Internet Initiative Japan, Apr-Dec (Cumulative 3Q) Net Income Increases by 6%, Oct-Dec Net Income Increases by 36%

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Fri Feb 7, 2025 12:00 pm JST Earnings

3774 Internet Initiative Japan Inc. 【IFRS】

Earnings Report

Internet Initiative Japan Inc. <3774> [TSE Prime] announced its financial results (based on IFRS) at noon (12:00) on February 7th. The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 6.2% from the same period last year, reaching 13.7 billion yen. However, the progress rate toward the full-year plan of 20.6 billion yen was 66.9%, also falling below the five-year average of 70.3%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to nearly flat at 6.81 billion yen, down 0.6% from the same period last year.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 35.6% from the same period last year, reaching 6.31 billion yen. However, the operating profit margin decreased from 11.2% in the same period last year to 10.8%.

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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, 2022	185,339	18,790	19,018	12,854	71.1	69.6	Feb 8, 2023	IFRS
Apr - Dec, 2023	201,098	20,280	19,645	12,979	73.1	67.9	Feb 7, 2024	IFRS
Apr - Dec, 2024	229,310	20,705	20,588	13,786	77.9	67.3	Feb 7, 2025	IFRS
YoY	+14.0%	+2.1%	+4.8%	+6.2%	+6.6%

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	147,882	16,949	16,382	11,509	64.9	17.18	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	164,978	20,218	19,484	13,127	74.2	17.50	Nov 8, 2024	IFRS
YoY	+11.6%	+19.3%	+18.9%	+14.1%	+14.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	252,708	27,221	27,309	18,852	104.3	29.26	May 12, 2023	IFRS
Mar, 2024	276,080	29,029	28,934	19,831	111.8	34.36	May 10, 2024	IFRS
Mar, 2025 Guidance	312,000	32,000	30,600	20,600	116.4	35	Aug 7, 2024	IFRS
YoY	+13.0%	+10.2%	+5.8%	+3.9%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	72,900	8,200	7,093	4,657	26.2	11.2	Feb 7, 2024	IFRS
Jan - Mar, 2024	74,982	8,749	9,289	6,852	38.6	11.7	May 10, 2024	IFRS
Apr - Jun, 2024	72,016	4,482	5,039	3,322	18.8	6.2	Aug 7, 2024	IFRS
Jul - Sep, 2024	75,006	7,300	6,077	4,151	23.5	9.7	Nov 8, 2024	IFRS
Oct - Dec, 2024	82,288	8,923	9,472	6,313	35.7	10.8	Feb 7, 2025	IFRS
YoY	+12.9%	+8.8%	+33.5%	+35.6%	+36.1%