Notice regarding Differences between Financial Targets and Results for the Six Months ended September 30, 2021, and Upward Revision of the Full-Year Financial Targets for the Fiscal Year ending March 31, 2022
TOKYO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. (“IIJ”, TSE1: 3774) today announced differences between financial targets for the six months ended September 30, 2021 (“1H21”) announced on May 12, 2021 and its results for 1H21. IIJ also announced revision of its full-year financial targets for the fiscal year ending March 31, 2022 (“FY2021”, April 1, 2021 to March 31, 2022).
1. Differences between Consolidated Financial Targets and Results for 1H21 (From April 1, 2021 to September 30, 2021)
| Revenues | Operating Profit | Profit before Tax | Profit for the period attributable to owners of the parent | Basic earnings per share | |
| JPY millions | JPY millions | JPY millions | JPY millions | JPY | |
| Previous Target (A) | 108,000 | 6,500 | 6,300 | 4,200 | 46.56 |
| Results (B) | 109,054 | 9,304 | 10,432 | 6,892 | 76.34 |
| Change (B-A) | 1,054 | 2,804 | 4,132 | 2,692 | |
| Change (%) | 1.0 | 43.1 | 65.6 | 64.1 | |
| < Reference > 1H20 Results (From April 1, 2020 to September 30, 2020) | 101,665 | 5,239 | 4,466 | 2,770 | 30.71(*1) |
2. Revision for the Consolidated Financial Targets for FY2021 (From April 1, 2021 to March 31, 2022)
| Revenues | Operating Profit | Profit before Tax | Profit for the year attributable to owners of the parent | Basic earnings per share | |
| JPY millions | JPY millions | JPY millions | JPY millions | JPY | |
| Previous Target (A) | 226,000 | 17,500 | 17,300 | 11,700 | 129.70 |
| New Target (B) | 228,500 | 22,000 | 21,500 | 13,700 | 151.72 |
| Change (B-A) | 2,500 | 4,500 | 4,200 | 2,000 | |
| Change (%) | 1.1 | 25.7 | 24.3 | 17.1 | |
| < Reference > FY2020 Results (From April 1, 2020 to March 31, 2021) | 213,002 | 14,248 | 14,035 | 9,712 | 107.67(*1) |
3. Reasons for Differences and Revision
Our 1H21 revenues and operating profit exceeded our expectations which we had at the beginning of FY2021, mainly due to increases in revenues and gross profit of network services. As for profit before tax, there were, in addition to an increase in operating profit, temporary gains related to valuation of funds. As for the full-year financial targets, we revised targets of revenues and operating profit for FY2021 as we expect network services to continue exceeding the initial forecast in the second half of this fiscal year. We also revised the targets of profit before tax and profit for the year attributable to owners of the parent, by mainly considering operating profit, potential losses of temporary valuation, and tax effects.
*1 IIJ conducted a stock split at a ratio of two-for-one effective from January 1, 2021. Accordingly, per share information for 1H20 and FY2020 have been calculated as if the stock split was conducted at the beginning of FY2020.
< About Internet Initiative Japan Inc. >
Founded in 1992, IIJ is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ's services include high-quality Internet connectivity services, mobile services, security services, cloud computing services, and systems integration. Moreover, IIJ operates one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ listed on the First Section of the Tokyo Stock Exchange in 2006.
< IIJ Investor Relations >
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< Disclaimer >
Statements made in this press release regarding IIJ’s or managements’ intentions, beliefs, expectations, or predictions for the future are forward-looking statements that are based on IIJ’s and managements’ current expectations, assumptions, estimates and projections about its business and the industry. These forward-looking statements, such as statements regarding revenues, operating and net profitability are subject to various risks, uncertainties and other factors that could cause IIJ’s actual results to differ materially from those contained in any forward-looking statement.
Company name: Internet Initiative Japan Inc.
Company representative: Eijiro Katsu, President and Representative Director
(Stock Code Number: 3774, The First Section of the Tokyo Stock Exchange)
Contact: Akihisa Watai, Senior Managing Director and CFO
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