Cyfuse Biomedical K.K., The Current Fiscal Year Net Income Loss Widened in Downward Revision

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Thu Nov 14, 2024 4:00 pm JST Earnings

4892 Cyfuse Biomedical K.K. 【J-GAAP】

Earnings Report

Cyfuse Biomedical K.K. <4892> [TSE-G] announced its financial results after the market closed on November 14th (16:00). The net loss (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 664 million yen (compared to a loss of 534 million yen in the same period last year).

In addition, the full-year net income/loss has been revised downward from an expected loss of 727 million yen to a loss of 904 million yen (compared to a loss of 589 million yen in the previous period), indicating an expansion in the loss margin.

Based on the full-year plan announced by the company after the downward revision, our estimate of the net income/loss for the July to December period (second half) has been revised downward from an expected loss of 280 million yen to a loss of 457 million yen (compared to a loss of 225 million yen in the same period of the previous year), indicating an expansion in the loss margin.

In the most recent three-month period, from July to September (3Q), the net loss expanded to a loss of 217 million yen (compared to a loss of 170 million yen in the same period last year). The operating profit/loss margin drastically worsened from -1500.0% in the same period last year to -2825.0%.

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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, 2023	29	-528	-532	-534	-68.5	ー	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	26	-674	-662	-664	-82.8	ー	Nov 14, 2024	J-GAAP
YoY	-10.3%	-27.7%	-24.4%	-24.3%	-20.9%

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	587	-349	-279	-280	-34.4	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	42	-478	-456	-457	-56.2	0	Nov 14, 2024	J-GAAP
Revision Rate	-92.8%	-37.0%	-63.4%	-63.2%	-63.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	605	-797	-724	-727	-89.4	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	60	-926	-901	-904	-111.1	0	Nov 14, 2024	J-GAAP
Revision Rate	-90.1%	-16.2%	-24.4%	-24.3%	-24.3%

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	43	-334	-224	-225	-28.8	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	42	-478	-456	-457	-56.2	0	Nov 14, 2024	J-GAAP
YoY	-2.3%	-43.1%	-103.6%	-103.1%	-95.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	374	-425	-433	-473	-178.1	0	Feb 14, 2023	J-GAAP
Dec, 2023	61	-697	-586	-589	-75.4	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	60	-926	-901	-904	-111.1	0	Nov 14, 2024	J-GAAP
YoY	-1.6%	-32.9%	-53.8%	-53.5%	-47.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11	-165	-170	-170	-21.8	-1,500.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	32	-169	-54	-55	-7.0	-528.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	10	-229	-223	-224	-28.4	-2,290.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	8	-219	-222	-223	-28.0	-2,737.5	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	8	-226	-217	-217	-27.1	-2,825.0	Nov 14, 2024	J-GAAP
YoY	-27.3%	-37.0%	-27.6%	-27.6%	-24.1%