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MEDICAL SYSTEM NETWORK Co., Ltd., First Half Ordinary Profit Decreases by 40%, July-September Ordinary Profit Decreases by 57%

Fri Nov 8, 2024 3:30 pm JST Earnings

4350 MEDICAL SYSTEM NETWORK Co., Ltd. 【J-GAAP】

Earnings Report

MEDICAL SYSTEM NETWORK Co., Ltd. <4350> [TSE-S] 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) dropped by 39.7% from the same period last year to 1.02 billion yen. The progress rate against the 3 billion yen full-year plan was 34.0%, also falling below the five-year average of 44.7%.

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 decrease by 7.2% from the same period last year to 1.98 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 552 million yen, a 56.9% decrease compared to the same period last year. The operating profit margin worsened from 4.4% in the same period last year to 1.8%.

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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 53,340 1,099 1,242 502 16.6 37.0 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 56,461 1,712 1,692 861 28.5 44.2 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 59,761 1,027 1,020 207 7.1 34.0 Nov 8, 2024 J-GAAP
YoY +5.8% -40.0% -39.7% -76.0% -75.2%

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 59,761 1,027 1,020 207 7.1 6 Oct 31, 2024 J-GAAP
Apr - Sep, 2024 Results 59,761 1,027 1,020 207 7.1 6 Nov 8, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 58,900 2,120 2,133 999 33.2 6 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 62,239 1,973 1,980 1,043 35.7 6 Oct 31, 2024 J-GAAP
YoY +5.7% -6.9% -7.2% +4.4% +7.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 109,551 3,163 3,355 1,610 53.4 12 May 9, 2023 J-GAAP
Mar, 2024 115,361 3,832 3,825 1,860 61.9 12 May 10, 2024 J-GAAP
Mar, 2025 Guidance 122,000 3,000 3,000 1,250 42.8 12 Oct 31, 2024 J-GAAP
YoY +5.8% -21.7% -21.6% -32.8% -30.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 28,805 1,261 1,282 713 23.6 4.4 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 29,714 1,357 1,352 832 27.6 4.6 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 29,186 763 781 167 5.6 2.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 29,419 468 468 170 5.9 1.6 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 30,342 559 552 37 1.3 1.8 Nov 8, 2024 J-GAAP
YoY +5.3% -55.7% -56.9% -94.8% -94.6%

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