SYNCLAYER INC., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 38%, July-September Ordinary Profit Turns to Loss

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Wed Nov 13, 2024 3:30 pm JST Earnings

1724 SYNCLAYER INC. 【J-GAAP】

Earnings Report

SYNCLAYER INC. <1724> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 38.5% from the same period last year to 163 million yen. The progress rate against the 640 million yen full-year plan was 25.5%, also falling below the five-year average of 75.8%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to expand by 47.7% from the same period last year, reaching 477 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 5 million yen (compared to a profit of 99 million yen in the same period last year). However, the operating profit margin improved from 3.9% in the same period last year to 5.8%.

Kabutan News

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	7,514	284	324	201	43.6	74.0	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	7,376	229	265	174	37.7	45.1	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	8,118	317	163	112	24.3	25.5	Nov 13, 2024	J-GAAP
YoY	+10.1%	+38.4%	-38.5%	-35.6%	-35.7%

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	5,266	402	422	334	72.1	19	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	6,621	488	472	333	71.5	18	Aug 9, 2024	J-GAAP
YoY	+25.7%	+21.4%	+11.8%	-0.3%	-0.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	9,965	414	438	294	63.7	17	Feb 14, 2023	J-GAAP
Dec, 2023	10,443	546	588	433	93.4	25	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	11,700	630	640	450	96.7	26	Feb 14, 2024	J-GAAP
YoY	+12.0%	+15.4%	+8.8%	+3.9%	+3.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,199	85	99	75	16.3	3.9	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	3,067	317	323	259	55.9	10.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,761	179	188	135	29.2	6.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,318	-37	-20	-18	-3.9	-1.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,039	175	-5	-5	-1.1	5.8	Nov 13, 2024	J-GAAP
YoY	+38.2%	+105.9%	－	－	－