BUSINESS BRAIN SHOWAOTA INC., First Half Net Income Decreases by 92%

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Fri Nov 8, 2024 4:00 pm JST Earnings

9658 BUSINESS BRAIN SHOWAOTA INC. 【IFRS】

Earnings Report

BUSINESS BRAIN SHOWAOTA INC. <9658> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 92.4% from the same period last year to 992 million yen. The progress rate against the 2.34 billion yen full-year plan was 42.4%, also falling below the four-year average of 55.3%.

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 expand by 33.7% from the same period last year, reaching 1.34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 63.7% from the same period last year, reaching 794 million yen. However, the operating profit margin worsened from 9.7% in the same period last year to 9.1%.

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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	17,626	1,532	1,534	794	66.5	47.3	Oct 31, 2022	IFRS
Apr - Sep, 2023	16,988	19,519	19,281	13,138	1,139.4	93.7	Oct 31, 2023	IFRS
Apr - Sep, 2024	18,064	1,176	1,390	992	85.5	49.6	Nov 8, 2024	IFRS
YoY	+6.3%	-94.0%	-92.8%	-92.4%	-92.5%

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	18,100	940	1,120	820	70.7	37	Aug 13, 2024	IFRS
Apr - Sep, 2024 Results	18,064	1,176	1,390	992	85.5	37	Nov 8, 2024	IFRS
Revision Rate	-0.2%	+25.1%	+24.1%	+21.0%	+20.9%

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	17,230	1,178	1,301	1,008	87.3	39	May 8, 2024	IFRS
Oct - Mar, 2024 Guidance	21,006	1,224	1,410	1,348	116.0	41	Nov 8, 2024	IFRS
YoY	+21.9%	+3.9%	+8.4%	+33.7%	+33.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,063	3,208	3,241	1,838	155.4	48	Apr 28, 2023	IFRS
Mar, 2024	34,218	20,697	20,582	14,146	1,224.5	75	May 8, 2024	IFRS
Mar, 2025 Guidance	39,070	2,400	2,800	2,340	201.4	78	Aug 13, 2024	IFRS
YoY	+14.2%	-88.4%	-86.4%	-83.5%	-83.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,457	823	886	485	42.1	9.7	Oct 31, 2023	IFRS
Oct - Dec, 2023	8,084	450	536	329	28.5	5.6	Jan 31, 2024	IFRS
Jan - Mar, 2024	9,146	728	765	679	58.8	8.0	May 8, 2024	IFRS
Apr - Jun, 2024	8,737	328	449	198	17.1	3.8	Aug 13, 2024	IFRS
Jul - Sep, 2024	9,327	848	941	794	68.4	9.1	Nov 8, 2024	IFRS
YoY	+10.3%	+3.0%	+6.2%	+63.7%	+62.7%