I-NET CORP, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 15% Decrease

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Fri Jan 31, 2025 3:30 pm JST Earnings

9600 I-NET CORP. 【J-GAAP】

Earnings Report

I-NET CORP. <9600> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 26.8% from the same period last year to 1.67 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 22.5%, from the previous forecast of 3.22 billion yen to 2.5 billion yen (compared to 2.93 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.8% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 32.9%, from the previous forecast of 2.2 billion yen to 1.48 billion yen (compared to 1.33 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 65.3% to 10.9%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.65 billion yen, a 4.9% decrease compared to the same period last year. The operating profit margin worsened from 7.1% in the same period last year to 6.4%.

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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, 2022	25,520	1,352	1,386	850	53.2	63.7	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	28,213	2,233	2,291	1,501	93.9	78.1	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	28,684	1,648	1,676	1,440	93.6	67.0	Jan 31, 2025	J-GAAP
YoY	+1.7%	-26.2%	-26.8%	-4.1%	-0.3%

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	21,545	2,225	2,205	1,620	106.2	28	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	20,625	1,475	1,480	1,195	78.3	28	Jan 31, 2025	J-GAAP
Revision Rate	-4.3%	-33.7%	-32.9%	-26.2%	-26.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	40,420	3,250	3,225	2,625	172.0	56	May 9, 2024	J-GAAP
Mar, 2025 New	39,500	2,500	2,500	2,200	144.2	56	Jan 31, 2025	J-GAAP
Revision Rate	-2.3%	-23.1%	-22.5%	-16.2%	-16.2%

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	18,784	1,312	1,334	1,156	72.4	27	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,625	1,475	1,480	1,195	78.3	28	Jan 31, 2025	J-GAAP
YoY	+9.8%	+12.4%	+10.9%	+3.4%	+8.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	34,988	2,129	2,175	1,343	84.1	48	May 9, 2023	J-GAAP
Mar, 2024	37,763	2,887	2,935	2,197	137.5	53	May 9, 2024	J-GAAP
Mar, 2025 Guidance	39,500	2,500	2,500	2,200	144.2	56	Jan 31, 2025	J-GAAP
YoY	+4.6%	-13.4%	-14.8%	+0.1%	+4.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	9,234	658	690	460	28.8	7.1	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	9,550	654	644	696	43.6	6.8	May 9, 2024	J-GAAP
Apr - Jun, 2024	8,926	221	264	76	4.9	2.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	9,949	804	756	929	60.2	8.1	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	9,809	623	656	435	28.3	6.4	Jan 31, 2025	J-GAAP
YoY	+6.2%	-5.3%	-4.9%	-5.4%	-1.7%