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I-NET CORP., First Half Ordinary Profit Decreases by 36%, July-September Ordinary Profit Decreases by 16%

Thu Oct 31, 2024 3:00 pm JST Earnings

9600 I-NET CORP. 【J-GAAP】

Earnings Report

I-NET CORP. <9600> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.3% from the same period last year to 1.02 billion yen. The progress rate against the 3.22 billion yen full-year plan was 31.6%, also falling below the five-year average of 46.8%.

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 65.3% from the same period last year, reaching 2.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 756 million yen, a 15.9% decrease compared to the same period last year. The operating profit margin worsened from 9.4% in the same period last year to 8.1%.

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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 16,808 1,059 1,074 648 40.6 49.4 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 18,979 1,575 1,601 1,041 65.2 54.5 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 18,875 1,025 1,020 1,005 65.1 31.6 Oct 31, 2024 J-GAAP
YoY -0.5% -34.9% -36.3% -3.5% -0.1%

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 ー ー ー ー － 28 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 18,875 1,025 1,020 1,005 65.1 28 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

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 18,784 1,312 1,334 1,156 72.4 27 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 21,545 2,225 2,205 1,620 106.2 28 Oct 31, 2024 J-GAAP
YoY +14.7% +69.6% +65.3% +40.1% +46.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 34,988 2,129 2,175 1,343 84.1 48 May 9, 2023 J-GAAP
Mar, 2024 37,763 2,887 2,935 2,197 137.5 53 May 9, 2024 J-GAAP
Mar, 2025 Guidance 40,420 3,250 3,225 2,625 172.0 56 May 9, 2024 J-GAAP
YoY +7.0% +12.6% +9.9% +19.5% +25.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,795 918 899 603 37.8 9.4 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 9,234 658 690 460 28.8 7.1 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 9,550 654 644 696 43.6 6.8 May 9, 2024 J-GAAP
Apr - Jun, 2024 8,926 221 264 76 4.9 2.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 9,949 804 756 929 60.2 8.1 Oct 31, 2024 J-GAAP
YoY +1.6% -12.4% -15.9% +54.1% +59.4%

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