CUC, The Current Fiscal Year Net Income Revised Upward to an Unexpected 12% Increase, Highest in Three Terms

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Wed Jan 29, 2025 3:30 pm JST Earnings

9158 CUC Inc. 【IFRS】

Earnings Report

CUC Inc. <9158> [TSE Growth] announced its financial results (based on IFRS) after the market closed on January 29th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 2.77 billion yen, an increase 84.7% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward 31.8%, from the previous forecast of 2.2 billion yen to 2.9 billion yen (compared to 2.59 billion yen in the previous period), reaches new record high for the first time in three terms, turning to a 11.8% increase in the consolidated net income outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) has been revised upward 4.7 times, from the previous forecast of 0.19 billion yen to 0.89 billion yen (compared to 1.55 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 87.7% to 42.7%.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 65.1% from the same period last year, reaching 0.76 billion yen. The operating profit margin rose from 10.5% in the same period last year to 11.8%.

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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
Apr - Dec, 2023	23,368	2,620	2,431	1,500	55.5	58.7	Jan 29, 2024	IFRS
Apr - Dec, 2024	34,562	4,576	4,536	2,770	94.5	92.6	Jan 29, 2025	IFRS
YoY	+47.9%	+74.7%	+86.6%	+84.7%	+70.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	21,289	953	420	191	6.5	0	Oct 28, 2024	IFRS
Oct - Mar, 2024 New	25,189	1,953	1,720	891	30.4	0	Jan 29, 2025	IFRS
Revision Rate	+18.3%	+104.9%	+309.5%	+366.5%	+366.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	42,900	4,000	3,600	2,200	75.1	0	Apr 24, 2024	IFRS
Mar, 2025 New	46,800	5,000	4,900	2,900	98.9	0	Jan 29, 2025	IFRS
Revision Rate	+9.1%	+25.0%	+36.1%	+31.8%	+31.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	17,679	1,959	2,458	1,556	56.4	0	Apr 24, 2024	IFRS
Oct - Mar, 2024 Guidance	25,189	1,953	1,720	891	30.4	0	Jan 29, 2025	IFRS
YoY	+42.5%	-0.3%	-30.0%	-42.7%	-46.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	33,025	3,737	4,138	2,595	94.0	0	Apr 24, 2024	IFRS
Mar, 2025 Guidance	46,800	5,000	4,900	2,900	98.9	0	Jan 29, 2025	IFRS
YoY	+41.7%	+33.8%	+18.4%	+11.8%	+5.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	8,022	842	751	461	17.0	10.5	Jan 29, 2024	IFRS
Jan - Mar, 2024	9,657	1,117	1,707	1,095	39.7	11.6	Apr 24, 2024	IFRS
Apr - Jun, 2024	10,597	1,341	1,586	966	32.9	12.7	Jul 24, 2024	IFRS
Jul - Sep, 2024	11,014	1,706	1,594	1,043	35.6	15.5	Oct 28, 2024	IFRS
Oct - Dec, 2024	12,951	1,529	1,356	761	26.0	11.8	Jan 29, 2025	IFRS
YoY	+61.4%	+81.6%	+80.6%	+65.1%	+52.3%