Mobile Factory, Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 4%

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Fri Oct 25, 2024 1:00 pm JST Earnings

3912 Mobile Factory, Inc. 【J-GAAP】

Earnings Report

Mobile Factory, Inc. <3912> [TSE-S] announced its financial results in the afternoon session on October 25th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 3.4% from the same period last year, reaching 702 million yen.

However, the full-year consolidated ordinary profit has downwardly by 4.3%, from the previous forecast of 1.05 billion yen to 1 billion yen (compared to 940 million yen in the previous period), leading to a reduction in the profit growth rate from 12.1% to 7.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 7.9%, from the previous forecast of 569 million yen to 524 million yen (compared to 463 million yen in the same period of the previous year), leading to a reduction in the profit growth rate from 22.9% to 13.2%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 7.4% from the same period last year, reaching 217 million yen. The operating profit margin rose from 24.1% in the same period last year to 29.5%.

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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
Jan - Sep, 2022	2,226	557	557	369	45.9	64.4	Oct 21, 2022	J-GAAP
Jan - Sep, 2023	2,444	684	679	443	56.7	72.2	Oct 24, 2023	J-GAAP
Jan - Sep, 2024	2,350	704	702	474	62.5	69.6	Oct 25, 2024	J-GAAP
YoY	-3.8%	+2.9%	+3.4%	+7.0%	+10.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	1,955	573	569	375	49.7	37	Jul 26, 2024	J-GAAP
Jul - Dec, 2024 New	1,661	524	524	363	48.1	37	Oct 25, 2024	J-GAAP
Revision Rate	-15.0%	-8.6%	-7.9%	-3.2%	-3.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	3,570	1,060	1,054	703	93.2	37	Jul 26, 2024	J-GAAP
Dec, 2024 New	3,276	1,011	1,009	691	91.6	37	Oct 25, 2024	J-GAAP
Revision Rate	-8.2%	-4.6%	-4.3%	-1.7%	-1.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	1,760	462	463	-328	-0.1	8	Jan 30, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,661	524	524	363	48.1	37	Oct 25, 2024	J-GAAP
YoY	-5.6%	+13.4%	+13.2%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	3,144	864	865	558	69.7	0	Jan 27, 2023	J-GAAP
Dec, 2023	3,370	945	940	0	-0.1	8	Jan 30, 2024	J-GAAP
Dec, 2024 Guidance	3,276	1,011	1,009	691	91.6	37	Oct 25, 2024	J-GAAP
YoY	-2.8%	+7.0%	+7.3%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	834	201	202	115	14.7	24.1	Oct 24, 2023	J-GAAP
Oct - Dec, 2023	926	261	261	-443	-56.9	28.2	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	700	172	171	113	14.7	24.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	915	315	314	215	28.2	34.4	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	735	217	217	146	19.3	29.5	Oct 25, 2024	J-GAAP
YoY	-11.9%	+8.0%	+7.4%	+27.0%	+30.7%