ASNOVA Co.,Ltd., First Half Ordinary Profit Revised Downward to a Loss

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Thu Nov 14, 2024 2:40 pm JST Earnings

9223 ASNOVA Co.,Ltd. 【J-GAAP】

Earnings Report

ASNOVA Co.,Ltd. <9223> [TSE-G] announced its financial results in the afternoon session on November 14th (14:40). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 5 million yen (compared to a profit of 80 million yen in the same period last year), reversing from the forecast of a 18 million yen to a loss

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 66.8% from the same period last year, reaching 407 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 27 million yen, a 66.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.8% in the same period last year to 1.8%.

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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	1,463	-9	1	-6	-0.5	0.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	1,708	81	80	41	3.4	24.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	1,969	-17	-5	-25	-2.0	ー	Nov 14, 2024	J-GAAP
YoY	+15.3%	－	－	－	－

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	1,888	31	18	-19	-1.5	1	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	1,969	-17	-5	-25	-2.0	1	Nov 14, 2024	J-GAAP
Revision Rate	+4.3%	－	－	-31.6%	-32.7%

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	2,077	268	244	169	13.7	1	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,236	449	407	245	19.7	1	Nov 14, 2024	J-GAAP
YoY	+7.7%	+67.5%	+66.8%	+45.0%	+44.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,141	187	212	144	11.8	1.88	May 12, 2023	J-GAAP
Mar, 2024	3,785	349	324	210	17.0	2	May 14, 2024	J-GAAP
Mar, 2025 Guidance	4,205	432	402	220	17.7	2	May 14, 2024	J-GAAP
YoY	+11.1%	+23.8%	+24.1%	+4.8%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	916	81	80	47	3.9	8.8	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,052	141	130	81	6.6	13.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,025	127	114	88	7.1	12.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	943	-35	-32	-33	-2.7	-3.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,026	18	27	8	0.7	1.8	Nov 14, 2024	J-GAAP
YoY	+12.0%	-77.8%	-66.3%	-83.0%	-83.2%