F.C.C.CO.,LTD., First Half Net Income Increases by 29%, Current Fiscal Year Dividend Revised Upward by 126 yen

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Fri Nov 1, 2024 3:00 pm JST Earnings

7296 F.C.C.CO.,LTD. 【IFRS】

Earnings Report

F.C.C.CO.,LTD. <7296> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 1st (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 28.8% from the same period last year, reaching 7.7 billion yen, exceeded the previous forecast of 6 billion yen.

However, The progress rate against the 12.4 billion yen full-year plan was 62.1%, below the five-year average of 65.6%.

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 24.9% from the same period last year to 4.69 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 76 yen to 202 yen (compared to 74 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 3.1 billion yen, an increase of 0.9% compared to the same period last year. The operating profit margin improved from 5.7% in the same period last year to 8.0%.

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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	107,148	4,236	5,723	3,374	67.9	42.0	Nov 4, 2022	IFRS
Apr - Sep, 2023	116,960	6,453	8,980	5,977	120.2	46.8	Nov 2, 2023	IFRS
Apr - Sep, 2024	127,323	10,025	10,252	7,701	156.1	60.3	Nov 1, 2024	IFRS
YoY	+8.9%	+55.4%	+14.2%	+28.8%	+29.9%

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	119,000	7,800	8,600	6,000	122.0	38	May 10, 2024	IFRS
Apr - Sep, 2024 Results	127,323	10,025	10,252	7,701	156.1	101	Nov 1, 2024	IFRS
Revision Rate	+7.0%	+28.5%	+19.2%	+28.3%	+27.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	238,000	16,000	17,800	12,400	256.5	76	May 10, 2024	IFRS
Mar, 2025 New	243,000	16,000	17,000	12,400	256.5	202	Nov 1, 2024	IFRS
Revision Rate	+2.1%	0.0%	-4.5%	0.0%	0.0%

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	123,323	8,649	10,189	6,254	125.7	44	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	115,677	5,975	6,748	4,699	97.2	101	Nov 1, 2024	IFRS
YoY	-6.2%	-30.9%	-33.8%	-24.9%	-22.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	218,939	11,903	13,641	9,566	192.4	56	May 12, 2023	IFRS
Mar, 2024	240,283	15,102	19,169	12,231	245.9	74	May 10, 2024	IFRS
Mar, 2025 Guidance	243,000	16,000	17,000	12,400	256.5	202	Nov 1, 2024	IFRS
YoY	+1.1%	+5.9%	-11.3%	+1.4%	+4.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	60,520	3,445	4,476	3,077	61.9	5.7	Nov 2, 2023	IFRS
Oct - Dec, 2023	60,548	5,491	5,756	4,457	89.6	9.1	Feb 2, 2024	IFRS
Jan - Mar, 2024	62,775	3,158	4,433	1,797	36.1	5.0	May 10, 2024	IFRS
Apr - Jun, 2024	64,129	4,942	6,629	4,595	92.8	7.7	Aug 2, 2024	IFRS
Jul - Sep, 2024	63,194	5,083	3,623	3,106	63.0	8.0	Nov 1, 2024	IFRS
YoY	+4.4%	+47.5%	-19.1%	+0.9%	+1.7%