BlueMeme, listed on the TSE Growth market, disclosed that it expects to fall into a ¥400 million loss this fiscal year, despite reporting a profit for the previous fiscal year. The loss widened in the latest three months, with net income for the January-March quarter at a ¥50 million loss.
BlueMeme announced its earnings after the market close on 30 September, forecasting consolidated net income of a ¥400 million loss this fiscal year, compared with a ¥24 million profit in the previous fiscal year. Although the company was profitable in the previous fiscal year, the deterioration in sales and earnings has been cited as a factor behind the shift to an expected loss this fiscal year.
In the previous fiscal year, revenue was approximately ¥2.465 billion, operating profit was approximately ¥200 million, ordinary profit was approximately ¥249 million, and net income was a profit of approximately ¥17 million. By contrast, the revised outlook for this fiscal year calls for net income to fall into the red.
In the latest fourth quarter, covering January-March, the company fell into a ¥50 million net loss. The operating margin deteriorated substantially from the profit margin recorded in the same period of the previous year, falling to -8.3%.
Compared with the previous fiscal year, little improvement is expected in the individual indicators under the current-year forecast, while net income and revised EPS are expected to swing sharply toward losses.