WILL GROUP,INC., First Half Net Income Decreases by 64%, July-September Net Income Decreases by 36%

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Fri Nov 8, 2024 3:30 pm JST Earnings

6089 WILL GROUP,INC. 【IFRS】

Earnings Report

WILL GROUP,INC. <6089> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 63.9% from the same period last year to 506 million yen. The progress rate against the 1.64 billion yen full-year plan was 30.9%, also falling below the five-year average of 52.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 17.6% from the same period last year to 1.13 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 437 million yen, a 35.6% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.5% in the same period last year to 2.4%.

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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	72,358	2,934	2,947	1,743	77.2	57.3	Nov 9, 2022	IFRS
Apr - Sep, 2023	69,276	2,019	2,086	1,402	61.8	47.2	Nov 8, 2023	IFRS
Apr - Sep, 2024	70,323	1,009	867	506	22.2	39.6	Nov 8, 2024	IFRS
YoY	+1.5%	-50.0%	-58.4%	-63.9%	-64.1%

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	70,350	780	730	530	23.2	0	Sep 25, 2024	IFRS
Apr - Sep, 2024 Results	70,323	1,009	867	506	22.2	0	Nov 8, 2024	IFRS
Revision Rate	0.0%	+29.4%	+18.8%	-4.5%	-4.4%

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	68,951	2,506	2,331	1,376	60.6	44	May 13, 2024	IFRS
Oct - Mar, 2024 Guidance	70,077	1,281	1,323	1,134	49.7	44	Nov 8, 2024	IFRS
YoY	+1.6%	-48.9%	-43.2%	-17.6%	-18.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	143,932	5,318	5,146	3,236	143.2	44	May 11, 2023	IFRS
Mar, 2024	138,227	4,525	4,417	2,778	122.4	44	May 13, 2024	IFRS
Mar, 2025 Guidance	140,400	2,290	2,190	1,640	71.9	44	May 13, 2024	IFRS
YoY	+1.6%	-49.4%	-50.4%	-41.0%	-41.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	34,841	887	891	679	30.0	2.5	Nov 8, 2023	IFRS
Oct - Dec, 2023	34,641	776	633	162	7.1	2.2	Feb 7, 2024	IFRS
Jan - Mar, 2024	34,310	1,730	1,698	1,214	53.5	5.0	May 13, 2024	IFRS
Apr - Jun, 2024	35,052	177	125	69	3.1	0.5	Aug 8, 2024	IFRS
Jul - Sep, 2024	35,271	832	742	437	19.2	2.4	Nov 8, 2024	IFRS
YoY	+1.2%	-6.2%	-16.7%	-35.6%	-35.9%