CORE CORPORATION, July-September (2Q) Ordinary Profit Decreases by 8%

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Mon Oct 28, 2024 3:30 pm JST Earnings

2359 CORE CORPORATION 【J-GAAP】

Earnings Report

CORE CORPORATION <2359> [TSE-P] announced its financial results after the market closed on October 28th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 1.37 billion yen, a 2.4% increase compared to the same period last year. However, The progress rate against the 3.4 billion yen full-year plan was 40.5%, almost the same as the five-year average of 40.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 7.9% from the same period last year, reaching 2.02 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 724 million yen, a 8.5% decrease compared to the same period last year. The operating profit margin decreased from 13.7% in the same period last year to 11.9%.

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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	10,724	1,171	1,209	814	57.2	43.0	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	11,199	1,302	1,344	932	65.2	41.8	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	11,797	1,315	1,376	954	66.6	40.5	Oct 28, 2024	J-GAAP
YoY	+5.3%	+1.0%	+2.4%	+2.4%	+2.1%

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	12,000	1,400	1,450	1,000	69.6	10	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	11,797	1,315	1,376	954	66.6	10	Oct 28, 2024	J-GAAP
Revision Rate	-1.7%	-6.1%	-5.1%	-4.6%	-4.3%

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	12,799	1,838	1,875	1,338	93.5	45	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,203	1,985	2,024	1,446	100.6	45	Oct 28, 2024	J-GAAP
YoY	+11.0%	+8.0%	+7.9%	+8.1%	+7.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,848	2,743	2,812	1,968	137.9	40	Apr 27, 2023	J-GAAP
Mar, 2024	23,998	3,140	3,219	2,270	158.6	50	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	26,000	3,300	3,400	2,400	167.0	55	Apr 26, 2024	J-GAAP
YoY	+8.3%	+5.1%	+5.6%	+5.7%	+5.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,752	787	791	555	38.8	13.7	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	6,131	918	931	641	44.8	15.0	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	6,668	920	944	697	48.7	13.8	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	5,788	597	652	456	31.8	10.3	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	6,009	718	724	498	34.8	11.9	Oct 28, 2024	J-GAAP
YoY	+4.5%	-8.8%	-8.5%	-10.3%	-10.5%