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Future Innovation Group, Inc., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 53% Decrease

Thu Nov 14, 2024 3:30 pm JST Earnings

4392 Future Innovation Group, Inc. 【J-GAAP】

Earnings Report

Future Innovation Group, Inc. <4392> [TSE-P] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 49.2% from the same period last year to 298 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 69.2%, from the previous forecast of 1.09 billion yen to 336 million yen (compared to 715 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 53.0% decrease in profit.

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 91.7%, from the previous forecast of 824 million yen to 68 million yen (compared to 237 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 71.3% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 30 million yen, a 72.5% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 1.6%.

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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 9,564 821 799 534 18.2 82.9 Nov 11, 2022 J-GAAP
Jan - Sep, 2023 10,273 586 587 412 13.7 82.1 Nov 14, 2023 J-GAAP
Jan - Sep, 2024 8,805 317 298 295 9.8 88.7 Nov 14, 2024 J-GAAP
YoY -14.3% -45.9% -49.2% -28.4% -28.5%

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 9,138 853 824 705 23.3 5 Jul 23, 2024 J-GAAP
Jul - Dec, 2024 New 6,138 90 68 -20 -0.7 5 Nov 14, 2024 J-GAAP
Revision Rate -32.8% -89.4% -91.7% － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 15,000 1,123 1,092 1,000 33.1 5 Feb 14, 2024 J-GAAP
Dec, 2024 New 12,000 360 336 275 9.1 5 Nov 14, 2024 J-GAAP
Revision Rate -20.0% -67.9% -69.2% -72.5% -72.5%

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 6,530 254 237 -132 -4.4 5 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 6,138 90 68 -20 -0.7 5 Nov 14, 2024 J-GAAP
YoY -6.0% -64.6% -71.3% +84.8% +84.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 12,914 932 964 685 23.4 10 Feb 9, 2023 J-GAAP
Dec, 2023 13,534 723 715 210 7.0 5 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 12,000 360 336 275 9.1 5 Nov 14, 2024 J-GAAP
YoY -11.3% -50.2% -53.0% +31.0% +30.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,269 117 109 70 2.3 3.6 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 3,261 137 128 -202 -6.7 4.2 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 3,058 171 171 272 9.0 5.6 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,804 99 97 23 0.8 3.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,943 47 30 0 0.0 1.6 Nov 14, 2024 J-GAAP
YoY -10.0% -59.8% -72.5% － -99.6%

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