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Ichigo Inc., June-August (2Q) Ordinary Profit Decreases by 30%

Thu Oct 10, 2024 3:00 pm JST Earnings

2337 Ichigo Inc. 【J-GAAP】

Earnings Report

Ichigo Inc. <2337> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) expanded to 5.55 billion yen, an increase of 35.9% compared to the same period last year. However, The progress rate against the 12 billion yen full-year plan was 46.3%, almost the same as the five-year average of 45.3%.

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 September to February period (second half) is expected to grow by 2.3% from the same period last year, reaching 6.44 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 1.83 billion yen, a 29.8% decrease compared to the same period last year. However, the operating profit margin rose from 18.6% in the same period last year to 23.5%.

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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
Mar - Aug, 2022 25,475 5,082 4,166 3,429 7.4 38.4 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 26,496 5,483 4,087 8,503 18.8 39.3 Oct 12, 2023 J-GAAP
Mar - Aug, 2024 36,295 6,855 5,554 5,365 12.2 46.3 Oct 10, 2024 J-GAAP
YoY +37.0% +25.0% +35.9% -36.9% -34.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance ー ー ー ー － 0 Apr 15, 2024 J-GAAP
Mar - Aug, 2024 Results 36,295 6,855 5,554 5,365 12.2 0 Oct 10, 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
Sep - Feb, 2023 56,251 7,477 6,304 3,605 8.0 9 Apr 15, 2024 J-GAAP
Sep - Feb, 2024 Guidance ー 9,145 6,446 8,635 20.2 10 Oct 10, 2024 J-GAAP
YoY － +22.3% +2.3% +139.5% +151.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 68,093 12,492 10,848 9,409 20.5 8 Apr 19, 2023 J-GAAP
Feb, 2024 82,747 12,960 10,391 12,108 26.9 9 Apr 15, 2024 J-GAAP
Feb, 2025 Guidance ー 16,000 12,000 14,000 32.7 10 Apr 15, 2024 J-GAAP
YoY － +23.5% +15.5% +15.6% +21.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 16,344 3,038 2,618 7,048 15.6 18.6 Oct 12, 2023 J-GAAP
Sep - Nov, 2023 11,923 2,444 1,716 1,087 2.4 20.5 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 44,328 5,033 4,588 2,518 5.6 11.4 Apr 15, 2024 J-GAAP
Mar - May, 2024 25,096 4,221 3,716 3,591 8.2 16.8 Jul 11, 2024 J-GAAP
Jun - Aug, 2024 11,199 2,634 1,838 1,774 4.1 23.5 Oct 10, 2024 J-GAAP
YoY -31.5% -13.3% -29.8% -74.8% -74.0%

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