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Net One Systems Co.,Ltd., First Half Ordinary Profit Increases by 42%, Second Half Dividend Postponed

Wed Nov 6, 2024 4:30 pm JST Earnings

7518 Net One Systems Co.,Ltd. 【J-GAAP】

Earnings Report

Net One Systems Co.,Ltd. <7518> [TSE-P] announced its financial results after the market closed on November 6th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 8.81 billion yen, an increase of 42.1% compared to the same period last year. The progress rate against the 20.8 billion yen full-year plan was 42.4%, exceeding the five-year average of 35.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 7.4% from the same period last year to 11.9 billion yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the the second half of 43 yen for the current fiscal year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 9.0% from the same period last year, reaching 5.11 billion yen. The operating profit margin remained almost flat, changing from 9.3% in the same period last year to 9.3%.

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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 92,765 8,319 8,683 5,175 63.0 42.0 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 93,114 6,344 6,200 4,210 51.3 32.4 Nov 1, 2023 J-GAAP
Apr - Sep, 2024 100,657 8,960 8,812 6,402 80.7 42.4 Nov 6, 2024 J-GAAP
YoY +8.1% +41.2% +42.1% +52.1% +57.2%

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 100,500 8,900 8,800 6,400 80.7 43 Oct 30, 2024 J-GAAP
Apr - Sep, 2024 Results 100,657 8,960 8,812 6,402 80.7 43 Nov 6, 2024 J-GAAP
Revision Rate +0.2% +0.7% +0.1% +0.0% +0.1%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 220,000 21,000 20,800 14,400 181.5 86 May 8, 2024 J-GAAP
Mar, 2025 New 220,000 21,000 20,800 14,400 181.5 43 Nov 6, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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 112,013 13,189 12,951 9,510 117.7 40 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 119,343 12,040 11,988 7,998 100.8 0 Nov 6, 2024 J-GAAP
YoY +6.5% -8.7% -7.4% -15.9% -14.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 209,680 20,635 20,660 14,458 176.0 74 May 9, 2023 J-GAAP
Mar, 2024 205,127 19,533 19,151 13,720 169.8 77 May 8, 2024 J-GAAP
Mar, 2025 Guidance 220,000 21,000 20,800 14,400 181.5 43 Nov 6, 2024 J-GAAP
YoY +7.3% +7.5% +8.6% +5.0% +6.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 50,526 4,679 4,698 3,196 39.0 9.3 Nov 1, 2023 J-GAAP
Oct - Dec, 2023 49,899 5,751 5,436 3,727 45.9 11.5 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 62,114 7,438 7,515 5,783 71.6 12.0 May 8, 2024 J-GAAP
Apr - Jun, 2024 45,624 3,828 3,693 2,569 32.4 8.4 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 55,033 5,132 5,119 3,833 48.3 9.3 Nov 6, 2024 J-GAAP
YoY +8.9% +9.7% +9.0% +19.9% +24.0%

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