EMNET JAPAN sharply revised down its ordinary profit forecast for the current fiscal year, from the previous forecast of ¥185 million to ¥34 million. Ordinary profit for the 3Q cumulative period was ¥56 million, a substantial decrease from the same period of the previous year.
According to the financial results announced on 11 November, full-year ordinary profit for the current fiscal year is ¥34 million, down 81.6% from the previous forecast, while the year-end dividend remains undecided. Ordinary profit for the 3Q cumulative period (January-September) was ¥56 million, down 56.6% year on year.
Following the downward revision, the second-half plan for the current fiscal year now forecasts an ordinary loss for July-December, compared with the previous outlook for a profit, marking an expected shift to a loss from a profit in the same period of the previous year. The latest three-month results showed a loss in the July-September quarter, with revenue of ¥971 million and the ordinary profit margin on revenue deteriorating to -6.0%.
The year-end lump-sum dividend remains undecided, and the company is expected to present its dividend policy again depending on future earnings trends.