NEOJAPAN Inc., First Half Ordinary Profit Increases by 38%, 2Q (May-July) Ordinary Profit Increases by 74%

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Wed Sep 11, 2024 3:00 pm JST Earnings

3921 NEOJAPAN Inc. 【J-GAAP】

Earnings Report

NEOJAPAN Inc. <3921> [TSE-P] announced its financial results after the market closed on September 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) expanded to 896 million yen, an increase of 38.5% compared to the same period last year. This progress accounts for 55.3% of the full-year plan of 1.61 billion yen, almost the same as the five-year average of 52.5%.

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 nearly flat of 0.7% from the same period last year to 723 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit increased by 74.0% from the same period last year, reaching 428 million yen. The operating profit margin jumped from 13.2% in the same period last year to 24.5%.

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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	2,936	610	687	463	31.1	51.5	Sep 14, 2022	J-GAAP
Feb - Jul, 2023	3,224	602	647	481	32.4	47.1	Sep 13, 2023	J-GAAP
Feb - Jul, 2024	3,366	847	896	602	42.5	55.3	Sep 11, 2024	J-GAAP
YoY	+4.4%	+40.7%	+38.5%	+25.2%	+31.0%

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	－	14	Jun 14, 2024	J-GAAP
Feb - Jul, 2024 Results	3,366	847	896	602	42.5	14	Sep 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	3,391	694	728	475	32.0	23	Mar 13, 2024	J-GAAP
Aug - Jan, 2024 Guidance	3,671	758	723	496	35.5	14	Sep 11, 2024	J-GAAP
YoY	+8.3%	+9.2%	-0.7%	+4.4%	+10.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	6,007	1,241	1,335	812	54.5	20	Mar 13, 2023	J-GAAP
Jan, 2024	6,615	1,296	1,375	956	64.4	23	Mar 13, 2024	J-GAAP
Jan, 2025 Guidance	7,037	1,605	1,619	1,098	78.5	28	Jun 14, 2024	J-GAAP
YoY	+6.4%	+23.8%	+17.7%	+14.9%	+21.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	1,579	209	246	212	14.3	13.2	Sep 13, 2023	J-GAAP
Aug - Oct, 2023	1,732	481	503	345	23.3	27.8	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	1,659	213	225	130	8.8	12.8	Mar 13, 2024	J-GAAP
Feb - Apr, 2024	1,687	436	468	315	22.0	25.8	Jun 14, 2024	J-GAAP
May - Jul, 2024	1,679	411	428	287	20.3	24.5	Sep 11, 2024	J-GAAP
YoY	+6.3%	+96.7%	+74.0%	+35.4%	+41.8%