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CellSource, First Half Ordinary Profit Decreases by 95%, Feb-Apr Ordinary Profit Decreases by 57%

Thu Jun 12, 2025 3:30 pm JST Earnings

4880 CellSource Co., Ltd. 【J-GAAP】

Earnings Report

CellSource Co., Ltd. <4880> [TSE Prime] announced its financial results after the market closed on June 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending October 2025 (November 2024 to April 2025) significantly dropped 95.4% from the previous period non-consolidated to 18 million yen. Progress toward the full-year plan of 372 million yen was 4.8%, also falling below the five-year average of 67.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the May to October period (second half) is expected to turn into a profit of 354 million yen (compared to a loss of 152 million yen in the previous period non-consolidated).

In the most recent three-month period, from February to April (2Q), the consolidated ordinary profit significantly dropped to 78 million yen, a 56.7% decrease compared to the same period last year. However, the operating profit margin improved from 7.2% in the same period last year to 8.1%.

Note: Since the current fiscal year, the company has transitioned to consolidated financial statements.

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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
Nov - Apr, 2022 2,170 659 650 410 21.9 54.4 Jun 14, 2023 J-GAAP
Nov - Apr, 2023 2,227 281 388 299 15.2 164.4 Jun 13, 2024 J-GAAP
Nov - Apr, 2024 1,820 17 18 11 0.6 4.8 Jun 12, 2025 J-GAAP
YoY -18.3% -94.0% -95.4% -96.3% -96.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov - Apr, 2024 Guidance ー ー ー ー － 0 Dec 12, 2024 J-GAAP
Nov - Apr, 2024 Results 1,820 17 18 11 0.6 0 Jun 12, 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
May - Oct, 2024 2,128 -152 -152 -62 -3.1 5 Dec 12, 2024 J-GAAP
May - Oct, 2025 Guidance 2,681 353 354 244 12.3 5 Jun 12, 2025 J-GAAP
YoY +26.0% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct, 2023 4,510 1,221 1,194 923 48.9 20 Dec 15, 2023 J-GAAP
Oct, 2024 4,355 129 236 237 12.0 5 Dec 12, 2024 J-GAAP
Oct, 2025 Guidance 4,501 370 372 255 12.9 5 Dec 12, 2024 J-GAAP
YoY +3.4% +186.8% +57.6% +7.6% +7.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Feb - Apr, 2024 1,054 76 180 156 7.9 7.2 Jun 13, 2024 J-GAAP
May - Jul, 2024 1,114 107 107 75 3.8 9.6 Sep 12, 2024 J-GAAP
Aug - Oct, 2024 1,014 -259 -259 -137 -7.0 -25.5 Dec 12, 2024 J-GAAP
Nov - Jan, 2024 849 -62 -60 -45 -2.3 -7.3 Mar 11, 2025 J-GAAP
Feb - Apr, 2025 971 79 78 56 2.9 8.1 Jun 12, 2025 J-GAAP
YoY -7.9% +3.9% -56.7% -64.1% -63.9%

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