Showcase Inc., The Current Fiscal Year Net Income Revised Downward to a Loss, 50% Deficit Against Net Assets

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Thu Nov 14, 2024 5:45 pm JST Earnings

3909 Showcase Inc. 【J-GAAP】

Earnings Report

Showcase Inc. <3909> [TSE-S] announced its financial results after the market closed on November 14th (17:45). The consolidated net loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 690 million yen (compared to a loss of 102 million yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 92 million yen to a loss of 750 million yen (compared to a loss of 117 million yen in the previous period), turning to a loss outlook The deficit amounted to a 49.7% impairment of net assets at the end of the previous fiscal year..

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the July to December period (second half) has been revised downward from an expected profit of 237 million yen to a loss of 605 million yen (compared to a loss of 70 million yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from July to September (3Q), the consolidated net loss expanded to a loss of 545 million yen (compared to a loss of 55 million yen in the same period last year). However, the operating profit/loss margin significantly improved from -9.2% in the same period last year to -5.4%.

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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	3,233	-347	-356	-340	-39.7	ー	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	4,459	-222	-229	-102	-12.1	ー	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	4,758	-199	-218	-690	-99.2	ー	Nov 14, 2024	J-GAAP
YoY	+6.7%	+10.4%	+4.8%	-576.5%	-717.1%

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	4,612	227	228	237	27.6	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	2,892	-68	-127	-605	-70.6	0	Nov 14, 2024	J-GAAP
Revision Rate	-37.3%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	7,950	105	95	92	10.7	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	6,230	-190	-260	-750	-87.5	0	Nov 14, 2024	J-GAAP
Revision Rate	-21.6%	－	－	－	－

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	2,290	-161	-168	-70	-8.7	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,892	-68	-127	-605	-70.6	0	Nov 14, 2024	J-GAAP
YoY	+26.3%	+57.8%	+24.4%	-764.3%	-707.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	4,631	-530	-541	-526	-61.4	0	Feb 14, 2023	J-GAAP
Dec, 2023	5,683	-285	-298	-117	-14.6	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	6,230	-190	-260	-750	-87.5	0	Nov 14, 2024	J-GAAP
YoY	+9.6%	+33.3%	+12.8%	-541.0%	-498.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,066	-98	-99	-55	-6.6	-9.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,224	-63	-69	-15	-1.9	-5.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,608	-71	-74	-53	-7.6	-4.4	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,730	-51	-59	-92	-13.3	-2.9	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	1,420	-77	-85	-545	-78.4	-5.4	Nov 14, 2024	J-GAAP
YoY	+33.2%	+21.4%	+14.1%	-890.9%	-1,096.2%