LAPINE CO.,LTD, The Current Fiscal Year Net Income Loss Widened in Downward Revision, 42% Deficit Against Net Assets

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Fri Oct 11, 2024 5:00 pm JST Earnings

8143 LAPINE CO.,LTD 【J-GAAP】

Earnings Report

LAPINE CO.,LTD <8143> [TSE-S] announced its financial results after the market closed on October 11th (17:00). The consolidated net loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was a reduced loss of 27 million yen (compared to a loss of 154 million yen in the same period last year), reversing from the forecast of a 90 million yen to a loss.

In addition, the full-year consolidated net income/loss has been revised downward from an expected loss of 3 million yen to a loss of 390 million yen (compared to a loss of 321 million yen in the previous period), indicating an expansion in the loss margin The deficit amounted to a 42.5% impairment of net assets at the end of the previous fiscal year..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net loss for the September to February period (second half) is expected to expand to a loss of 363 million yen (compared to a loss of 167 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated net loss improved to a deficit of loss of 118 million yen (compared to a loss of 160 million yen in the same period last year). The operating profit/loss margin drastically improved from -35.5% in the same period last year to -27.6%.

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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	1,801	-193	297	292	123.5	110.8	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	1,221	-166	-155	-154	-65.2	ー	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	998	-234	-23	-27	-11.7	ー	Oct 11, 2024	J-GAAP
YoY	-18.3%	-41.0%	+85.2%	+82.5%	+82.0%

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	1,170	-120	93	90	38.1	0	Apr 19, 2024	J-GAAP
Mar - Aug, 2024 Results	998	-234	-23	-27	-11.7	0	Oct 11, 2024	J-GAAP
Revision Rate	-14.7%	-95.0%	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	2,358	-224	6	-3	-1.3	0	Apr 19, 2024	J-GAAP
Feb, 2025 New	1,950	-450	-250	-390	-165.0	0	Oct 11, 2024	J-GAAP
Revision Rate	-17.3%	-100.9%	－	-12,900.0%	-12,889.8%

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	1,121	-176	-159	-167	-70.8	0	Apr 19, 2024	J-GAAP
Sep - Feb, 2024 Guidance	952	-216	-227	-363	-153.6	0	Oct 11, 2024	J-GAAP
YoY	-15.1%	-22.7%	-42.8%	-117.4%	-117.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	3,300	-649	268	158	66.9	0	Apr 19, 2023	J-GAAP
Feb, 2024	2,342	-342	-314	-321	-136.0	0	Apr 19, 2024	J-GAAP
Feb, 2025 Guidance	1,950	-450	-250	-390	-165.0	0	Oct 11, 2024	J-GAAP
YoY	-16.7%	-31.6%	+20.4%	-21.5%	-21.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	490	-174	-164	-160	-67.8	-35.5	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	593	-72	-67	-73	-30.9	-12.1	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	528	-104	-92	-94	-39.8	-19.7	Apr 19, 2024	J-GAAP
Mar - May, 2024	545	-109	93	91	38.6	-20.0	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	453	-125	-116	-118	-51.2	-27.6	Oct 11, 2024	J-GAAP
YoY	-7.6%	+28.2%	+29.3%	+26.3%	+24.5%