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

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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%