F@N Communications Inc., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 37%, July-September Ordinary Profit Decreases by 47%

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Fri Nov 8, 2024 3:00 pm JST Earnings

2461 F@N Communications Inc. 【J-GAAP】

Earnings Report

F@N Communications Inc. <2461> [TSE-P] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 36.9% from the same period last year to 1.07 billion yen. The progress rate against the 1.92 billion yen full-year plan was 55.9%, also falling below the five-year average of 80.3%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to surge by 2.1 times that of the same period last year, reaching 847 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 292 million yen, a 47.0% decrease compared to the same period last year. The operating profit margin decreased from 28.8% in the same period last year to 20.4%.

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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	5,815	1,902	1,964	1,320	19.0	80.3	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	5,565	1,656	1,700	971	14.7	80.8	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	5,163	1,064	1,073	995	15.0	55.9	Nov 8, 2024	J-GAAP
YoY	-7.2%	-35.7%	-36.9%	+2.5%	+2.5%

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	3,632	930	954	631	9.5	19	Feb 8, 2024	J-GAAP
Jul - Dec, 2024 Guidance	3,576	1,204	1,139	730	11.0	19	Aug 8, 2024	J-GAAP
YoY	-1.5%	+29.5%	+19.4%	+15.7%	+15.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	7,737	2,407	2,447	1,535	22.3	19	Feb 8, 2023	J-GAAP
Dec, 2023	7,396	2,068	2,103	1,233	18.6	19	Feb 8, 2024	J-GAAP
Dec, 2024 Guidance	6,980	1,910	1,920	1,560	23.6	19	May 2, 2024	J-GAAP
YoY	-5.6%	-7.6%	-8.7%	+26.5%	+26.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,801	518	551	369	5.6	28.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	1,831	412	403	262	4.0	22.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,702	352	355	515	7.8	20.7	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,702	354	426	315	4.8	20.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	1,759	358	292	165	2.5	20.4	Nov 8, 2024	J-GAAP
YoY	-2.3%	-30.9%	-47.0%	-55.3%	-55.3%