SYSTEMS DESIGN Co.,Ltd., First Half Ordinary Profit Decreases by 44%, July-September Ordinary Profit Decreases by 34%

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Fri Nov 8, 2024 1:00 pm JST Earnings

3766 SYSTEMS DESIGN Co.,Ltd. 【J-GAAP】

Earnings Report

SYSTEMS DESIGN Co.,Ltd. <3766> [TSE-S] announced its financial results in the afternoon session on November 8th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 44.2% from the same period last year to 145 million yen. The progress rate against the 422 million yen full-year plan was 34.4%, almost the same as the five-year average of 31.9%.

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 8.3% from the same period last year to 277 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 123 million yen, a 33.9% decrease compared to the same period last year. The operating profit margin worsened from 6.6% in the same period last year to 5.1%.

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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	4,568	264	268	162	47.6	44.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	4,582	225	260	153	45.1	46.3	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	4,611	133	145	80	23.5	34.4	Nov 8, 2024	J-GAAP
YoY	+0.6%	-40.9%	-44.2%	-47.7%	-47.9%

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	4,611	133	145	80	23.5	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	4,876	299	302	188	55.3	40	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,389	279	277	161	47.1	45	Nov 8, 2024	J-GAAP
YoY	+10.5%	-6.7%	-8.3%	-14.4%	-14.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,410	588	605	380	111.8	24	May 12, 2023	J-GAAP
Mar, 2024	9,458	524	562	341	100.3	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	10,000	412	422	241	70.5	45	May 10, 2024	J-GAAP
YoY	+5.7%	-21.4%	-24.9%	-29.3%	-29.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,310	153	186	114	33.6	6.6	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	2,468	184	185	114	33.5	7.5	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	2,408	115	117	74	21.8	4.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,259	13	22	3	1.2	0.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	2,352	120	123	77	22.6	5.1	Nov 8, 2024	J-GAAP
YoY	+1.8%	-21.6%	-33.9%	-32.5%	-32.7%