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OPEN Group, Inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 1% Decrease, The Undetermined Dividend Set at 3 yen, Resuming The Undetermined Dividends for the First Time in Ten Terms

Tue Oct 15, 2024 4:00 pm JST Earnings

6572 OPEN Group, Inc. 【J-GAAP】

Earnings Report

OPEN Group, Inc. <6572> [TSE-P] announced its financial results after the market closed on October 15th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) dropped by break even (compared to a 49 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has downwardly by 54.4%, from the previous forecast of 570 million yen to 260 million yen (compared to 263 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 1.1% decrease in profit..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 21.5% from the same period last year, reaching 260 million yen.

At the same time, the company has decided to implement a year-end lump-sum dividend of 3 yen for the current fiscal year, which was previously undecided, reinstating dividends for the first time in ten terms.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss expanded to a loss of 44 million yen (compared to a loss of 38 million yen in the same period last year). However, the operating profit margin improved from 6.1% in the same period last year to 6.8%.

Kabutan News

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 2,899 43 -8 -93 -1.5 ー Oct 14, 2022 J-GAAP
Mar - Aug, 2023 2,913 190 49 304 5.0 18.6 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 3,466 279 0 251 4.1 0.0 Oct 15, 2024 J-GAAP
YoY +19.0% +46.8% － -17.4% -17.7%

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 3,440 230 189 130 2.1 － Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 3,466 279 0 251 4.1 0 Oct 15, 2024 J-GAAP
Revision Rate +0.8% +21.3% － +93.1% +93.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2025 Prev 7,200 650 570 360 5.9 － Apr 12, 2024 J-GAAP
Feb, 2025 New 7,200 650 260 360 5.9 3 Oct 15, 2024 J-GAAP
Revision Rate 0.0% 0.0% -54.4% 0.0% 0.0%

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 3,252 330 214 -138 -2.3 0 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 3,734 371 260 109 1.8 3 Oct 15, 2024 J-GAAP
YoY +14.8% +12.4% +21.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 5,957 305 80 64 1.1 0 Apr 14, 2023 J-GAAP
Feb, 2024 6,165 520 263 166 2.7 0 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 7,200 650 260 360 5.9 3 Oct 15, 2024 J-GAAP
YoY +16.8% +25.0% -1.1% +116.9% +115.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 1,465 90 -38 -80 -1.3 6.1 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 1,569 151 74 -14 -0.2 9.6 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 1,683 179 140 -124 -2.1 10.6 Apr 12, 2024 J-GAAP
Mar - May, 2024 1,783 164 44 20 0.3 9.2 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 1,683 115 -44 231 3.8 6.8 Oct 15, 2024 J-GAAP
YoY +14.9% +27.8% -15.8% － －

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