AZEARTH, First Half Ordinary Profit Decreases by 59%, August-October Ordinary Profit Decreases by 34%

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Wed Dec 11, 2024 4:00 pm JST Earnings

3161 AZEARTH Corporation 【J-GAAP】

Earnings Report

AZEARTH Corporation <3161> [TSE Std] announced its financial results after the market closed on December 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) significantly dropped 59.0% from the same period last year to 66 million yen. The progress rate toward the full-year plan of 461 million yen was 14.3%, also falling below the five-year average of 35.9%.

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 November to April period (second half) is expected to surge 2.7 times that of the same period last year, reaching 395 million yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit dropped to 50 million yen, a 34.2% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 2.4%.

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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
May - Oct, 2022	4,079	105	116	96	17.2	20.6	Dec 9, 2022	J-GAAP
May - Oct, 2023	4,129	150	161	105	18.5	52.3	Dec 13, 2023	J-GAAP
May - Oct, 2024	3,720	56	66	65	11.5	14.3	Dec 11, 2024	J-GAAP
YoY	-9.9%	-62.7%	-59.0%	-38.1%	-37.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Guidance	3,720	56	66	65	11.4	0	Nov 27, 2024	J-GAAP
May - Oct, 2024 Results	3,720	56	66	65	11.5	0	Dec 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov - Apr, 2023	4,113	141	147	82	14.5	23	Jun 13, 2024	J-GAAP
Nov - Apr, 2024 Guidance	5,309	398	395	245	43.0	23	Nov 27, 2024	J-GAAP
YoY	+29.1%	+182.3%	+168.7%	+198.8%	+196.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	9,081	531	562	406	72.0	22	Jun 13, 2023	J-GAAP
Apr, 2024	8,242	291	308	187	33.0	23	Jun 13, 2024	J-GAAP
Apr, 2025 Guidance	9,029	454	461	310	54.4	23	Jun 13, 2024	J-GAAP
YoY	+9.5%	+56.0%	+49.7%	+65.8%	+64.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	2,010	72	76	50	8.8	3.6	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	1,981	83	84	52	9.2	4.2	Mar 13, 2024	J-GAAP
Feb - Apr, 2024	2,132	58	63	30	5.3	2.7	Jun 13, 2024	J-GAAP
May - Jul, 2024	1,850	11	16	18	3.3	0.6	Sep 11, 2024	J-GAAP
Aug - Oct, 2024	1,870	45	50	47	8.3	2.4	Dec 11, 2024	J-GAAP
YoY	-7.0%	-37.5%	-34.2%	-6.0%	-5.6%