Focus Systems Corporation, First Half Ordinary Profit Increases by 30%

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Fri Nov 8, 2024 3:30 pm JST Earnings

4662 Focus Systems Corporation 【J-GAAP】

Earnings Report

Focus Systems Corporation <4662> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 29.5% from the same period last year, reaching 834 million yen. However, The progress rate against the 2.1 billion yen full-year plan was 39.7%, also falling below the five-year average of 47.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 4.6% from the same period last year to 1.26 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 16.9% from the same period last year, reaching 499 million yen. The operating profit margin improved from 5.3% in the same period last year to 6.2%.

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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	14,238	1,103	1,165	797	52.9	61.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	15,166	651	644	439	29.1	32.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	15,962	818	834	569	37.7	39.7	Nov 8, 2024	J-GAAP
YoY	+5.2%	+25.7%	+29.5%	+29.6%	+29.5%

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	－	6	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	15,962	818	834	569	37.7	6	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	16,343	1,323	1,327	967	64.1	32	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,538	1,282	1,266	861	57.0	32	Nov 8, 2024	J-GAAP
YoY	+1.2%	-3.1%	-4.6%	-11.0%	-11.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	29,124	1,894	1,911	1,390	92.2	35	May 12, 2023	J-GAAP
Mar, 2024	31,509	1,974	1,971	1,406	93.1	38	May 10, 2024	J-GAAP
Mar, 2025 Guidance	32,500	2,100	2,100	1,430	94.6	38	May 10, 2024	J-GAAP
YoY	+3.1%	+6.4%	+6.5%	+1.7%	+1.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,856	415	427	291	19.3	5.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	7,860	569	568	385	25.5	7.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,483	754	759	582	38.6	8.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,998	323	335	229	15.2	4.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,964	495	499	340	22.5	6.2	Nov 8, 2024	J-GAAP
YoY	+1.4%	+19.3%	+16.9%	+16.8%	+16.8%