Kyokuto Co.,Ltd., June-August (2Q) Ordinary Profit Loss Widens

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Fri Oct 4, 2024 2:00 pm JST Earnings

2300 Kyokuto Co.,Ltd. 【J-GAAP】

Earnings Report

Kyokuto Co.,Ltd. <2300> [TSE-S] announced its financial results in the afternoon session on October 4th (14:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 12.6% from the same period last year, reaching 419 million yen. The progress rate for full-year plan of 250 million yen has already exceeded 167.6%, but was lower than the the same period of the previous year of 228.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary loss for the September to February period (second half) is expected to further decrease to loss of 169 million yen (compared to a loss of 209 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the ordinary loss expanded to a loss of 112 million yen (compared to a loss of 77 million yen in the same period last year). The operating profit/loss margin worsened from -8.7% in the same period last year to -11.3%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	2,754	184	225	142	36.8	ー	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	2,862	333	372	229	43.6	228.2	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	3,182	374	419	292	55.6	167.6	Oct 4, 2024	J-GAAP
YoY	+11.2%	+12.3%	+12.6%	+27.5%	+27.7%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	3,110	350	390	270	51.3	5.50	Apr 15, 2024	J-GAAP
Mar - Aug, 2024 Results	3,182	374	419	292	55.6	5.50	Oct 4, 2024	J-GAAP
Revision Rate	+2.3%	+6.9%	+7.4%	+8.1%	+8.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	2,210	-250	-209	-110	-20.9	5.50	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	2,148	-224	-169	-142	-27.0	5.50	Oct 4, 2024	J-GAAP
YoY	-2.8%	+10.4%	+19.1%	-29.1%	-29.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	4,688	-177	-93	-169	-32.3	6	May 31, 2023	J-GAAP
Feb, 2024	5,072	83	163	119	22.6	8.50	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	5,330	150	250	150	28.5	11	Apr 15, 2024	J-GAAP
YoY	+5.1%	+80.7%	+53.4%	+26.1%	+26.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	1,078	-94	-77	-53	-10.1	-8.7	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	1,197	-75	-55	-41	-7.8	-6.3	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	1,013	-175	-154	-69	-13.1	-17.3	Apr 15, 2024	J-GAAP
Mar - May, 2024	2,034	504	531	367	69.8	24.8	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	1,148	-130	-112	-75	-14.3	-11.3	Oct 4, 2024	J-GAAP
YoY	+6.5%	-38.3%	-45.5%	-41.5%	-41.6%