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FP Partner Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 8%

Tue Oct 15, 2024 3:00 pm JST Earnings

7388 FP Partner Inc. 【J-GAAP】

Earnings Report

FP Partner Inc. <7388> [TSE-P] announced its financial results after the market closed on October 15th (15:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) was 4.65 billion yen, a 0.8% decrease compared to the same period last year.

In addition, the full-year ordinary profit has downwardly by 7.7%, from the previous forecast of 6.68 billion yen to 6.17 billion yen (compared to 5.6 billion yen in the previous period), leading to a reduction in the profit growth rate from 19.3% to 10.0%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the ordinary profit for the June to November period (second half) has downwardly by 13.1%, from the previous forecast of 3.93 billion yen to 3.42 billion yen (compared to 2.83 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 39.1% to 20.8%.

In the most recent three-month period, from June to August (3Q), the ordinary profit amounted to 1.9 billion yen, a 0.5% decrease compared to the same period last year. The operating profit margin decreased from 22.6% in the same period last year to 17.8%.

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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 18,739 3,265 3,270 1,962 98.1 85.8 Oct 14, 2022 J-GAAP
Dec - Aug, 2022 22,914 4,579 4,689 3,160 137.4 83.6 Oct 11, 2023 J-GAAP
Dec - Aug, 2023 26,982 4,438 4,653 3,126 135.6 75.4 Oct 15, 2024 J-GAAP
YoY +17.8% -3.1% -0.8% -1.1% -1.3%

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 18,487 4,038 3,937 2,697 118.6 47 Jul 16, 2024 J-GAAP
Jun - Nov, 2024 New 18,487 3,322 3,420 2,292 100.8 47 Oct 15, 2024 J-GAAP
Revision Rate 0.0% -17.7% -13.1% -15.0% -15.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2024 Prev 35,627 6,725 6,688 4,548 199.9 92 Apr 15, 2024 J-GAAP
Nov, 2024 New 35,627 6,009 6,171 4,143 182.1 92 Oct 15, 2024 J-GAAP
Revision Rate 0.0% -10.6% -7.7% -8.9% -8.9%

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 15,983 2,860 2,831 2,244 97.5 90 Jan 15, 2024 J-GAAP
Jun - Nov, 2024 Guidance 18,487 3,322 3,420 2,292 100.8 47 Oct 15, 2024 J-GAAP
YoY +15.7% +16.2% +20.8% +2.1% +3.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2022 25,605 3,824 3,813 2,366 115.0 0 Jan 13, 2023 J-GAAP
Nov, 2023 30,559 5,554 5,608 3,953 171.7 90 Jan 15, 2024 J-GAAP
Nov, 2024 Guidance 35,627 6,009 6,171 4,143 182.1 92 Oct 15, 2024 J-GAAP
YoY +16.6% +8.2% +10.0% +4.8% +6.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 8,338 1,885 1,912 1,451 63.1 22.6 Oct 11, 2023 J-GAAP
Sep - Nov, 2023 7,645 975 919 793 34.5 12.8 Jan 15, 2024 J-GAAP
Dec - Feb, 2023 8,332 1,362 1,394 938 40.6 16.3 Apr 15, 2024 J-GAAP
Mar - May, 2024 8,808 1,325 1,357 913 39.5 15.0 Jul 16, 2024 J-GAAP
Jun - Aug, 2024 9,842 1,751 1,902 1,275 55.3 17.8 Oct 15, 2024 J-GAAP
YoY +18.0% -7.1% -0.5% -12.1% -12.3%

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