CORREC HOLDINGS Inc., June-August (2Q) Ordinary Profit Turns to Profit

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Fri Oct 11, 2024 3:30 pm JST Earnings

6578 CORREC HOLDINGS Inc. 【J-GAAP】

Earnings Report

CORREC HOLDINGS Inc. <6578> [TSE-S] announced its financial results after the market closed on October 11th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a loss of 38 million yen (compared to a profit of 71 million yen in the same period last year).

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 surge by 4.2 times that of the same period last year, reaching 194 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 23 million yen (compared to a loss of 10 million yen in the same period last year). The operating profit/loss margin improved from -1.0% in the same period last year to 1.2%.

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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	2,231	57	56	-16	-2.2	20.7	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	1,846	72	71	40	5.6	60.7	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	2,656	-42	-38	-45	-6.2	ー	Oct 11, 2024	J-GAAP
YoY	+43.9%	－	－	－	－

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 12, 2024	J-GAAP
Mar - Aug, 2024 Results	2,656	-42	-38	-45	-6.2	0	Oct 11, 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	2,092	47	46	48	6.6	7	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	3,609	202	194	169	23.1	8	Oct 11, 2024	J-GAAP
YoY	+72.5%	+329.8%	+321.7%	+252.1%	+247.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	4,118	269	270	201	27.6	0	Apr 13, 2023	J-GAAP
Feb, 2024	3,938	119	117	88	12.2	7	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	6,265	160	156	124	16.9	8	Apr 12, 2024	J-GAAP
YoY	+59.1%	+34.5%	+33.3%	+40.9%	+39.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	882	-9	-10	-3	-0.4	-1.0	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	948	-17	-17	-1	-0.1	-1.8	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,144	64	63	49	6.8	5.6	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,006	-62	-61	-65	－	-6.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	1,650	20	23	20	2.7	1.2	Oct 11, 2024	J-GAAP
YoY	+87.1%	－	－	－	－