Enjin, First Half Ordinary Profit Decreases by 26%

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Tue Jan 14, 2025 3:30 pm JST Earnings

7370 Enjin Co.,Ltd. 【J-GAAP】

Earnings Report

Enjin Co.,Ltd. <7370> [TSE Growth] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) decreased 25.5% from the same period last year to 408 million yen. However, the progress rate toward the full-year plan of 548 million yen was 74.5%, also surpassing the five-year average of 46.2%.

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 December to May period (2H) is expected to significant drop 73.6% from the same period last year to 140 million yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 250 million yen, a 14.4% decrease compared to the same period last year. The operating profit margin decreased from 34.4% in the same period last year to 33.5%.

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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
Jun - Nov, 2022	1,618	567	574	388	52.6	43.7	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	1,680	525	548	369	50.9	50.8	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	1,402	404	408	223	31.9	74.5	Jan 14, 2025	J-GAAP
YoY	-16.5%	-23.0%	-25.5%	-39.6%	-37.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	ー	ー	ー	ー	－	13	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	1,402	404	408	223	31.9	13	Jan 14, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	1,587	520	530	380	53.3	23.80	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	1,299	144	140	157	22.3	23.80	Jan 14, 2025	J-GAAP
YoY	-18.1%	-72.3%	-73.6%	-58.7%	-58.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	3,481	1,303	1,313	879	119.5	35.80	Jul 14, 2023	J-GAAP
May, 2024	3,267	1,045	1,078	749	105.1	36.80	Jul 12, 2024	J-GAAP
May, 2025 Guidance	2,701	548	548	380	54.0	36.80	Jul 12, 2024	J-GAAP
YoY	-17.3%	-47.6%	-49.2%	-49.3%	-48.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	831	286	292	191	26.3	34.4	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	675	195	202	142	19.8	28.9	Apr 12, 2024	J-GAAP
Mar - May, 2024	912	325	328	238	33.4	35.6	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	655	154	158	80	11.6	23.5	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	747	250	250	143	20.4	33.5	Jan 14, 2025	J-GAAP
YoY	-10.1%	-12.6%	-14.4%	-25.1%	-22.4%