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FRIENDLY CORPORATION, The Current Fiscal Year Net Income Revised Downward to a Loss

Fri Nov 8, 2024 3:00 pm JST Earnings

8209 FRIENDLY CORPORATION 【J-GAAP】

Earnings Report

FRIENDLY CORPORATION <8209> [TSE-S] announced its financial results in the afternoon session on November 8th (15:00). The net income/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 28 million yen (compared to a profit of 18 million yen in the same period last year), reversing from the forecast of a 10 million yen to a loss.

In addition, the full-year net income/loss has been revised downward from an expected profit of 40 million yen to a loss of 9 million yen (compared to a loss of 6 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net income/loss for the October to March period (second half) is expected to turn into a profit of 19 million yen (compared to a loss of 24 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the net income/loss turned to a loss of 23 million yen (compared to a profit of 2 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.7% in the same period last year to -3.0%.

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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 1,020 -99 -88 -89 -38.5 ー Nov 11, 2022 J-GAAP
Apr - Sep, 2023 1,070 20 27 18 -0.7 245.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 1,038 -21 -15 -28 -16.9 ー Nov 8, 2024 J-GAAP
YoY -3.0% － － － -2,504.6%

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 1,100 10 20 10 3.5 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 1,038 -21 -15 -28 -16.9 0 Nov 8, 2024 J-GAAP
Revision Rate -5.6% － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 2,240 40 50 40 14.0 0 May 10, 2024 J-GAAP
Mar, 2025 New 2,157 -1 10 -9 -3.2 0 Nov 8, 2024 J-GAAP
Revision Rate -3.7% － -80.0% － －

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 997 -23 -16 -24 -65.1 0 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,119 20 25 19 6.7 0 Nov 8, 2024 J-GAAP
YoY +12.2% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,044 -157 -141 -107 -51.9 0 May 12, 2023 J-GAAP
Mar, 2024 2,067 -3 11 -6 -16.3 0 May 10, 2024 J-GAAP
Mar, 2025 Guidance 2,157 -1 10 -9 -3.2 0 Nov 8, 2024 J-GAAP
YoY +4.4% +66.7% -9.1% -50.0% +80.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 537 4 7 2 -3.0 0.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 502 -28 -24 -28 -39.6 -5.6 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 495 5 8 4 10.9 1.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 510 -5 -2 -5 -5.6 -1.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 528 -16 -13 -23 -13.9 -3.0 Nov 8, 2024 J-GAAP
YoY -1.7% － － － -362.1%

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