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I-PEX Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 47%, Second Half Dividend Postponed

Thu Nov 7, 2024 3:30 pm JST Earnings

6640 I-PEX Inc. 【J-GAAP】

Earnings Report

I-PEX Inc. <6640> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 32 times that of the same period last year, reaching 2.05 billion yen.

However, the full-year consolidated ordinary profit has downwardly by 46.8%, from the previous forecast of 4.7 billion yen to 2.5 billion yen (compared to a loss of 555 million yen in the previous period).

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 84.2%, from the previous forecast of 2.61 billion yen to 414 million yen (compared to 462 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 10.4% decrease in profit.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the the second half of 20 yen for the current fiscal year.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 28 million yen (compared to a profit of 1.08 billion yen in the same period last year). However, the operating profit margin remained almost flat, changing from 5.8% in the same period last year to 5.9%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 45,531 2,230 4,149 2,342 126.4 195.7 Nov 10, 2022 J-GAAP
Jan - Sep, 2023 43,128 -609 65 -427 -23.1 ー Nov 9, 2023 J-GAAP
Jan - Sep, 2024 47,361 2,139 2,058 1,030 55.6 82.3 Nov 7, 2024 J-GAAP
YoY +9.8% － +3,066.2% － －

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 32,999 2,619 2,614 1,980 106.7 20 Aug 8, 2024 J-GAAP
Jul - Dec, 2024 New 31,999 1,319 414 -320 -17.3 0 Nov 7, 2024 J-GAAP
Revision Rate -3.0% -49.6% -84.2% － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 64,000 3,800 4,700 3,000 161.7 40 Aug 8, 2024 J-GAAP
Dec, 2024 New 63,000 2,500 2,500 700 37.7 20 Nov 7, 2024 J-GAAP
Revision Rate -1.6% -34.2% -46.8% -76.7% -76.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 31,312 747 462 28 1.5 20 Feb 9, 2024 J-GAAP
Jul - Dec, 2024 Guidance 31,999 1,319 414 -320 -17.3 0 Nov 7, 2024 J-GAAP
YoY +2.2% +76.6% -10.4% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 59,643 978 2,120 168 9.1 40 Feb 10, 2023 J-GAAP
Dec, 2023 59,014 -759 -555 -1,269 -68.4 40 Feb 9, 2024 J-GAAP
Dec, 2024 Guidance 63,000 2,500 2,500 700 37.7 20 Nov 7, 2024 J-GAAP
YoY +6.8% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 15,426 897 1,082 870 47.0 5.8 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 15,886 -150 -620 -842 -45.4 -0.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 14,668 422 874 313 16.9 2.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 16,333 759 1,212 707 38.1 4.6 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 16,360 958 -28 10 0.5 5.9 Nov 7, 2024 J-GAAP
YoY +6.1% +6.8% － -98.9% -98.9%

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