Veru Inc.「7048」 announced on February 14, 2024, the revision of the full-year consolidated financial estimates for the fiscal year ending December 2024.

Operating revenue decreased by 23.1% compared to the previous forecast to 4.2 billion yen, operating loss was 0.318 billion yen, ordinary loss was 0.418 billion yen, and net loss attributable to the parent company's shareholders was 0.45 billion yen.

The main reasons for the significant differences in operating revenue expectations by segment include in the OTA business: the recovery rate of long-distance routes such as beach resorts in the main areas such as Hawaii and Guam, as well as North America and Europe, is tracking significantly below assumptions at approximately 30-45%, due to factors such as yen depreciation, high local prices leading to soaring product prices. In addition, in the tourism IT business, there are cases where some timing mismatches have occurred in infrastructure projects such as system development outsourcing.

The company is proceeding with the formulation of a new medium-term vision in order to balance the improvement of operating revenue and profit levels in the recovering OTA business, as well as investments in the stable high-demand inbound areas that are still expected.