Members Co. ,Ltd., First Half Net Income Loss Narrows

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Thu Oct 31, 2024 3:00 pm JST Earnings

2130 Members Co. ,Ltd. 【IFRS】

Earnings Report

Members Co. ,Ltd. <2130> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (15:00). The consolidated net loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 321 million yen (compared to a loss of 398 million yen in the same period last year), a reduction in the deficit from the previous forecast of a loss of 400 million yen.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 10.1% from the same period last year to 471 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a profit of profit of 16 million yen (compared to a loss of 9 million yen in the same period last year). The operating profit margin remained almost flat, changing from 0.2% in the same period last year to 0.2%.

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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	8,213	288	237	157	11.9	16.9	Oct 31, 2022	IFRS
Apr - Sep, 2023	9,616	-551	-562	-398	-30.4	ー	Oct 31, 2023	IFRS
Apr - Sep, 2024	10,384	-479	-464	-321	-25.2	ー	Oct 31, 2024	IFRS
YoY	+8.0%	+13.1%	+17.4%	+19.3%	+17.0%

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	10,950	-550	-550	-400	-31.3	0	May 10, 2024	IFRS
Apr - Sep, 2024 Results	10,384	-479	-464	-321	-25.2	0	Oct 31, 2024	IFRS
Revision Rate	-5.2%	+12.9%	+15.6%	+19.8%	+19.5%

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	10,851	592	698	524	40.4	31	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	12,846	679	644	471	36.9	32	Oct 31, 2024	IFRS
YoY	+18.4%	+14.7%	-7.7%	-10.1%	-8.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,662	1,441	1,399	1,009	76.2	30	May 10, 2023	IFRS
Mar, 2024	20,467	41	136	126	9.7	31	May 10, 2024	IFRS
Mar, 2025 Guidance	23,230	200	180	150	11.8	32	May 10, 2024	IFRS
YoY	+13.5%	+387.8%	+32.4%	+19.0%	+21.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,118	11	-14	-9	-0.7	0.2	Oct 31, 2023	IFRS
Oct - Dec, 2023	4,968	-18	29	16	1.2	-0.4	Feb 2, 2024	IFRS
Jan - Mar, 2024	5,883	610	669	508	39.2	10.4	May 10, 2024	IFRS
Apr - Jun, 2024	5,035	-492	-486	-337	-26.5	-9.8	Jul 31, 2024	IFRS
Jul - Sep, 2024	5,349	13	22	16	1.3	0.2	Oct 31, 2024	IFRS
YoY	+4.5%	+18.2%	－	－	－