i-mobile Co (6535) Q4 2024 earnings summary

Executive summary

• Achieved record-high revenue of ¥18,735 million (+14.1% YoY), with operating profit up 0.7% to ¥3,549 million and net income up 0.7% to ¥2,420 million, driven by strong performance in the Furusato Nozei business and effective customer acquisition and promotional strategies.

• The business is structured around two main segments: Consumer (driven by the growing Furusato Nozei market) and Internet Advertising.

• Operating profit and net income exceeded prior year, though full-year targets were not met due to timing of revenue recognition and upfront HQ relocation costs.

• Dividend payout ratio set at 50% for four years starting FY2024, with a planned increase in dividends.

Financial highlights

• FY2024 revenue: ¥18,735 million (+14.1% YoY), operating profit: ¥3,549 million (+0.7% YoY), net income: ¥2,420 million (+0.7% YoY).

• Consumer segment revenue: ¥15,950 million (+20.1% YoY), operating profit: ¥3,446 million (+15.8% YoY).

• Internet advertising segment revenue: ¥2,756 million (-13.3% YoY), operating profit: ¥333 million (-50.1% YoY).

• Dividend per share for FY2024: ¥22, payout ratio: 52.2%.

• Cash and equivalents at year-end were ¥18,602 million, up ¥2,384 million from the previous year.

Outlook and guidance

• FY2025 revenue forecast: ¥23,000 million (+22.8% YoY), operating profit: ¥4,500 million (+26.8% YoY), net income: ¥2,950 million (+21.9% YoY).

• Consumer segment expected to drive growth with enhanced features and promotional activities; internet advertising segment to maintain profit levels.

• Dividend per share planned to increase to ¥26 in FY2025.