Japan Investment Adviser Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 8%

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Thu Oct 31, 2024 3:00 pm JST Earnings

7172 Japan Investment Adviser Co.,Ltd. 【J-GAAP】

Earnings Report

Japan Investment Adviser Co.,Ltd. <7172> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 4.88 billion yen, an increase of 55.6% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 8.3%, from the previous forecast of 10.9 billion yen to 10 billion yen (compared to 3.66 billion yen in the previous period), leading to a reduction in the profit growth rate from 3.0 times to 2.7 times.

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 35.1%, from the previous forecast of 2.56 billion yen to 1.66 billion yen (compared to 1.05 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 2.4 times to 57.5%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 3.44 billion yen (compared to a profit of 532 million yen in the same period last year). However, the operating profit margin drastically improved from 6.2% in the same period last year to 45.2%.

Kabutan News

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	15,500	1,775	7,660	5,784	118.8	129.9	Oct 31, 2022	J-GAAP
Jan - Sep, 2023	14,833	3,566	3,143	2,231	45.8	85.7	Oct 31, 2023	J-GAAP
Jan - Sep, 2024	21,117	8,947	4,889	3,220	53.3	48.9	Oct 31, 2024	J-GAAP
YoY	+42.4%	+150.9%	+55.6%	+44.3%	+16.2%

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	13,925	4,329	2,565	1,399	23.1	12	Jul 31, 2024	J-GAAP
Jul - Dec, 2024 New	13,925	5,829	1,665	799	13.2	12	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	+34.7%	-35.1%	-42.9%	-42.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	28,900	10,500	10,900	7,100	117.4	24	Jul 17, 2024	J-GAAP
Dec, 2024 New	28,900	12,000	10,000	6,500	107.5	24	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	+14.3%	-8.3%	-8.5%	-8.5%

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	12,880	2,292	1,057	663	13.6	9.93	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	13,925	5,829	1,665	799	13.2	12	Oct 31, 2024	J-GAAP
YoY	+8.1%	+154.3%	+57.5%	+20.5%	-3.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	18,045	1,298	5,897	4,412	90.6	19.85	Feb 10, 2023	J-GAAP
Dec, 2023	21,818	5,492	3,668	2,359	48.5	19.85	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	28,900	12,000	10,000	6,500	107.5	24	Oct 31, 2024	J-GAAP
YoY	+32.5%	+118.5%	+172.6%	+175.5%	+121.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,895	366	532	535	11.0	6.2	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	6,985	1,926	525	128	2.6	27.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,016	4,811	5,670	4,083	67.5	53.4	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	5,959	1,360	2,665	1,618	26.8	22.8	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	6,142	2,776	-3,446	-2,481	-41.0	45.2	Oct 31, 2024	J-GAAP
YoY	+4.2%	+658.5%	－	－	－