Forum Engineering Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 18%, Dividend Revised Upward by 7.5 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

7088 Forum Engineering Inc. 【J-GAAP】

Earnings Report

Forum Engineering Inc. <7088> [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) expanded to 2.06 billion yen, an increase of 62.0% compared to the same period last year, exceeded the previous forecast of 1.59 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 18.0%, from the previous forecast of 3.45 billion yen to 4.07 billion yen (compared to 3.01 billion yen in the previous period), increasing the growth rate from 14.4% to 34.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 15.1% from the same period last year, reaching 2 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 42.5 yen to 50 yen (compared to 37.5 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 46.9% from the same period last year, reaching 905 million yen. The operating profit margin improved from 8.1% in the same period last year to 10.5%.

Kabutan News

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	14,112	337	329	224	4.4	20.3	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	15,304	1,276	1,275	856	16.6	42.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	16,955	2,028	2,065	1,378	26.4	50.7	Nov 8, 2024	J-GAAP
YoY	+10.8%	+58.9%	+62.0%	+61.0%	+59.1%

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	16,790	1,600	1,590	1,060	20.3	18	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	16,955	2,028	2,065	1,378	26.4	21	Nov 8, 2024	J-GAAP
Revision Rate	+1.0%	+26.8%	+29.9%	+30.0%	+30.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	34,320	3,460	3,450	2,310	44.1	42.50	May 14, 2024	J-GAAP
Mar, 2025 New	34,600	4,000	4,070	2,725	52.0	50	Nov 8, 2024	J-GAAP
Revision Rate	+0.8%	+15.6%	+18.0%	+18.0%	+18.0%

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	15,975	1,753	1,742	1,183	22.9	37.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	17,645	1,972	2,005	1,347	25.7	29	Nov 8, 2024	J-GAAP
YoY	+10.5%	+12.5%	+15.1%	+13.9%	+12.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,751	1,622	1,619	1,163	22.6	25	May 12, 2023	J-GAAP
Mar, 2024	31,279	3,029	3,017	2,039	39.4	37.50	May 14, 2024	J-GAAP
Mar, 2025 Guidance	34,600	4,000	4,070	2,725	52.0	50	Nov 8, 2024	J-GAAP
YoY	+10.6%	+32.1%	+34.9%	+33.6%	+32.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,584	618	616	412	8.0	8.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	8,188	1,146	1,153	776	15.0	14.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	7,787	607	589	407	7.9	7.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,528	1,141	1,160	774	14.8	13.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	8,427	887	905	604	11.6	10.5	Nov 8, 2024	J-GAAP
YoY	+11.1%	+43.5%	+46.9%	+46.6%	+44.9%