Frontier Management Inc., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Wed Nov 13, 2024 3:30 pm JST Earnings

7038 Frontier Management Inc. 【J-GAAP】

Earnings Report

Frontier Management Inc. <7038> [TSE-P] 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) significantly dropped by 97.9% from the same period last year to 18 million yen.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 1.57 billion yen to a loss of 1.03 billion yen (compared to a profit of 1.23 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised downward from an expected profit of 1.45 billion yen to a loss of 1.14 billion yen (compared to a profit of 543 million yen in the same period of the previous year), turning to a loss outlook.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 95 million yen (compared to a profit of 157 million yen in the same period last year). The operating profit/loss margin drastically worsened from 7.0% in the same period last year to -0.7%.

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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	5,889	679	696	351	30.7	75.6	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	7,267	854	852	529	46.0	68.8	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	6,748	92	18	-109	-9.3	ー	Nov 13, 2024	J-GAAP
YoY	-7.1%	-89.2%	-97.9%	－	－

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	8,441	1,512	1,457	987	84.0	－	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 New	4,441	-1,058	-1,143	-883	-75.2	－	Nov 13, 2024	J-GAAP
Revision Rate	-47.4%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	13,000	1,620	1,570	1,000	85.1	－	Feb 14, 2024	J-GAAP
Dec, 2024 New	9,000	-950	-1,030	-870	-74.1	－	Nov 13, 2024	J-GAAP
Revision Rate	-30.8%	－	－	－	－

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	5,034	556	543	374	32.4	41	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	4,441	-1,058	-1,143	-883	-75.2	－	Nov 13, 2024	J-GAAP
YoY	-11.8%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	7,915	908	921	556	48.7	28	Feb 10, 2023	J-GAAP
Dec, 2023	10,025	1,251	1,238	780	67.5	41	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	9,000	-950	-1,030	-870	-74.1	－	Nov 13, 2024	J-GAAP
YoY	-10.2%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,276	159	157	123	10.7	7.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	2,758	397	386	251	21.7	14.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,161	63	72	13	1.1	2.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,398	45	41	0	0.0	1.9	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	2,189	-16	-95	-122	-10.4	-0.7	Nov 13, 2024	J-GAAP
YoY	-3.8%	－	－	－	－