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Kanemi Co.,Ltd., First Half Ordinary Profit Decreases by 4%

Fri Oct 11, 2024 3:00 pm JST Earnings

2669 Kanemi Co.,Ltd. 【J-GAAP】

Earnings Report

Kanemi Co.,Ltd. <2669> [TSE-S] announced its financial results after the market closed on October 11th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 4.0% from the same period last year to 1.8 billion yen. However, The progress rate against the 3.3 billion yen full-year plan was 54.5%, also surpassing the five-year average of 43.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to grow by 11.9% from the same period last year, reaching 1.5 billion yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit amounted to 1 billion yen, a 0.3% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 4.5% in the same period last year to 4.3%.

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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 40,083 1,270 1,308 863 89.3 47.7 Oct 11, 2022 J-GAAP
Mar - Aug, 2023 42,919 1,843 1,875 1,216 125.8 58.3 Oct 10, 2023 J-GAAP
Mar - Aug, 2024 45,360 1,777 1,800 1,172 121.2 54.5 Oct 11, 2024 J-GAAP
YoY +5.7% -3.6% -4.0% -3.6% -3.6%

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 ー ー ー ー － 19 Apr 10, 2024 J-GAAP
Mar - Aug, 2024 Results 45,360 1,777 1,800 1,172 121.2 19 Oct 11, 2024 J-GAAP
Revision Rate － － － － －

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 44,188 1,319 1,340 638 66.0 19 Apr 10, 2024 J-GAAP
Sep - Feb, 2024 Guidance 43,740 1,473 1,500 728 75.2 19 Oct 11, 2024 J-GAAP
YoY -1.0% +11.7% +11.9% +14.1% +14.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 81,059 2,686 2,742 1,720 177.9 36 Apr 10, 2023 J-GAAP
Feb, 2024 87,107 3,162 3,215 1,854 191.7 38 Apr 10, 2024 J-GAAP
Feb, 2025 Guidance 89,100 3,250 3,300 1,900 196.4 38 Apr 10, 2024 J-GAAP
YoY +2.3% +2.8% +2.6% +2.5% +2.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 22,029 997 1,012 641 66.3 4.5 Oct 10, 2023 J-GAAP
Sep - Nov, 2023 21,579 577 588 352 36.4 2.7 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 22,609 742 752 286 29.6 3.3 Apr 10, 2024 J-GAAP
Mar - May, 2024 22,277 787 791 514 53.2 3.5 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 23,083 990 1,009 658 68.1 4.3 Oct 11, 2024 J-GAAP
YoY +4.8% -0.7% -0.3% +2.7% +2.6%

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