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

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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%