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ACSL Ltd., The Current Fiscal Year Net Income Loss Widened in Downward Revision, 91% Deficit Against Net Assets

Wed Nov 13, 2024 3:30 pm JST Earnings

6232 ACSL Ltd. 【J-GAAP】

Earnings Report

ACSL Ltd. <6232> [TSE-G] announced its financial results after the market closed on November 13th (15:30). The consolidated net loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 1.65 billion yen (compared to a loss of 1.45 billion yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected loss of 1.93 billion yen to a loss of 2.06 billion yen (compared to a loss of 2.54 billion yen in the previous period), indicating an expansion in the loss margin The deficit amounted to a 91.0% impairment of net assets at the end of the previous fiscal year..

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the July to December period (second half) has been revised downward from an expected loss of 925 million yen to a loss of 1.05 billion yen (compared to a loss of 1.6 billion yen in the same period of the previous year), indicating an expansion in the loss margin.

In the most recent three-month period, from July to September (3Q), the consolidated net loss expanded to a loss of 646 million yen (compared to a loss of 523 million yen in the same period last year). The operating profit/loss margin drastically worsened from -389.5% in the same period last year to -637.2%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 1,161 -1,329 -1,256 -1,277 -103.5 ー Nov 11, 2022 J-GAAP
Jan - Sep, 2023 657 -1,398 -1,444 -1,458 -114.5 ー Nov 13, 2023 J-GAAP
Jan - Sep, 2024 2,128 -1,523 -1,589 -1,656 -112.0 ー Nov 13, 2024 J-GAAP
YoY +223.9% -8.9% -10.0% -13.6% +2.2%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 1,290 -2,034 -897 -925 -62.0 0 Aug 13, 2024 J-GAAP
Jul - Dec, 2024 New 850 -1,404 -1,067 -1,050 -70.3 0 Nov 13, 2024 J-GAAP
Revision Rate -34.1% +31.0% -19.0% -13.5% -13.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 3,340 -3,060 -1,860 -1,935 -129.6 0 Mar 7, 2024 J-GAAP
Dec, 2024 New 2,900 -2,430 -2,030 -2,060 -138.0 0 Nov 13, 2024 J-GAAP
Revision Rate -13.2% +20.6% -9.1% -6.5% -6.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 372 -1,191 -1,179 -1,608 -124.6 0 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 850 -1,404 -1,067 -1,050 -70.3 0 Nov 13, 2024 J-GAAP
YoY +128.5% -17.9% +9.5% +34.7% +43.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 1,635 -2,203 -2,174 -2,591 -209.8 0 Feb 14, 2023 J-GAAP
Dec, 2023 896 -2,071 -2,102 -2,543 -197.1 0 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 2,900 -2,430 -2,030 -2,060 -138.0 0 Nov 13, 2024 J-GAAP
YoY +223.7% -17.3% +3.4% +19.0% +30.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 133 -518 -521 -523 -41.1 -389.5 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 239 -673 -658 -1,085 -84.1 -281.6 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 288 -594 -589 -656 -45.1 -206.3 May 15, 2024 J-GAAP
Apr - Jun, 2024 1,762 -432 -374 -354 -24.1 -24.5 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 78 -497 -626 -646 -43.7 -637.2 Nov 13, 2024 J-GAAP
YoY -41.4% +4.1% -20.2% -23.5% -6.4%

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