Netyear Group Corporation, The Current Fiscal Year Net Income Revised Downward by 44%

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Thu Oct 31, 2024 3:00 pm JST Earnings

3622 Netyear Group Corporation 【J-GAAP】

Earnings Report

Netyear Group Corporation <3622> [TSE-G] announced its financial results after the market closed on October 31st (15:00). The net loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 132 million yen (compared to a loss of 27 million yen in the same period last year).

In addition, the full-year net income has downwardly by 43.9%, from the previous forecast of 205 million yen to 115 million yen (compared to 106 million yen in the previous period), leading to a reduction in the profit growth rate from 93.4% to 8.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to expand by 85.7% from the same period last year, reaching 247 million yen.

In the most recent three-month period, from July to September (2Q), the net income/loss turned to a loss of 83 million yen (compared to a profit of 11 million yen in the same period last year). The operating profit margin worsened from 2.0% in the same period last year to 1.4%.

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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	1,826	70	70	48	7.0	25.0	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	1,704	-36	-36	-27	-3.9	ー	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	1,502	-59	-59	-132	-19.0	ー	Oct 31, 2024	J-GAAP
YoY	-11.9%	-63.9%	-63.9%	-388.9%	-388.9%

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	－	0	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	1,502	-59	-59	-132	-19.0	0	Oct 31, 2024	J-GAAP
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	4,100	300	299	205	29.3	6	Apr 30, 2024	J-GAAP
Mar, 2025 New	4,100	300	299	115	16.4	6	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-43.9%	-43.9%

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	1,926	180	180	133	19.0	6	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,598	359	358	247	35.3	6	Oct 31, 2024	J-GAAP
YoY	+34.9%	+99.4%	+98.9%	+85.7%	+85.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,919	281	280	200	28.6	5.75	Apr 28, 2023	J-GAAP
Mar, 2024	3,630	144	144	106	15.2	6	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	4,100	300	299	115	16.4	6	Oct 31, 2024	J-GAAP
YoY	+12.9%	+108.3%	+107.6%	+8.5%	+8.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	891	18	18	11	1.6	2.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	870	2	1	1	0.2	0.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	1,056	178	179	132	18.9	16.9	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	739	-70	-70	-49	-7.1	-9.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	763	11	11	-83	-11.9	1.4	Oct 31, 2024	J-GAAP
YoY	-14.4%	-38.9%	-38.9%	－	－