29.0	Sep 8, 2023	J-GAAP
Feb - Jul, 2024	14,947	57	53	34	1.3	21.6	Sep 9, 2024	J-GAAP
YoY	+12.2%	+9.6%	+12.8%	+54.5%	+48.8%

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	ー	ー	ー	ー	－	0	Mar 14, 2024	J-GAAP
Feb - Jul, 2024 Results	14,947	57	53	34	1.3	0	Sep 9, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	31,649	562	538	362	13.1	3	Mar 14, 2024	J-GAAP
Jan, 2025 New	30,312	266	245	154	5.6	3	Sep 9, 2024	J-GAAP
Revision Rate	-4.2%	-52.7%	-54.5%	-57.5%	-57.5%

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	14,125	130	115	8	0.3	3	Mar 14, 2024	J-GAAP
Aug - Jan, 2024 Guidance	15,365	209	192	120	4.3	3	Sep 9, 2024	J-GAAP
YoY	+8.8%	+60.8%	+67.0%	+1,400.0%	+1,396.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	30,212	382	366	218	8.0	3	Mar 14, 2023	J-GAAP
Jan, 2024	27,450	182	162	30	1.1	3	Mar 14, 2024	J-GAAP
Jan, 2025 Guidance	30,312	266	245	154	5.6	3	Sep 9, 2024	J-GAAP
YoY	+10.4%	+46.2%	+51.2%	+413.3%	+406.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	6,532	50	46	31	1.2	0.8	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	6,445	16	2	-6	-0.2	0.2	Dec 8, 2023	J-GAAP
Nov - Jan, 2023	7,680	114	113	14	0.5	1.5	Mar 14, 2024	J-GAAP
Feb - Apr, 2024	7,221	6	4	2	0.1	0.1	Jun 10, 2024	J-GAAP
May - Jul, 2024	7,726	51	49	32	1.2	0.7	Sep 9, 2024	J-GAAP
YoY	+18.3%	+2.0%	+6.5%	+3.2%	0.0%