CORREC, Mar-Nov (Cumulative 3Q) Ordinary Profit Increases by 85%, Sep-Nov Ordinary Profit Turns to Profit

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Tue Jan 14, 2025 3:30 pm JST Earnings

6578 CORREC HOLDINGS Inc. 【J-GAAP】

Earnings Report

CORREC HOLDINGS Inc. <6578> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) expanded 100 million yen, an increase 85.2% compared to the same period last year. However, the progress rate toward the full-year plan of 156 million yen was 64.1%, also falling below the five-year average of 71.6%.

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 11.1% from the same period last year to 56 million yen.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit/loss turned to a profit of 138 million yen (compared to a loss of 17 million yen in the same period last year). The operating profit/loss margin drastically improved from -1.8% in the same period last year to 7.4%.

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
Mar - Nov, 2022	3,201	208	209	85	11.7	77.4	Jan 13, 2023	J-GAAP
Mar - Nov, 2023	2,794	55	54	39	5.4	46.2	Jan 12, 2024	J-GAAP
Mar - Nov, 2024	4,517	96	100	108	14.8	64.1	Jan 14, 2025	J-GAAP
YoY	+61.7%	+74.5%	+85.2%	+176.9%	+172.7%

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	2,092	47	46	48	6.6	7	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	3,609	202	194	169	23.1	8	Oct 11, 2024	J-GAAP
YoY	+72.5%	+329.8%	+321.7%	+252.1%	+247.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	4,118	269	270	201	27.6	0	Apr 13, 2023	J-GAAP
Feb, 2024	3,938	119	117	88	12.2	7	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	6,265	160	156	124	16.9	8	Apr 12, 2024	J-GAAP
YoY	+59.1%	+34.5%	+33.3%	+40.9%	+39.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	948	-17	-17	-1	-0.1	-1.8	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,144	64	63	49	6.8	5.6	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,006	-62	-61	-65	－	-6.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	1,650	20	23	20	2.7	1.2	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	1,861	138	138	153	20.9	7.4	Jan 14, 2025	J-GAAP
YoY	+96.3%	－	－	－	－