itamiarts inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 25% Decrease

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Fri Sep 13, 2024 3:00 pm JST Earnings

168A itamiarts inc.

Earnings Report

itamiarts inc. <168A> [TSE-G] announced its financial results after the market closed on September 13th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) dropped by 37.8% from the same period last year to 74 million yen, resulting in a decrease in profits compared to the previous forecast of a 25.2% increase.

In addition, the full-year ordinary profit has downwardly by 31.3%, from the previous forecast of 240 million yen to 165 million yen (compared to 221 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.3% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to decrease by 10.8% from the same period last year to 91 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary profit increased by 37.8% from the same period last year, reaching 62 million yen. The operating profit margin improved from 4.6% in the same period last year to 6.4%.

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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, 2024	1,807	92	74	51	39.0	44.8	Sep 13, 2024	J-GAAP
YoY	－	－	－	－	－

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	1,761	155	149	104	70.8	0	Apr 8, 2024	J-GAAP
Feb - Jul, 2024 Results	1,807	92	74	51	39.0	0	Sep 13, 2024	J-GAAP
Revision Rate	+2.6%	-40.6%	-50.3%	-51.0%	-44.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	3,509	244	240	167	113.6	20	Apr 8, 2024	J-GAAP
Jan, 2025 New	3,554	180	165	114	77.6	20	Sep 13, 2024	J-GAAP
Revision Rate	+1.3%	-26.2%	-31.3%	-31.7%	-31.7%

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	1,562	93	102	68	64.8	0	Apr 8, 2024	J-GAAP
Aug - Jan, 2024 Guidance	1,747	88	91	63	42.9	20	Sep 13, 2024	J-GAAP
YoY	+11.8%	-5.4%	-10.8%	-7.4%	-33.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2024	3,112	192	221	153	145.9	0	Apr 8, 2024	J-GAAP
Jan, 2025 Guidance	3,554	180	165	114	77.6	20	Sep 13, 2024	J-GAAP
YoY	+14.2%	-6.3%	-25.3%	-25.5%	-46.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Nov - Jan, 2023	710	3	6	5	4.8	0.4	Apr 8, 2024	J-GAAP
Feb - Apr, 2024	819	29	12	8	6.9	3.5	Jun 14, 2024	J-GAAP
May - Jul, 2024	988	63	62	43	32.9	6.4	Sep 13, 2024	J-GAAP
YoY	－	－	－	－	－