CAICA DIGITAL has revised its full-year earnings forecast for the fiscal year ending October 2024, projecting sales of ¥5.656 billion, down from a previously forecast ¥6.302 billion. The company now anticipates an operating loss of ¥164 million, an ordinary loss of ¥292 million, and a net loss of ¥397 million, reversing earlier profit projections. Despite the losses, CAICA noted that the size of its deficit will be significantly smaller compared to previous results.
While the IT services business performed steadily, with improved profit margins due to price negotiations and high-value project acquisitions, overall sales lagged as the company prioritized profitability over growth. Additionally, CAICA recorded a ¥289 million valuation loss on its cryptocurrency holdings, including Kaikacoin and Skebcoin, further impacting its financial results.
For the third quarter, CAICA reported a modest sales increase of 0.8% to ¥4.225 billion. However, it continues to face losses, including an operating loss of ¥175 million and a net loss of ¥402 million, albeit an improvement from the previous year’s deeper deficits.
The company has adjusted its expectations for the remainder of the fiscal year as it navigates challenges in both its IT and financial services segments.
