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System D Inc., Third Quarter Cumulative (November-July) Ordinary Profit Decreases by 11%, 3Q (May-July) Ordinary Profit Decreases by 80%

Tue Sep 17, 2024 3:00 pm JST Earnings

3804 System D Inc. 【J-GAAP】

Earnings Report

System D Inc. <3804> [TSE-S] announced its financial results after the market closed on September 17th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) decreased by 10.7% from the same period last year to 519 million yen. This progress accounts for 55.3% of the full-year plan of 938 million yen, also falling below the five-year average of 65.3%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to October period (4Q) is expected to grow by 25.4% from the same period last year, reaching 419 million yen.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit significantly dropped to 6 million yen, a 80.0% decrease compared to the same period last year. The operating profit margin worsened from 3.3% in the same period last year to 0.8%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Nov - Jul, 2021 3,104 674 676 437 68.4 75.2 Sep 12, 2022 J-GAAP
Nov - Jul, 2022 3,315 580 581 389 60.8 63.5 Sep 11, 2023 J-GAAP
Nov - Jul, 2023 3,278 519 519 344 53.8 55.3 Sep 17, 2024 J-GAAP
YoY -1.1% -10.5% -10.7% -11.6% -11.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May - Oct, 2023 2,308 362 364 256 40.0 23 Dec 11, 2023 J-GAAP
May - Oct, 2024 Guidance 2,500 428 425 291 45.4 24 Jun 10, 2024 J-GAAP
YoY +8.3% +18.2% +16.8% +13.7% +13.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct, 2022 4,232 897 899 591 92.4 20 Dec 12, 2022 J-GAAP
Oct, 2023 4,736 913 915 632 98.8 23 Dec 11, 2023 J-GAAP
Oct, 2024 Guidance 4,886 940 938 633 98.8 24 Dec 11, 2023 J-GAAP
YoY +3.2% +3.0% +2.5% +0.2% -0.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2023 887 29 30 13 2.0 3.3 Sep 11, 2023 J-GAAP
Aug - Oct, 2023 1,421 333 334 243 38.0 23.4 Dec 11, 2023 J-GAAP
Nov - Jan, 2023 921 114 115 68 10.8 12.4 Mar 18, 2024 J-GAAP
Feb - Apr, 2024 1,465 398 398 274 42.9 27.2 Jun 10, 2024 J-GAAP
May - Jul, 2024 892 7 6 2 0.3 0.8 Sep 17, 2024 J-GAAP
YoY +0.6% -75.9% -80.0% -84.6% -84.7%

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