INNOTECH CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 29%

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Fri Nov 8, 2024 3:30 pm JST Earnings

9880 INNOTECH CORPORATION 【J-GAAP】

Earnings Report

INNOTECH CORPORATION <9880> [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) dropped by 37.8% from the same period last year to 750 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 29.4%, from the previous forecast of 2.55 billion yen to 1.8 billion yen (compared to 2.88 billion yen in the previous period), leading to an increase in the profit decline rate from 11.5% to 37.5%.

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 drop by 37.3% from the same period last year to 1.05 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 17 million yen, a 98.1% decrease compared to the same period last year. The operating profit margin worsened from 7.0% in the same period last year to 4.4%.

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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	19,763	1,261	1,528	923	70.4	61.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	19,471	854	1,206	833	62.8	41.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	20,808	898	750	459	34.1	41.7	Nov 8, 2024	J-GAAP
YoY	+6.9%	+5.2%	-37.8%	-44.9%	-45.6%

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	－	35	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	20,808	898	750	459	34.1	35	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	43,500	2,500	2,550	1,700	126.7	70	May 10, 2024	J-GAAP
Mar, 2025 New	41,500	1,800	1,800	1,350	100.6	70	Nov 8, 2024	J-GAAP
Revision Rate	-4.6%	-28.0%	-29.4%	-20.6%	-20.6%

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	21,887	1,620	1,674	644	48.2	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,692	902	1,050	891	66.4	35	Nov 8, 2024	J-GAAP
YoY	-5.5%	-44.3%	-37.3%	+38.4%	+37.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,629	2,319	2,480	1,666	127.0	70	May 12, 2023	J-GAAP
Mar, 2024	41,358	2,474	2,880	1,477	110.6	70	May 10, 2024	J-GAAP
Mar, 2025 Guidance	41,500	1,800	1,800	1,350	100.6	70	Nov 8, 2024	J-GAAP
YoY	+0.3%	-27.2%	-37.5%	-8.6%	-9.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,782	753	881	644	48.5	7.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	10,854	985	976	161	12.1	9.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	11,033	635	698	483	36.2	5.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	10,218	434	733	434	32.3	4.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,590	464	17	25	1.9	4.4	Nov 8, 2024	J-GAAP
YoY	-1.8%	-38.4%	-98.1%	-96.1%	-96.2%