Japan Exchange Group, Inc., The Current Fiscal Year Net Income Revised Upward by 1%

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Tue Oct 29, 2024 12:00 pm JST Earnings

8697 Japan Exchange Group, Inc. 【IFRS】

Earnings Report

Japan Exchange Group, Inc. <8697> [TSE-P] announced its financial results (based on IFRS) at noon (12:00) on October 29th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 32.3 billion yen, a 2.8% increase compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward by 0.9%, from the previous forecast of 57.5 billion yen to 58 billion yen (compared to 60.8 billion yen in the previous period), and the declining rate is expected to decrease from 5.5% to 4.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 12.6% from the same period last year to 25.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 20.8% from the same period last year, reaching 16.5 billion yen. The operating profit margin rose from 53.4% in the same period last year to 58.9%.

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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	66,486	34,127	34,122	23,189	22.0	50.0	Oct 27, 2022	IFRS
Apr - Sep, 2023	73,385	44,499	44,506	31,432	30.2	50.9	Oct 26, 2023	IFRS
Apr - Sep, 2024	81,810	47,718	47,726	32,308	31.1	55.5	Oct 29, 2024	IFRS
YoY	+11.5%	+7.2%	+7.2%	+2.8%	+2.8%

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	ー	ー	ー	ー	－	16.50	Sep 24, 2024	IFRS
Apr - Sep, 2024 Results	81,810	47,718	47,726	32,308	31.1	16.50	Oct 29, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	158,500	85,000	85,000	57,500	55.3	33.50	Sep 24, 2024	IFRS
Mar, 2025 New	159,000	86,000	86,000	58,000	55.8	33.50	Oct 29, 2024	IFRS
Revision Rate	+0.3%	+1.2%	+1.2%	+0.9%	+0.9%

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	79,486	42,945	42,898	29,390	28.2	30	Apr 30, 2024	IFRS
Oct - Mar, 2024 Guidance	77,190	38,282	38,274	25,692	24.7	17	Oct 29, 2024	IFRS
YoY	-2.9%	-10.9%	-10.8%	-12.6%	-12.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	133,991	68,253	68,207	46,342	44.0	31.50	Apr 27, 2023	IFRS
Mar, 2024	152,871	87,444	87,404	60,822	58.5	45.50	Apr 30, 2024	IFRS
Mar, 2025 Guidance	159,000	86,000	86,000	58,000	55.8	33.50	Oct 29, 2024	IFRS
YoY	+4.0%	-1.7%	-1.6%	-4.6%	-4.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	36,432	19,461	19,438	13,696	13.2	53.4	Oct 26, 2023	IFRS
Oct - Dec, 2023	38,254	21,543	21,518	15,159	14.6	56.3	Jan 29, 2024	IFRS
Jan - Mar, 2024	41,232	21,402	21,380	14,231	13.7	51.9	Apr 30, 2024	IFRS
Apr - Jun, 2024	40,328	23,291	23,293	15,768	15.2	57.8	Jul 30, 2024	IFRS
Jul - Sep, 2024	41,482	24,427	24,433	16,540	15.9	58.9	Oct 29, 2024	IFRS
YoY	+13.9%	+25.5%	+25.7%	+20.8%	+20.8%