FUTABA CORPORATION, The Current Fiscal Year Ordinary Profit Loss Widened in Downward Revision

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Mon Nov 11, 2024 3:30 pm JST Earnings

6986 FUTABA CORPORATION 【J-GAAP】

Earnings Report

FUTABA CORPORATION <6986> [TSE-P] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 357 million yen (compared to a profit of 14 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected loss of 300 million yen to a loss of 500 million yen (compared to a profit of 570 million yen in the previous period), indicating an expansion in the loss margin.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 143 million yen (compared to a profit of 556 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 754 million yen (compared to a profit of 160 million yen in the same period last year). However, the operating profit/loss margin remained almost flat, changing from -1.8% 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	29,519	-1,474	6	-1,371	-32.3	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	29,061	-1,172	14	-3,059	-72.1	2.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	24,568	-474	-357	-1,273	-30.0	ー	Nov 11, 2024	J-GAAP
YoY	-15.5%	+59.6%	－	+58.4%	+58.4%

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	25,000	-700	-600	-900	-21.2	0	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	24,568	-474	-357	-1,273	-30.0	0	Nov 11, 2024	J-GAAP
Revision Rate	-1.7%	+32.3%	+40.5%	-41.4%	-41.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	51,000	-400	-300	-800	-18.9	10	Aug 8, 2024	J-GAAP
Mar, 2025 New	50,000	-1,100	-500	-900	-21.2	10	Nov 11, 2024	J-GAAP
Revision Rate	-2.0%	-175.0%	-66.7%	-12.5%	-12.5%

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	27,299	31	556	1,205	28.4	5	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,432	-626	-143	373	8.8	10	Nov 11, 2024	J-GAAP
YoY	-6.8%	－	－	-69.0%	-69.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	60,326	-2,387	-1,134	-3,499	-82.5	14	May 12, 2023	J-GAAP
Mar, 2024	56,360	-1,141	570	-1,854	-43.7	10	May 10, 2024	J-GAAP
Mar, 2025 Guidance	50,000	-1,100	-500	-900	-21.2	10	Nov 11, 2024	J-GAAP
YoY	-11.3%	+3.6%	－	+51.5%	+51.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,205	-280	160	-1,848	-43.6	-1.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,190	34	-38	-379	-8.9	0.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	14,109	-3	594	1,584	37.3	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	12,690	-261	397	71	1.7	-2.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	11,878	-213	-754	-1,344	-31.7	-1.8	Nov 11, 2024	J-GAAP
YoY	-21.9%	+23.9%	－	+27.3%	+27.3%