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f-code, First Half Net Income Increases by 88%, Apr-Jun Net Income Increases by 2.0 times

Thu Aug 14, 2025 4:00 pm JST Earnings

9211 f-code Inc. 【J-GAAP】

Earnings Report

f-code Inc. <9211> [TSE Growth] announced its financial results (based on IFRS) after the market closed on August 14th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending December 2025 (January to June) expanded 0.64 billion yen, an increase 88.3% compared to the same period last year. Progress toward the full-year plan of 1.28 billion yen was 50.3%, also surpassing progress of 37.9% from the same period of the previous year.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the July to December period (second half) is expected to grow 13.7% from the same period last year, reaching 0.63 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated net income surged 2.0 times that of the same period last year, reaching 0.32 billion yen. However, the operating profit margin decreased from 28.1% in the same period last year to 21.6%.

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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
Jan - Jun, 2023 864 224 210 137 13.6 34.8 Aug 14, 2023 IFRS
Jan - Jun, 2024 2,037 598 550 343 30.9 41.6 Aug 14, 2024 IFRS
Jan - Jun, 2025 5,212 1,177 1,093 646 52.6 53.8 Aug 14, 2025 IFRS
YoY +155.9% +96.8% +98.7% +88.3% +70.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance ー ー ー ー － 0 Feb 14, 2025 IFRS
Jan - Jun, 2025 Results 5,212 1,177 1,093 646 52.6 0 Aug 14, 2025 IFRS
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 3,093 834 772 562 48.4 0 Feb 14, 2025 IFRS
Jul - Dec, 2025 Guidance 4,788 1,023 940 639 52.3 0 Aug 14, 2025 IFRS
YoY +54.8% +22.7% +21.8% +13.7% +8.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 2,482 644 604 479 46.5 0 Feb 14, 2024 IFRS
Dec, 2024 5,130 1,432 1,322 905 77.9 0 Feb 14, 2025 IFRS
Dec, 2025 Guidance 10,000 2,200 2,033 1,285 105.3 0 Feb 14, 2025 IFRS
YoY +94.9% +53.6% +53.8% +42.0% +35.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 1,002 282 255 161 14.5 28.1 Aug 14, 2024 IFRS
Jul - Sep, 2024 1,040 347 319 203 17.8 33.4 Nov 14, 2024 IFRS
Oct - Dec, 2024 2,053 487 453 359 30.9 23.7 Feb 14, 2025 IFRS
Jan - Mar, 2025 2,416 572 540 324 26.4 23.7 May 15, 2025 IFRS
Apr - Jun, 2025 2,796 605 553 322 26.2 21.6 Aug 14, 2025 IFRS
YoY +179.0% +114.5% +116.9% +100.0% +80.7%

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