Kabuki-Za Co.,Ltd., First Half Ordinary Profit Increases by 27%, Exceeds Full-Year Plan

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Thu Oct 10, 2024 4:00 pm JST Earnings

9661 Kabuki-Za Co.,Ltd. 【J-GAAP】

Earnings Report

Kabuki-Za Co.,Ltd. <9661> [TSE-S] announced its financial results after the market closed on October 10th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 27.3% from the same period last year, reaching 154 million yen, exceeded the previous forecast of 121 million yen.

The progress rate against the full-year plan of 116 million yen is 132.8%, already exceeding the target and also exceeding the same period of the previous year of 54.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the September to February period (second half) is expected to turn into a loss of 38 million yen (compared to a profit of 101 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 69 million yen, a 4.2% decrease compared to the same period last year. The operating profit margin worsened from 8.7% in the same period last year to 8.2%.

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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	1,243	-43	-23	-54	-4.5	ー	Oct 12, 2022	J-GAAP
Mar - Aug, 2023	1,509	98	121	81	6.7	54.5	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	1,543	124	154	114	9.4	132.8	Oct 10, 2024	J-GAAP
YoY	+2.3%	+26.5%	+27.3%	+40.7%	+40.4%

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	1,500	99	121	84	6.9	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	1,543	124	154	114	9.4	0	Oct 10, 2024	J-GAAP
Revision Rate	+2.9%	+25.3%	+27.3%	+35.7%	+35.9%

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	1,543	105	101	174	14.4	5	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	1,437	-34	-38	-34	-2.8	5	Oct 10, 2024	J-GAAP
YoY	-6.9%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	2,701	-25	-3	-78	-6.5	5	Apr 13, 2023	J-GAAP
Feb, 2024	3,052	203	222	255	21.1	5	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	2,980	90	116	80	6.6	5	Apr 12, 2024	J-GAAP
YoY	-2.4%	-55.7%	-47.7%	-68.6%	-68.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	760	66	72	52	4.3	8.7	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	742	59	60	43	3.6	8.0	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	801	46	41	131	10.9	5.7	Apr 12, 2024	J-GAAP
Mar - May, 2024	758	60	85	49	4.1	7.9	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	785	64	69	65	5.4	8.2	Oct 10, 2024	J-GAAP
YoY	+3.3%	-3.0%	-4.2%	+25.0%	+24.6%