Fundely Co., Ltd., First Half Net Income Turns to Loss

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Thu Oct 31, 2024 3:00 pm JST Earnings

3137 Fundely Co., Ltd. 【J-GAAP】

Earnings Report

Fundely Co., Ltd. <3137> [TSE-G] announced its financial results after the market closed on October 31st (15:00). The net income/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 153 million yen (compared to a profit of 23 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 34 million yen

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to surge by 4.0 times that of the same period last year, reaching 172 million yen.

In the most recent three-month period, from July to September (2Q), the net income/loss turned to a loss of 93 million yen (compared to a profit of 37 million yen in the same period last year). The operating profit/loss margin drastically worsened from 7.2% in the same period last year to -13.8%.

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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	1,397	-17	-41	-41	-6.5	ー	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	1,361	46	24	23	3.8	43.6	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	1,164	-128	-152	-153	-24.2	ー	Oct 31, 2024	J-GAAP
YoY	-14.5%	－	－	－	－

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	1,430	-11	-33	-34	-5.4	0	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	1,164	-128	-152	-153	-24.2	0	Oct 31, 2024	J-GAAP
Revision Rate	-18.6%	-1,063.6%	-360.6%	-350.0%	-350.6%

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	1,285	12	31	43	6.8	0	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,908	190	172	172	27.2	0	Oct 31, 2024	J-GAAP
YoY	+48.5%	+1,483.3%	+454.8%	+300.0%	+297.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,810	-285	-284	-284	-44.8	0	Apr 28, 2023	J-GAAP
Mar, 2024	2,646	58	55	66	10.5	0	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	3,072	62	20	19	3.0	0	Apr 30, 2024	J-GAAP
YoY	+16.1%	+6.9%	-63.6%	-71.2%	-71.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	681	49	38	37	6.1	7.2	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	663	9	-2	-2	-0.3	1.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	622	3	33	45	7.2	0.5	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	584	-48	-59	-60	-9.5	-8.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	580	-80	-93	-93	-14.7	-13.8	Oct 31, 2024	J-GAAP
YoY	-14.8%	－	－	－	－