en Japan Inc., July-September (2Q) Ordinary Profit Decreases by 35%

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Thu Nov 14, 2024 3:45 pm JST Earnings

4849 en Japan Inc. 【J-GAAP】

Earnings Report

en Japan Inc. <4849> [TSE-P] announced its financial results after the market closed on November 14th (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.13 billion yen, an increase of 59.2% compared to the same period last year. However, The progress rate against the 8.01 billion yen full-year plan was 26.7%, also falling below the five-year average of 47.7%.

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 45.9% from the same period last year, reaching 5.87 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 298 million yen, a 35.4% decrease compared to the same period last year. However, the operating profit margin improved from 2.0% in the same period last year to 4.2%.

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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	32,404	2,700	2,941	1,865	41.6	72.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	33,079	1,081	1,344	775	18.8	25.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	32,512	2,380	2,139	5,194	127.2	26.7	Nov 14, 2024	J-GAAP
YoY	-1.7%	+120.2%	+59.2%	+570.2%	+575.1%

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	－	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	32,512	2,380	2,139	5,194	127.2	0	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	34,582	4,080	4,025	3,421	83.5	70.10	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	40,488	5,720	5,872	4,136	101.3	70.10	Nov 14, 2024	J-GAAP
YoY	+17.1%	+40.2%	+45.9%	+20.9%	+21.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	67,716	4,249	4,072	2,695	61.0	70.10	May 11, 2023	J-GAAP
Mar, 2024	67,661	5,161	5,369	4,196	102.4	70.10	May 9, 2024	J-GAAP
Mar, 2025 Guidance	73,000	8,100	8,011	9,330	228.4	70.10	Jul 18, 2024	J-GAAP
YoY	+7.9%	+56.9%	+49.2%	+122.4%	+123.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,580	326	461	190	4.6	2.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	16,655	1,463	1,478	1,557	37.9	8.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	17,927	2,617	2,547	1,864	45.5	14.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	16,246	1,693	1,841	1,206	29.5	10.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,266	687	298	3,988	97.7	4.2	Nov 14, 2024	J-GAAP
YoY	-1.9%	+110.7%	-35.4%	+1,998.9%	+2,013.6%