RAIZNEXT Corporation, First Half Ordinary Profit Decreases by 17%, July-September Ordinary Profit Decreases by 52%

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Fri Nov 8, 2024 3:00 pm JST Earnings

6379 RAIZNEXT Corporation 【J-GAAP】

Earnings Report

RAIZNEXT Corporation <6379> [TSE-P] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.7% from the same period last year to 3.63 billion yen. The progress rate against the 9.5 billion yen full-year plan was 38.3%, also falling below the five-year average of 46.7%.

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 nearly flat at 5.86 billion yen, down 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.54 billion yen, a 52.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.9% in the same period last year to 4.1%.

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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	68,747	5,497	5,721	3,968	73.3	50.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	70,219	4,190	4,366	2,869	53.0	42.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	75,155	3,516	3,638	2,634	49.3	38.3	Nov 8, 2024	J-GAAP
YoY	+7.0%	-16.1%	-16.7%	-8.2%	-6.9%

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	71,000	3,000	3,050	2,100	38.9	35	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	75,155	3,516	3,638	2,634	49.3	35	Nov 8, 2024	J-GAAP
Revision Rate	+5.9%	+17.2%	+19.3%	+25.4%	+26.8%

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	70,147	5,778	5,895	4,380	81.1	105	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	80,845	5,834	5,862	4,016	74.4	40	Nov 8, 2024	J-GAAP
YoY	+15.3%	+1.0%	-0.6%	-8.3%	-8.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	140,061	10,918	11,243	7,741	142.9	72	May 12, 2023	J-GAAP
Mar, 2024	140,366	9,968	10,261	7,249	134.2	135	May 15, 2024	J-GAAP
Mar, 2025 Guidance	156,000	9,350	9,500	6,650	123.2	75	May 15, 2024	J-GAAP
YoY	+11.1%	-6.2%	-7.4%	-8.3%	-8.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	40,245	3,194	3,217	2,169	40.1	7.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	32,062	2,140	2,203	1,510	27.9	6.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	38,085	3,638	3,692	2,870	53.1	9.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	36,561	1,948	2,093	1,557	29.2	5.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	38,594	1,568	1,545	1,077	20.2	4.1	Nov 8, 2024	J-GAAP
YoY	-4.1%	-50.9%	-52.0%	-50.3%	-49.7%