ECOMIC CO.,LTD, First Half Ordinary Profit Loss Widens

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Fri Nov 8, 2024 5:00 pm JST Earnings

3802 ECOMIC CO.,LTD 【J-GAAP】

Earnings Report

ECOMIC CO.,LTD <3802> [TSE-S] announced its financial results after the market closed on November 8th (17:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 220 million yen (compared to a loss of 145 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 177 million yen.

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 October to March period (second half) is expected to expand by 37.2% from the same period last year, reaching 450 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 142 million yen (compared to a loss of 108 million yen in the same period last year). The operating profit/loss margin drastically worsened from -35.1% in the same period last year to -49.7%.

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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	677	-151	-148	-104	-27.4	ー	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	670	-161	-145	-120	-31.5	ー	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	616	-230	-220	-174	-37.2	ー	Nov 8, 2024	J-GAAP
YoY	-8.1%	-42.9%	-51.7%	-45.0%	-18.2%

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	669	-180	-177	-127	-27.1	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	616	-230	-220	-174	-37.2	0	Nov 8, 2024	J-GAAP
Revision Rate	-7.9%	-27.8%	-24.3%	-37.0%	-37.5%

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	1,486	333	328	247	64.0	12	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,684	455	450	336	71.6	12	Nov 8, 2024	J-GAAP
YoY	+13.3%	+36.6%	+37.2%	+36.0%	+11.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,216	203	220	170	44.7	8	May 10, 2023	J-GAAP
Mar, 2024	2,156	172	183	127	32.9	12	May 10, 2024	J-GAAP
Mar, 2025 Guidance	2,300	225	230	162	34.5	12	May 10, 2024	J-GAAP
YoY	+6.7%	+30.8%	+25.7%	+27.6%	+4.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	316	-111	-108	-88	-23.1	-35.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	1,073	338	339	255	66.9	31.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	413	-5	-11	-8	-2.1	-1.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	330	-88	-78	-61	-13.1	-26.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	286	-142	-142	-113	-24.2	-49.7	Nov 8, 2024	J-GAAP
YoY	-9.5%	-27.9%	-31.5%	-28.4%	-4.7%