Pacific Net, First Half Ordinary Profit Increases by 13%

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Tue Jan 14, 2025 3:30 pm JST Earnings

3021 Pacific Net Co.,Ltd 【J-GAAP】

Earnings Report

Pacific Net Co.,Ltd <3021> [TSE Std] 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) increased 13.3% from the same period last year, reaching 290 million yen. However, the progress rate toward the full-year plan of 735 million yen was 39.5%, also falling below the five-year average of 44.6%.

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 grow 17.1% from the same period last year, reaching 445 million yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit amounted to 163 million yen, an increase of 2.5% compared to the same period last year. However, the operating profit margin worsened from 9.2% in the same period last year to 8.8%.

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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	3,148	165	162	100	19.7	31.3	Jan 16, 2023	J-GAAP
Jun - Nov, 2023	3,232	260	256	167	32.3	40.3	Jan 15, 2024	J-GAAP
Jun - Nov, 2024	3,791	315	290	193	36.9	39.5	Jan 14, 2025	J-GAAP
YoY	+17.3%	+21.2%	+13.3%	+15.6%	+14.3%

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	－	0	Jul 16, 2024	J-GAAP
Jun - Nov, 2024 Results	3,791	315	290	193	36.9	0	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	3,689	398	380	265	50.8	41	Jul 16, 2024	J-GAAP
Dec - May, 2024 Guidance	4,009	455	445	284	54.0	47	Jan 14, 2025	J-GAAP
YoY	+8.7%	+14.3%	+17.1%	+7.2%	+6.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	6,404	529	518	336	65.6	40	Jul 14, 2023	J-GAAP
May, 2024	6,921	658	636	432	82.8	41	Jul 16, 2024	J-GAAP
May, 2025 Guidance	7,800	770	735	477	90.8	47	Jul 16, 2024	J-GAAP
YoY	+12.7%	+17.0%	+15.6%	+10.4%	+9.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	1,695	156	159	106	20.5	9.2	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	1,703	143	133	89	17.2	8.4	Apr 15, 2024	J-GAAP
Mar - May, 2024	1,986	255	247	176	33.7	12.8	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	1,811	141	127	85	16.2	7.8	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	1,980	174	163	108	20.6	8.8	Jan 14, 2025	J-GAAP
YoY	+16.8%	+11.5%	+2.5%	+1.9%	+0.7%