■Future Outlook LeTech <3497> expects an increase in sales and ordinary income of more than 20%, with sales of 2.14 billion yen (+33.8% YoY), operating income of 150 million yen (+7.7% YoY), ordinary income of 100 million yen (+21.7% YoY), and net income of 1.03 billion yen (-11.4% YoY) for the July 2024 term, and has maintained its initial forecast (announced in September 2023).
For the September 2024 fiscal year, the performance of AINAVO Holdings (7539) will maintain its initial forecasts with revenues of ¥9.2 billion, up 6.9% from the previous year; operating profits of ¥210 million, up 18.6% from the previous year; ordinary profits of ¥230 million, up 11.2% from the previous year; and net income attributable to the parent company's shareholders of ¥145 million, up 13.8% from the previous year.
While the outlook for the housing market remains uncertain, we expect to achieve a full-year operating profit increase of 18.6% by continuing to secure planned revenues and promote improvements in gross profit margins.
Operating profits by subsidiary are as follows: Abelco's profits were ¥200.2 million, up 10.1% from the previous year; Intelglo's profits were ¥23.9 million, up 33.5% from the previous year; Wantechno's profits were ¥14.4 million, up 206.4% from the previous year; Imagawa's profits were ¥5 million, up 212.5% from the previous year; Artis had a loss of ¥57 million (compared to a loss of ¥57 million in the previous year); Mannix's profits were ¥11.3 million, up 24.2% from the previous year; Maristo's profits were ¥1.5 million, up 66.7% from the previous year; and Mick is expected to have profits of ¥31 million. Abelco and Intelglo continue to struggle in the single-family housing market, but are aiming for profit growth. Wantechno, which had a poor performance in the September 2023 period, is also forecasting a significant increase in full-year profits. While Imagawa also expects an increase in profits, profit levels are still low. Artis is still expecting an operating loss. Mannix and Maristo expect only modest profit growth. Newly consolidated Mick also plans to include operating profits.
In addition, the company is actively pursuing M&A and seems to have many cases in progress. We will keep an eye on future developments.
(Written by FISCO guest analyst Noboru Terashima)