Casa Inc., The Current Fiscal Year Net Income Revised Downward by 66%

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Thu Sep 12, 2024 3:30 pm JST Earnings

7196 Casa Inc. 【J-GAAP】

Earnings Report

Casa Inc. <7196> [TSE-S] announced its financial results after the market closed on September 12th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending January 2025 (February to July) turned into a loss of 479 million yen (compared to a profit of 28 million yen in the same period last year), reversing from the forecast of a 112 million yen to a loss.

Additionally, the full-year consolidated net income has downwardly by 66.5%, from the previous forecast of 552 million yen to 185 million yen (compared to 605 million yen in the previous period), leading to an increase in the profit decline rate from 8.8% to 69.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the August to January period (second half) is expected to grow by 15.1% from the same period last year, reaching 664 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated net income/loss turned to a loss of 243 million yen (compared to a profit of 135 million yen in the same period last year). The operating profit margin drastically worsened from 8.2% in the same period last year to 4.5%.

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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	5,101	325	388	99	10.0	43.4	Sep 8, 2022	J-GAAP
Feb - Jul, 2023	5,516	86	135	28	2.9	14.0	Sep 7, 2023	J-GAAP
Feb - Jul, 2024	6,003	-255	-114	-479	-47.7	ー	Sep 12, 2024	J-GAAP
YoY	+8.8%	－	－	－	－

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	5,947	123	230	112	11.1	0	Mar 6, 2024	J-GAAP
Feb - Jul, 2024 Results	6,003	-255	-114	-479	-47.7	0	Sep 12, 2024	J-GAAP
Revision Rate	+0.9%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	12,081	759	935	552	54.8	30	Mar 6, 2024	J-GAAP
Jan, 2025 New	12,081	759	935	185	18.4	30	Sep 12, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-66.5%	-66.5%

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	5,708	700	830	577	57.6	30	Mar 6, 2024	J-GAAP
Aug - Jan, 2024 Guidance	6,078	1,014	1,049	664	66.0	30	Sep 12, 2024	J-GAAP
YoY	+6.5%	+44.9%	+26.4%	+15.1%	+14.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	10,286	785	895	254	25.6	30	Mar 9, 2023	J-GAAP
Jan, 2024	11,224	786	965	605	60.4	30	Mar 6, 2024	J-GAAP
Jan, 2025 Guidance	12,081	759	935	185	18.4	30	Sep 12, 2024	J-GAAP
YoY	+7.6%	-3.4%	-3.1%	-69.4%	-69.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	2,792	230	257	135	13.8	8.2	Sep 7, 2023	J-GAAP
Aug - Oct, 2023	2,836	363	411	300	30.0	12.8	Dec 7, 2023	J-GAAP
Nov - Jan, 2023	2,872	337	419	277	27.6	11.7	Mar 6, 2024	J-GAAP
Feb - Apr, 2024	2,995	-391	-333	-236	-23.5	-13.1	Jun 14, 2024	J-GAAP
May - Jul, 2024	3,008	136	219	-243	-24.2	4.5	Sep 12, 2024	J-GAAP
YoY	+7.7%	-40.9%	-14.8%	－	－