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System D, First Half Ordinary Profit Increases by 27%

Mon Jun 16, 2025 3:30 pm JST Earnings

3804 System D Inc. 【J-GAAP】

Earnings Report

System D Inc. <3804> [TSE Std] announced its financial results after the market closed on June 16th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending October 2025 (November 2024 to April 2025) increased 27.5% from the same period last year, reaching 654 million yen, exceeded the previous forecast of 525 million yen.

Progress toward the full-year plan of 931 million yen was 70.2%, also surpassing the five-year average of 67.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the May to October period (second half) is expected to decrease 12.6% from the same period last year to 277 million yen.

In the most recent three-month period, from February to April (2Q), the consolidated ordinary profit grew 27.6% from the same period last year, reaching 508 million yen. The operating profit margin rose from 27.2% in the same period last year to 28.4%.

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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 2,428 551 551 376 58.8 60.2 Jun 12, 2023 J-GAAP
Nov - Apr, 2023 2,386 512 513 342 53.5 61.8 Jun 10, 2024 J-GAAP
Nov - Apr, 2024 2,798 652 654 446 69.6 70.2 Jun 16, 2025 J-GAAP
YoY +17.3% +27.3% +27.5% +30.4% +30.2%

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 2,631 525 525 362 56.4 0 Dec 16, 2024 J-GAAP
Nov - Apr, 2024 Results 2,798 652 654 446 69.6 － Jun 16, 2025 J-GAAP
Revision Rate +6.3% +24.2% +24.6% +23.2% +23.4%

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 2,245 316 317 213 33.3 24 Dec 16, 2024 J-GAAP
May - Oct, 2025 Guidance 2,226 280 277 181 28.2 27 Jun 16, 2025 J-GAAP
YoY -0.8% -11.4% -12.6% -15.0% -15.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct, 2023 4,736 913 915 632 98.8 23 Dec 11, 2023 J-GAAP
Oct, 2024 4,631 828 830 555 86.8 24 Dec 16, 2024 J-GAAP
Oct, 2025 Guidance 5,024 932 931 627 97.8 27 Dec 16, 2024 J-GAAP
YoY +8.5% +12.6% +12.2% +13.0% +12.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Feb - Apr, 2024 1,465 398 398 274 42.9 27.2 Jun 10, 2024 J-GAAP
May - Jul, 2024 892 7 6 2 0.3 0.8 Sep 17, 2024 J-GAAP
Aug - Oct, 2024 1,353 309 311 211 33.0 22.8 Dec 16, 2024 J-GAAP
Nov - Jan, 2024 1,003 143 146 97 15.2 14.3 Mar 17, 2025 J-GAAP
Feb - Apr, 2025 1,795 509 508 349 54.5 28.4 Jun 16, 2025 J-GAAP
YoY +22.5% +27.9% +27.6% +27.4% +27.1%

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