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Ichigo, Mar-Nov (Cumulative 3Q) Ordinary Profit Increases by 48%, Sep-Nov Ordinary Profit Increases by 77%

Thu Jan 9, 2025 3:30 pm JST Earnings

2337 Ichigo Inc. 【J-GAAP】

Earnings Report

Ichigo Inc. <2337> [TSE Prime] announced its financial results after the market closed on January 9th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) expanded 8.58 billion yen, an increase 48.0% compared to the same period last year. However, the progress rate toward the full-year plan of 12 billion yen was 71.6%, almost the same as the five-year average of 70.8%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to February period (4Q) is expected to decrease 25.6% from the same period last year to 3.41 billion yen.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit increased 76.7% from the same period last year, reaching 3.03 billion yen. However, the operating profit margin decreased from 20.5% in the same period last year to 16.6%.

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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
Mar - Nov, 2022 52,797 9,111 8,000 8,470 18.3 73.7 Jan 12, 2023 J-GAAP
Mar - Nov, 2023 38,419 7,927 5,803 9,590 21.2 55.8 Jan 11, 2024 J-GAAP
Mar - Nov, 2024 57,227 10,338 8,586 8,896 20.3 71.6 Jan 9, 2025 J-GAAP
YoY +49.0% +30.4% +48.0% -7.2% -4.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 56,251 7,477 6,304 3,605 8.0 9 Apr 15, 2024 J-GAAP
Sep - Feb, 2024 Guidance ー 9,145 6,446 8,635 20.2 10 Oct 10, 2024 J-GAAP
YoY － +22.3% +2.3% +139.5% +151.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 68,093 12,492 10,848 9,409 20.5 8 Apr 19, 2023 J-GAAP
Feb, 2024 82,747 12,960 10,391 12,108 26.9 9 Apr 15, 2024 J-GAAP
Feb, 2025 Guidance ー 16,000 12,000 14,000 32.7 10 Apr 15, 2024 J-GAAP
YoY － +23.5% +15.5% +15.6% +21.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2023 11,923 2,444 1,716 1,087 2.4 20.5 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 44,328 5,033 4,588 2,518 5.6 11.4 Apr 15, 2024 J-GAAP
Mar - May, 2024 25,096 4,221 3,716 3,591 8.2 16.8 Jul 11, 2024 J-GAAP
Jun - Aug, 2024 11,199 2,634 1,838 1,774 4.1 23.5 Oct 10, 2024 J-GAAP
Sep - Nov, 2024 20,932 3,483 3,032 3,531 8.1 16.6 Jan 9, 2025 J-GAAP
YoY +75.6% +42.5% +76.7% +224.8% +236.3%

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