FUJI OOZX Inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 7% Decrease

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Mon Oct 28, 2024 3:00 pm JST Earnings

7299 FUJI OOZX Inc. 【J-GAAP】

Earnings Report

FUJI OOZX Inc. <7299> [TSE-S] announced its financial results after the market closed on October 28th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 24.5% from the same period last year to 650 million yen, resulting in a decrease in profits compared to the previous forecast of a 8.0% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 24.7%, from the previous forecast of 2.39 billion yen to 1.8 billion yen (compared to 1.92 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 6.6% 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 October to March period (second half) is expected to grow by 7.8% from the same period last year, reaching 1.15 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 76 million yen, a 81.2% decrease compared to the same period last year. However, the operating profit margin improved from 5.5% in the same period last year to 6.0%.

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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
Apr - Sep, 2022	11,153	610	825	582	56.7	78.4	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	11,566	635	861	774	75.4	44.7	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	11,668	792	650	191	18.7	36.1	Oct 28, 2024	J-GAAP
YoY	+0.9%	+24.7%	-24.5%	-75.3%	-75.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	12,400	950	930	550	53.9	20	Jul 26, 2024	J-GAAP
Apr - Sep, 2024 Results	11,668	792	650	191	18.7	20	Oct 28, 2024	J-GAAP
Revision Rate	-5.9%	-16.6%	-30.1%	-65.3%	-65.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	26,500	2,550	2,390	1,580	154.9	50	May 8, 2024	J-GAAP
Mar, 2025 New	25,000	2,000	1,800	950	93.1	50	Oct 28, 2024	J-GAAP
Revision Rate	-5.7%	-21.6%	-24.7%	-39.9%	-39.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	11,816	992	1,067	1,157	112.7	30	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,332	1,208	1,150	759	74.4	30	Oct 28, 2024	J-GAAP
YoY	+12.8%	+21.8%	+7.8%	-34.4%	-34.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,606	869	1,052	595	57.9	26	Apr 27, 2023	J-GAAP
Mar, 2024	23,382	1,627	1,928	1,931	188.1	50	May 8, 2024	J-GAAP
Mar, 2025 Guidance	25,000	2,000	1,800	950	93.1	50	Oct 28, 2024	J-GAAP
YoY	+6.9%	+22.9%	-6.6%	-50.8%	-50.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,022	333	404	382	37.2	5.5	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	5,862	676	605	531	51.7	11.5	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	5,954	316	462	626	61.0	5.3	May 8, 2024	J-GAAP
Apr - Jun, 2024	6,110	456	574	226	22.1	7.5	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	5,558	336	76	-35	-3.4	6.0	Oct 28, 2024	J-GAAP
YoY	-7.7%	+0.9%	-81.2%	－	－