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IPS, Inc., First Half Ordinary Profit Unexpectedly Revised Upward by 2%

Fri Nov 8, 2024 3:30 pm JST Earnings

4390 IPS, Inc. 【J-GAAP】

Earnings Report

IPS, Inc. <4390> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 1.58 billion yen, a 1.9% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 18.5% decrease.

The progress rate against the 3.9 billion yen full-year plan was 40.7%, almost the same as the five-year average of 40.8%.

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 19.4% from the same period last year to 2.31 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 499 million yen, a 2.7% decrease compared to the same period last year. However, the operating profit margin jumped from 18.5% in the same period last year to 38.6%.

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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 5,783 1,636 2,372 1,660 133.7 68.5 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 5,248 925 1,558 954 76.7 35.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 7,744 2,339 1,588 961 74.6 40.7 Nov 8, 2024 J-GAAP
YoY +47.6% +152.9% +1.9% +0.7% -2.8%

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 7,250 1,500 1,270 760 58.9 20 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 7,744 2,339 1,588 961 74.6 20 Nov 8, 2024 J-GAAP
Revision Rate +6.8% +55.9% +25.0% +26.4% +26.7%

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 8,869 2,969 2,869 1,881 149.3 19.50 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 8,756 1,951 2,312 1,589 122.8 20 Nov 8, 2024 J-GAAP
YoY -1.3% -34.3% -19.4% -15.5% -17.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 12,346 3,311 3,464 2,292 184.5 35 May 12, 2023 J-GAAP
Mar, 2024 14,117 3,894 4,427 2,835 225.1 37 May 10, 2024 J-GAAP
Mar, 2025 Guidance 16,500 4,290 3,900 2,550 197.1 40 May 10, 2024 J-GAAP
YoY +16.9% +10.2% -11.9% -10.1% -12.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,769 512 513 314 25.3 18.5 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 3,102 530 -3 -3 -0.2 17.1 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 5,767 2,439 2,872 1,884 149.6 42.3 May 10, 2024 J-GAAP
Apr - Jun, 2024 3,657 760 1,089 652 50.7 20.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 4,087 1,579 499 309 24.0 38.6 Nov 8, 2024 J-GAAP
YoY +47.6% +208.4% -2.7% -1.6% -5.0%

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