Medical Net , First Half Net Income Turns to Loss

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Tue Jan 14, 2025 3:30 pm JST Earnings

3645 Medical Net , Inc. 【J-GAAP】

Earnings Report

Medical Net , Inc. <3645> [TSE Growth] announced its financial results after the market closed on January 14th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending May 2025 (June to November) turned into a loss of 17 million yen (compared to a profit of 115 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 5 million yen

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the December to May period (2H) is expected to turn into a profit of 153 million yen (compared to a loss of 110 million yen in the same period last year).

In the most recent three-month period, from September to November (2Q), the consolidated net income significantly dropped to 18 million yen, a 80.9% decrease compared to the same period last year. The operating profit margin sharply declined from 11.8% in the same period last year to 3.2%.

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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	1,997	177	205	116	13.1	47.6	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	2,342	169	194	115	12.8	60.2	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	2,912	47	67	-17	-1.9	22.0	Jan 14, 2025	J-GAAP
YoY	+24.3%	-72.2%	-65.5%	－	－

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	3,088	80	67	-5	-0.6	0	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	2,912	47	67	-17	-1.9	－	Jan 14, 2025	J-GAAP
Revision Rate	-5.7%	-41.3%	0.0%	-240.0%	-243.6%

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	2,910	129	128	-110	-14.5	3	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	3,488	283	238	153	17.5	3	Jan 14, 2025	J-GAAP
YoY	+19.9%	+119.4%	+85.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	4,500	379	431	116	13.0	2.50	Jul 18, 2023	J-GAAP
May, 2024	5,252	298	322	5	0.7	3	Jul 12, 2024	J-GAAP
May, 2025 Guidance	6,400	330	305	136	15.6	3	Jul 12, 2024	J-GAAP
YoY	+21.9%	+10.7%	-5.3%	+2,620.0%	+2,260.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	1,243	147	150	94	10.5	11.8	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,313	62	57	-69	-7.7	4.7	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,597	67	71	-41	-5.4	4.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	1,358	-3	-3	-35	-3.9	-0.2	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	1,554	50	70	18	2.0	3.2	Jan 14, 2025	J-GAAP
YoY	+25.0%	-66.0%	-53.3%	-80.9%	-80.9%