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Core Concept Technologies Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 16%

Wed Nov 13, 2024 4:00 pm JST Earnings

4371 Core Concept Technologies Inc. 【J-GAAP】

Earnings Report

Core Concept Technologies Inc. <4371> [TSE-G] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 20.5% from the same period last year, reaching 1.66 billion yen.

However, the full-year consolidated ordinary profit has downwardly by 15.9%, from the previous forecast of 2.39 billion yen to 2.01 billion yen (compared to 1.76 billion yen in the previous period), leading to a reduction in the profit growth rate from 35.9% to 14.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 28.3%, from the previous forecast of 1.34 billion yen to 966 million yen (compared to 954 million yen in the same period of the previous year), leading to a reduction in the profit growth rate from 41.3% to 1.3%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 7.6% from the same period last year, reaching 610 million yen. However, the operating profit margin decreased from 14.0% in the same period last year to 11.7%.

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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 8,773 943 965 709 44.7 84.7 Nov 11, 2022 J-GAAP
Jan - Sep, 2023 11,570 1,368 1,378 985 57.0 78.1 Nov 13, 2023 J-GAAP
Jan - Sep, 2024 14,285 1,639 1,661 1,130 66.1 82.4 Nov 13, 2024 J-GAAP
YoY +23.5% +19.8% +20.5% +14.7% +16.0%

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 11,692 1,356 1,348 911 54.5 0 Aug 13, 2024 J-GAAP
Jul - Dec, 2024 New 9,936 958 966 598 35.8 0 Nov 13, 2024 J-GAAP
Revision Rate -15.0% -29.4% -28.3% -34.4% -34.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 20,856 2,398 2,399 1,646 98.5 0 Feb 13, 2024 J-GAAP
Dec, 2024 New 19,100 2,000 2,017 1,333 79.8 0 Nov 13, 2024 J-GAAP
Revision Rate -8.4% -16.6% -15.9% -19.0% -19.0%

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 8,435 948 954 723 42.5 0 Feb 13, 2024 J-GAAP
Jul - Dec, 2024 Guidance 9,936 958 966 598 35.8 0 Nov 13, 2024 J-GAAP
YoY +17.8% +1.1% +1.3% -17.3% -15.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 12,113 1,120 1,139 836 52.2 0 Feb 13, 2023 J-GAAP
Dec, 2023 15,921 1,744 1,765 1,303 76.6 0 Feb 13, 2024 J-GAAP
Dec, 2024 Guidance 19,100 2,000 2,017 1,333 79.8 0 Nov 13, 2024 J-GAAP
YoY +20.0% +14.7% +14.3% +2.3% +4.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,084 572 567 405 23.4 14.0 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 4,351 376 387 318 18.7 8.6 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 4,437 562 562 402 23.6 12.7 May 14, 2024 J-GAAP
Apr - Jun, 2024 4,727 480 489 333 19.5 10.2 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 5,121 597 610 395 23.1 11.7 Nov 13, 2024 J-GAAP
YoY +25.4% +4.4% +7.6% -2.5% -1.4%

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