FORLIFE Co., Ltd., First Half Ordinary Profit Turns to Profit

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Thu Nov 14, 2024 2:00 pm JST Earnings

3477 FORLIFE Co., Ltd. 【J-GAAP】

Earnings Report

FORLIFE Co., Ltd. <3477> [TSE-G] announced its financial results in the afternoon session on November 14th (14:00). The ordinary profit/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 123 million yen (compared to a loss of 15 million yen in the same period last year), exceeded the previous forecast of 10 million yen.

However, The progress rate against the 350 million yen full-year plan was 35.1%, also falling below the five-year average of 45.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to nearly flat at 227 million yen, up 0.4% from the same period last year.

In the most recent three-month period, from July to September (2Q), the ordinary profit surged to 35 times that of the same period last year, reaching 70 million yen. The operating profit margin improved from 0.3% in the same period last year to 2.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	6,704	210	187	124	31.1	55.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	6,736	11	-15	-13	-3.4	ー	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	6,093	153	123	293	73.3	35.1	Nov 14, 2024	J-GAAP
YoY	-9.5%	+1,290.9%	－	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	6,500	40	10	180	45.0	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	6,093	153	123	293	73.3	0	Nov 14, 2024	J-GAAP
Revision Rate	-6.3%	+282.5%	+1,130.0%	+62.8%	+62.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	7,251	250	226	164	41.1	12.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,907	257	227	117	29.3	17.50	Nov 14, 2024	J-GAAP
YoY	+22.8%	+2.8%	+0.4%	-28.7%	-28.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,114	388	336	235	59.0	17.50	May 15, 2023	J-GAAP
Mar, 2024	13,987	261	211	151	37.8	12.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	15,000	410	350	410	102.5	17.50	May 13, 2024	J-GAAP
YoY	+7.2%	+57.1%	+65.9%	+171.5%	+171.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,841	13	2	1	0.3	0.3	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,466	119	107	72	18.1	3.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,785	131	119	92	23.1	3.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,683	68	53	242	60.6	2.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	3,410	85	70	51	12.8	2.5	Nov 14, 2024	J-GAAP
YoY	-11.2%	+553.8%	+3,400.0%	+5,000.0%	+4,807.7%