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Adways Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 52%, Dividend Revised down by 0.57 yen

Thu Oct 31, 2024 3:00 pm JST Earnings

2489 Adways Inc. 【J-GAAP】

Earnings Report

Adways Inc. <2489> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 62.2% from the same period last year to 343 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 51.5%, from the previous forecast of 1 billion yen to 485 million yen (compared to 1.31 billion yen in the previous period), leading to an increase in the profit decline rate from 23.8% to 63.1%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 69.3%, from the previous forecast of 743 million yen to 228 million yen (compared to 510 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 55.3% decrease in profit.

Due to a decline in performance, the company has reduced its planned year-end lump-sum dividend for the current fiscal year from the original plan of 3.57 yen to 3 yen (compared to 5.77 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 86 million yen, a 17.3% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 0.8% in the same period last year to 0.8%.

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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
Jan - Sep, 2022 9,947 1,189 1,013 1,409 35.2 67.3 Nov 2, 2022 J-GAAP
Jan - Sep, 2023 10,121 656 907 669 17.5 69.1 Oct 31, 2023 J-GAAP
Jan - Sep, 2024 9,442 78 343 210 5.4 70.7 Oct 31, 2024 J-GAAP
YoY -6.7% -88.1% -62.2% -68.6% -69.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 7,807 717 743 402 10.3 3.57 Jul 31, 2024 J-GAAP
Jul - Dec, 2024 New 6,107 87 228 42 1.1 3 Oct 31, 2024 J-GAAP
Revision Rate -21.8% -87.9% -69.3% -89.6% -89.6%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 14,200 770 1,000 580 14.8 3.57 Feb 9, 2024 J-GAAP
Dec, 2024 New 12,500 140 485 220 5.6 3 Oct 31, 2024 J-GAAP
Revision Rate -12.0% -81.8% -51.5% -62.1% -62.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 6,681 292 510 276 7.2 5.77 Feb 9, 2024 J-GAAP
Jul - Dec, 2024 Guidance 6,107 87 228 42 1.1 3 Oct 31, 2024 J-GAAP
YoY -8.6% -70.2% -55.3% -84.8% -85.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 13,415 1,671 1,506 2,536 63.5 14.10 Feb 10, 2023 J-GAAP
Dec, 2023 13,524 921 1,313 966 25.1 5.77 Feb 9, 2024 J-GAAP
Dec, 2024 Guidance 12,500 140 485 220 5.6 3 Oct 31, 2024 J-GAAP
YoY -7.6% -84.8% -63.1% -77.2% -77.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,278 27 104 -21 -0.6 0.8 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 3,403 265 406 297 7.7 7.8 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 3,298 194 323 310 8.0 5.9 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 3,095 -141 -66 -132 -3.4 -4.6 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 3,049 25 86 32 0.8 0.8 Oct 31, 2024 J-GAAP
YoY -7.0% -7.4% -17.3% － －

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