Commerce One Holdings Inc., First Half Ordinary Profit Decreases by 34%, July-September Ordinary Profit Decreases by 43%

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Thu Nov 14, 2024 3:30 pm JST Earnings

4496 Commerce One Holdings Inc. 【J-GAAP】

Earnings Report

Commerce One Holdings Inc. <4496> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 33.9% from the same period last year to 207 million yen. The progress rate against the 683 million yen full-year plan was 30.3%, also falling below the five-year average of 49.1%.

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 grow by 22.4% from the same period last year, reaching 476 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 100 million yen, a 43.2% decrease compared to the same period last year. However, the operating profit margin rose from 17.4% in the same period last year to 18.1%.

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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	1,550	296	331	217	28.9	54.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	1,741	271	313	191	26.4	44.6	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	1,816	320	207	77	10.8	30.3	Nov 14, 2024	J-GAAP
YoY	+4.3%	+18.1%	-33.9%	-59.7%	-59.1%

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	ー	ー	ー	ー	－	10	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	1,816	320	207	77	10.8	10	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	1,816	373	389	223	31.0	11	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,999	284	476	377	52.7	10	Nov 14, 2024	J-GAAP
YoY	+10.1%	-23.9%	+22.4%	+69.1%	+70.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,196	580	608	441	58.8	0	May 15, 2023	J-GAAP
Mar, 2024	3,557	644	702	414	57.5	38	May 15, 2024	J-GAAP
Mar, 2025 Guidance	3,815	604	683	454	63.4	20	May 15, 2024	J-GAAP
YoY	+7.3%	-6.2%	-2.7%	+9.7%	+10.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	876	152	176	110	15.2	17.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	887	175	184	129	17.9	19.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	929	198	205	94	13.1	21.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	898	154	107	40	5.6	17.1	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	918	166	100	37	5.2	18.1	Nov 14, 2024	J-GAAP
YoY	+4.8%	+9.2%	-43.2%	-66.4%	-65.9%