Crops Corporation (9428) Q4 2024 earnings summary

Executive summary

• FY23 consolidated revenue reached a record ¥54,487 million, up 12.6% YoY; operating income fell 6.4% to ¥2,127 million, while net income rose 2.6% to ¥1,206 million.

• Revenue exceeded plan by 5.0%, while operating income was 3.4% below plan; net income was 17.4% above plan.

Financial highlights

• FY23 revenue was ¥54,487 million; operating income ¥2,127 million; ordinary income ¥2,316 million; and net income attributable to owners of parent ¥1,206 million.

• Mobile communications revenue increased 20.9% YoY to ¥23,355 million; segment operating income decreased 16.4% to ¥455 million.

• FY23 consolidated and standalone revenue both set new records.

Outlook and guidance

• FY24 revenue guidance is ¥61,035 million, up 12.0%; operating income ¥2,159 million, up 1.5%.

• FY24 ordinary income is projected at ¥2,291 million, down 1.1%; net income attributable to owners of parent at ¥1,167 million, down 3.2%.

• FY24 segment operating income is planned to rise ¥32 million YoY; mobile communications is expected to increase ¥71 million to ¥526 million.

• Guidance depends on current information and assumptions; actual results may differ materially due to various factors.