Veru Inc. <7048> announced its consolidated performance for the Q2 of FY2024 (January to June 2024) on the 14th. Operating revenue increased by 56.8% YoY to 1.815 billion yen, operating loss was 0.197 billion yen (loss of 0.203 billion yen in the same period of the previous year), ordinary loss was 0.285 billion yen (a loss of 0.233 billion yen in the same period of the previous year), and the net loss attributable to shareholders of the parent company was 0.271 billion yen (a loss of 0.254 billion yen in the same period of the previous year).

Looking at the operating revenue by revenue category, OTA business was 1.439 billion yen (an increase of 56.5% compared to the previous interim consolidated accounting period) and tourism IT business was 0.375 billion yen (an increase of 58.0% compared to the previous interim consolidated accounting period).

Profits have increased due to enhanced advertising and publicity for revenue acquisition and improved recognition in response to the recovery of travel demand and increased personnel levels, and cost levels have been on the rise similar to the first quarter. In addition, factors such as the fact that the number of Japanese overseas travelers has not yet reached the pre-pandemic level and the impact of exchange rate losses have also affected costs.

The consolidated performance forecast for the FY2024 full year remains unchanged from the initial plan, with revenue of 5.468 billion yen (an increase of 76.4% compared to the previous year), operating profit of 0.35 billion yen, ordinary profit of 0.34 billion yen, and net income attributable to shareholders of the parent company of 0.264 billion yen.