NEXTAGE Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 25% Decrease

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Mon Oct 7, 2024 3:00 pm JST Earnings

3186 NEXTAGE Co., Ltd. 【J-GAAP】

Earnings Report

NEXTAGE Co., Ltd. <3186> [TSE-P] announced its financial results after the market closed on October 7th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) dropped by 31.6% from the same period last year to 9.7 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 40.1%, from the previous forecast of 19.7 billion yen to 11.8 billion yen (compared to 15.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.2% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the June to November period (second half) has downwardly by 64.7%, from the previous forecast of 12.2 billion yen to 4.3 billion yen (compared to 7.98 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 46.1% decrease in profit.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit significantly dropped to 2.21 billion yen, a 65.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.4% in the same period last year to 1.8%.

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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
Dec - Aug, 2021	289,330	14,756	14,556	10,333	131.6	76.3	Oct 3, 2022	J-GAAP
Dec - Aug, 2022	349,223	14,439	14,200	10,236	128.5	90.0	Oct 2, 2023	J-GAAP
Dec - Aug, 2023	401,412	10,184	9,707	6,929	86.5	82.3	Oct 7, 2024	J-GAAP
YoY	+14.9%	-29.5%	-31.6%	-32.3%	-32.7%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Prev	280,017	12,239	12,205	8,602	107.2	33	Jul 1, 2024	J-GAAP
Jun - Nov, 2024 New	275,017	4,739	4,305	3,102	38.7	33	Oct 7, 2024	J-GAAP
Revision Rate	-1.8%	-61.3%	-64.7%	-63.9%	-63.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2024 Prev	545,000	20,000	19,700	14,000	174.5	33	Jan 9, 2024	J-GAAP
Nov, 2024 New	540,000	12,500	11,800	8,500	105.9	33	Oct 7, 2024	J-GAAP
Revision Rate	-0.9%	-37.5%	-40.1%	-39.3%	-39.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2023	233,636	8,119	7,982	5,876	73.7	32	Jan 9, 2024	J-GAAP
Jun - Nov, 2024 Guidance	275,017	4,739	4,305	3,102	38.7	33	Oct 7, 2024	J-GAAP
YoY	+17.7%	-41.6%	-46.1%	-47.2%	-47.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2022	418,117	19,448	19,080	13,886	176.3	24	Jan 5, 2023	J-GAAP
Nov, 2023	463,464	16,084	15,773	11,556	145.0	32	Jan 9, 2024	J-GAAP
Nov, 2024 Guidance	540,000	12,500	11,800	8,500	105.9	33	Oct 7, 2024	J-GAAP
YoY	+16.5%	-22.3%	-25.2%	-26.4%	-26.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	119,395	6,474	6,409	4,556	57.2	5.4	Oct 2, 2023	J-GAAP
Sep - Nov, 2023	114,241	1,645	1,573	1,320	16.6	1.4	Jan 9, 2024	J-GAAP
Dec - Feb, 2023	119,457	2,215	2,114	1,458	18.2	1.9	Apr 1, 2024	J-GAAP
Mar - May, 2024	145,526	5,546	5,381	3,940	49.2	3.8	Jul 1, 2024	J-GAAP
Jun - Aug, 2024	136,429	2,423	2,212	1,531	19.1	1.8	Oct 7, 2024	J-GAAP
YoY	+14.3%	-62.6%	-65.5%	-66.4%	-66.6%