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Encourage Technologies Co.,Ltd., First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 34%

Fri Nov 8, 2024 12:00 pm JST Earnings

3682 Encourage Technologies Co.,Ltd. 【J-GAAP】

Earnings Report

Encourage Technologies Co.,Ltd. <3682> [TSE-S] announced its financial results at noon (12:00) on November 8th. The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.2% from the same period last year to 103 million yen. The progress rate against the 350 million yen full-year plan was 29.4%, also falling below the five-year average of 41.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 28.6% from the same period last year, reaching 247 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 75 million yen, a 34.2% decrease compared to the same period last year. The operating profit margin significantly dropped from 17.8% in the same period last year to 11.6%.

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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 1,010 57 56 37 5.6 23.0 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 1,184 128 129 88 13.3 40.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 1,222 102 103 69 10.5 29.4 Nov 8, 2024 J-GAAP
YoY +3.2% -20.3% -20.2% -21.6% -21.7%

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 ー ー ー ー － 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 1,222 102 103 69 10.5 0 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 1,314 190 192 130 19.6 20 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,528 248 247 171 25.7 20 Nov 8, 2024 J-GAAP
YoY +16.3% +30.5% +28.6% +31.5% +31.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,120 243 244 174 26.2 20 May 11, 2023 J-GAAP
Mar, 2024 2,498 318 321 218 32.9 20 May 10, 2024 J-GAAP
Mar, 2025 Guidance 2,750 350 350 240 36.0 20 May 10, 2024 J-GAAP
YoY +10.1% +10.1% +9.0% +10.1% +9.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 635 113 114 79 12.0 17.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 597 64 64 42 6.4 10.7 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 717 126 128 88 13.3 17.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 567 26 28 18 2.7 4.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 655 76 75 51 7.7 11.6 Nov 8, 2024 J-GAAP
YoY +3.1% -32.7% -34.2% -35.4% -35.6%

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