ALPHA Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 50%

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Fri Nov 8, 2024 3:30 pm JST Earnings

3434 ALPHA Corporation 【J-GAAP】

Earnings Report

ALPHA Corporation <3434> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 67.1% from the same period last year to 486 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 50.0%, from the previous forecast of 2.4 billion yen to 1.2 billion yen (compared to 3.08 billion yen in the previous period), leading to an increase in the profit decline rate from 22.3% to 61.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 55.7% from the same period last year to 714 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 70 million yen (compared to a profit of 786 million yen in the same period last year). The operating profit margin worsened from 2.1% in the same period last year to 0.3%.

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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
Apr - Sep, 2022	28,825	-295	380	217	22.7	28.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	36,363	792	1,475	1,216	127.0	47.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	36,606	222	486	317	33.2	40.5	Nov 8, 2024	J-GAAP
YoY	+0.7%	-72.0%	-67.1%	-73.9%	-73.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	20	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	36,606	222	486	317	33.2	20	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	75,000	2,500	2,400	1,800	187.6	50	May 10, 2024	J-GAAP
Mar, 2025 New	73,000	1,000	1,200	800	83.4	50	Nov 8, 2024	J-GAAP
Revision Rate	-2.7%	-60.0%	-50.0%	-55.6%	-55.6%

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	38,181	1,646	1,613	586	61.2	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	36,394	778	714	483	50.3	30	Nov 8, 2024	J-GAAP
YoY	-4.7%	-52.7%	-55.7%	-17.6%	-17.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	62,882	601	1,348	524	54.7	30	May 11, 2023	J-GAAP
Mar, 2024	74,544	2,438	3,088	1,802	188.2	45	May 10, 2024	J-GAAP
Mar, 2025 Guidance	73,000	1,000	1,200	800	83.4	50	Nov 8, 2024	J-GAAP
YoY	-2.1%	-59.0%	-61.1%	-55.6%	-55.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,254	389	786	681	71.1	2.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	18,159	885	956	395	41.2	4.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	20,022	761	657	191	19.9	3.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	18,231	165	556	459	48.0	0.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	18,375	57	-70	-142	-14.9	0.3	Nov 8, 2024	J-GAAP
YoY	+0.7%	-85.3%	－	－	－