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SYSTEM RESEARCH, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 6%, Oct-Dec Ordinary Profit Increases by 13%

Fri Jan 31, 2025 3:45 pm JST Earnings

3771 SYSTEM RESEARCH CO.,LTD. 【J-GAAP】

Earnings Report

SYSTEM RESEARCH CO.,LTD. <3771> [TSE Prime] announced its financial results after the market closed on January 31st (15:45). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 6.4% from the same period last year, reaching 2.12 billion yen. However, the progress rate toward the full-year plan of 3.11 billion yen was 68.1%, almost the same as the five-year average of 67.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to grow 28.1% from the same period last year, reaching 0.99 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 12.6% from the same period last year, reaching 0.88 billion yen. However, the operating profit margin decreased from 13.1% in the same period last year to 12.7%.

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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 15,953 1,767 1,778 963 57.6 70.7 Jan 31, 2023 J-GAAP
Apr - Dec, 2023 17,240 1,965 1,993 1,474 88.2 72.0 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 19,213 2,059 2,121 1,554 93.7 68.1 Jan 31, 2025 J-GAAP
YoY +11.4% +4.8% +6.4% +5.4% +6.2%

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 12,012 1,517 1,559 1,071 64.1 40 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 14,083 1,863 1,876 1,298 78.4 60 Jan 17, 2025 J-GAAP
YoY +17.2% +22.8% +20.3% +21.2% +22.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 21,556 2,501 2,515 1,601 95.8 35 May 10, 2023 J-GAAP
Mar, 2024 23,320 2,703 2,768 1,969 117.8 40 May 8, 2024 J-GAAP
Mar, 2025 Guidance 26,718 3,084 3,114 2,198 132.7 60 Jan 17, 2025 J-GAAP
YoY +14.6% +14.1% +12.5% +11.6% +12.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 5,932 779 784 576 34.5 13.1 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 6,080 738 775 495 29.6 12.1 May 8, 2024 J-GAAP
Apr - Jun, 2024 6,190 474 489 352 21.2 7.7 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 6,445 747 749 548 33.0 11.6 Oct 28, 2024 J-GAAP
Oct - Dec, 2024 6,578 838 883 654 39.4 12.7 Jan 31, 2025 J-GAAP
YoY +10.9% +7.6% +12.6% +13.5% +14.3%

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