MRSO.,Inc, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 76% Decrease

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Thu Nov 14, 2024 12:00 pm JST Earnings

5619 MRSO.,Inc 【J-GAAP】

Earnings Report

MRSO.,Inc <5619> [TSE-G] announced its financial results at noon (12:00) on November 14th. The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 74.0% from the same period last year to 127 million yen.

In addition, the full-year ordinary profit has downwardly by 76.7%, from the previous forecast of 630 million yen to 147 million yen (compared to 601 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 75.5% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the ordinary profit for the July to December period (second half) has downwardly by 90.6%, from the previous forecast of 533 million yen to 50 million yen (compared to 242 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 79.3% decrease in profit.

In the most recent three-month period, from July to September (3Q), the ordinary profit significantly dropped to 30 million yen, a 76.7% decrease compared to the same period last year. The operating profit margin sharply declined from 31.6% in the same period last year to 10.2%.

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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, 2024	976	127	127	87	24.7	86.4	Nov 14, 2024	J-GAAP
YoY	－	－	－	－	－

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	1,358	533	533	370	104.2	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	648	50	50	35	9.9	0	Nov 14, 2024	J-GAAP
Revision Rate	-52.3%	-90.6%	-90.6%	-90.5%	-90.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	2,040	630	630	437	123.0	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	1,330	147	147	102	28.7	0	Nov 14, 2024	J-GAAP
Revision Rate	-34.8%	-76.7%	-76.7%	-76.7%	-76.7%

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	845	259	242	152	44.0	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	648	50	50	35	9.9	0	Nov 14, 2024	J-GAAP
YoY	-23.3%	-80.7%	-79.3%	-77.0%	-77.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	1,809	618	601	387	112.1	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	1,330	147	147	102	28.7	0	Nov 14, 2024	J-GAAP
YoY	-26.5%	-76.2%	-75.5%	-73.6%	-74.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	430	128	113	67	19.4	29.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	430	125	125	86	24.4	29.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	252	-28	-28	-19	-5.4	-11.1	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	294	30	30	20	5.7	10.2	Nov 14, 2024	J-GAAP
YoY	－	－	－	－	－