NEOJAPAN, The Current Fiscal Year Ordinary Profit Revised Upward by 19%, Adds to Record High Profit Forecast, Dividend Revised Upward by 3 yen

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Tue Dec 10, 2024 3:30 pm JST Earnings

3921 NEOJAPAN Inc. 【J-GAAP】

Earnings Report

NEOJAPAN Inc. <3921> [TSE Prime] announced its financial results after the market closed on December 10th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) increased 26.6% from the same period last year, reaching 1.45 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 18.9%, from the previous forecast of 1.61 billion yen to 1.92 billion yen (compared to 1.37 billion yen in the previous period), increasing the growth rate from 17.7% to 40.0%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the August to January period (second half) is expected to increase 42.3%, from the previous forecast of 723 million yen to 1.02 billion yen (compared to 728 million yen in the same period of the previous year), turning to a 41.3% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 28 yen to 31 yen (compared to 23 yen in the previous period).

In the most recent three-month period, from August to October (3Q), the consolidated ordinary profit grew 11.3% from the same period last year, reaching 560 million yen. However, the operating profit margin remained almost flat, changing from 27.8% in the same period last year to 27.7%.

Kabutan News

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
Feb - Oct, 2022	4,462	960	1,052	707	47.5	78.8	Dec 13, 2022	J-GAAP
Feb - Oct, 2023	4,956	1,083	1,150	826	55.7	83.6	Dec 13, 2023	J-GAAP
Feb - Oct, 2024	5,286	1,378	1,456	983	69.7	75.6	Dec 10, 2024	J-GAAP
YoY	+6.7%	+27.2%	+26.6%	+19.0%	+25.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2024 Prev	3,671	758	723	496	35.5	14	Sep 11, 2024	J-GAAP
Aug - Jan, 2024 New	3,887	1,037	1,029	721	51.5	17	Dec 10, 2024	J-GAAP
Revision Rate	+5.9%	+36.8%	+42.3%	+45.4%	+45.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	7,037	1,605	1,619	1,098	78.5	28	Jun 14, 2024	J-GAAP
Jan, 2025 New	7,253	1,884	1,925	1,323	94.6	31	Dec 10, 2024	J-GAAP
Revision Rate	+3.1%	+17.4%	+18.9%	+20.5%	+20.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	3,391	694	728	475	32.0	23	Mar 13, 2024	J-GAAP
Aug - Jan, 2024 Guidance	3,887	1,037	1,029	721	51.5	17	Dec 10, 2024	J-GAAP
YoY	+14.6%	+49.4%	+41.3%	+51.8%	+61.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	6,007	1,241	1,335	812	54.5	20	Mar 13, 2023	J-GAAP
Jan, 2024	6,615	1,296	1,375	956	64.4	23	Mar 13, 2024	J-GAAP
Jan, 2025 Guidance	7,253	1,884	1,925	1,323	94.6	31	Dec 10, 2024	J-GAAP
YoY	+9.6%	+45.4%	+40.0%	+38.4%	+46.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	1,732	481	503	345	23.3	27.8	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	1,659	213	225	130	8.8	12.8	Mar 13, 2024	J-GAAP
Feb - Apr, 2024	1,687	436	468	315	22.0	25.8	Jun 14, 2024	J-GAAP
May - Jul, 2024	1,679	411	428	287	20.3	24.5	Sep 11, 2024	J-GAAP
Aug - Oct, 2024	1,920	531	560	381	27.0	27.7	Dec 10, 2024	J-GAAP
YoY	+10.9%	+10.4%	+11.3%	+10.4%	+16.2%