Future Innovation Group, Inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 53% Decrease

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Thu Nov 14, 2024 3:30 pm JST Earnings

4392 Future Innovation Group, Inc. 【J-GAAP】

Earnings Report

Future Innovation Group, Inc. <4392> [TSE-P] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 49.2% from the same period last year to 298 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 69.2%, from the previous forecast of 1.09 billion yen to 336 million yen (compared to 715 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 53.0% decrease in profit.

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 91.7%, from the previous forecast of 824 million yen to 68 million yen (compared to 237 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 71.3% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 30 million yen, a 72.5% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 1.6%.

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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	9,564	821	799	534	18.2	82.9	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	10,273	586	587	412	13.7	82.1	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	8,805	317	298	295	9.8	88.7	Nov 14, 2024	J-GAAP
YoY	-14.3%	-45.9%	-49.2%	-28.4%	-28.5%

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	9,138	853	824	705	23.3	5	Jul 23, 2024	J-GAAP
Jul - Dec, 2024 New	6,138	90	68	-20	-0.7	5	Nov 14, 2024	J-GAAP
Revision Rate	-32.8%	-89.4%	-91.7%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	15,000	1,123	1,092	1,000	33.1	5	Feb 14, 2024	J-GAAP
Dec, 2024 New	12,000	360	336	275	9.1	5	Nov 14, 2024	J-GAAP
Revision Rate	-20.0%	-67.9%	-69.2%	-72.5%	-72.5%

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	6,530	254	237	-132	-4.4	5	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	6,138	90	68	-20	-0.7	5	Nov 14, 2024	J-GAAP
YoY	-6.0%	-64.6%	-71.3%	+84.8%	+84.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	12,914	932	964	685	23.4	10	Feb 9, 2023	J-GAAP
Dec, 2023	13,534	723	715	210	7.0	5	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	12,000	360	336	275	9.1	5	Nov 14, 2024	J-GAAP
YoY	-11.3%	-50.2%	-53.0%	+31.0%	+30.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,269	117	109	70	2.3	3.6	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	3,261	137	128	-202	-6.7	4.2	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	3,058	171	171	272	9.0	5.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,804	99	97	23	0.8	3.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,943	47	30	0	0.0	1.6	Nov 14, 2024	J-GAAP
YoY	-10.0%	-59.8%	-72.5%	－	-99.6%