CROPS, Apr-Dec (Cumulative 3Q) Net Income Decreases by 62%, Oct-Dec Net Income Decreases by 33%

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Fri Feb 14, 2025 11:40 am JST Earnings

9428 CROPS CORPORATION 【J-GAAP】

Earnings Report

CROPS CORPORATION <9428> [TSE Std] announced its financial results at noon (11:40) on February 14th. The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 62.3% from the same period last year to 0.38 billion yen. The progress rate toward the full-year plan of 1.03 billion yen was 36.7%, also falling below the five-year average of 84.1%.

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 surge 3.4 times that of the same period last year, reaching 0.65 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income dropped to 0.27 billion yen, a 33.4% decrease compared to the same period last year. However, the operating profit margin improved from 4.1% in the same period last year to 4.8%.

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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	35,074	1,923	2,084	1,026	113.6	85.7	Feb 3, 2023	J-GAAP
Apr - Dec, 2023	40,110	1,654	1,882	1,011	106.9	81.3	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	45,262	1,569	1,683	381	40.3	64.8	Feb 14, 2025	J-GAAP
YoY	+12.8%	-5.1%	-10.6%	-62.3%	-62.3%

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	28,532	1,053	1,105	605	64.0	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,641	1,686	1,597	929	98.2	20	Nov 14, 2024	J-GAAP
YoY	+10.9%	+60.1%	+44.5%	+53.6%	+53.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	48,380	2,272	2,432	1,175	129.1	20	May 12, 2023	J-GAAP
Mar, 2024	54,487	2,127	2,316	1,206	127.5	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	60,852	2,481	2,599	1,037	109.7	20	Nov 14, 2024	J-GAAP
YoY	+11.7%	+16.6%	+12.2%	-14.0%	-14.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	14,155	580	671	410	43.4	4.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	14,377	473	434	195	20.6	3.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	14,013	271	371	-137	-14.6	1.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	15,198	524	631	245	26.1	3.4	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	16,051	774	681	273	28.9	4.8	Feb 14, 2025	J-GAAP
YoY	+13.4%	+33.4%	+1.5%	-33.4%	-33.4%