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CHITA KOGYO CO., LTD., First Half Ordinary Profit Decreases by 10%, June-Augus Ordinary Profit Decreases by 41%

Fri Oct 11, 2024 4:00 pm JST Earnings

5993 CHITA KOGYO CO., LTD. 【J-GAAP】

Earnings Report

CHITA KOGYO CO., LTD. <5993> [NSE-M] announced its financial results after the market closed on October 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 9.9% from the same period last year to 846 million yen. The progress rate against the 2.05 billion yen full-year plan was 41.3%, also falling below the five-year average of 44.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 20.8% from the same period last year, reaching 1.2 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit dropped to 274 million yen, a 40.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 5.4% in the same period last year to 5.3%.

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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 6,308 566 1,291 901 94.1 63.8 Oct 7, 2022 J-GAAP
Mar - Aug, 2023 6,887 478 939 653 68.3 48.5 Oct 6, 2023 J-GAAP
Mar - Aug, 2024 7,639 519 846 604 63.2 41.3 Oct 11, 2024 J-GAAP
YoY +10.9% +8.6% -9.9% -7.5% -7.5%

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 － 9 Apr 5, 2024 J-GAAP
Mar - Aug, 2024 Results 7,639 519 846 604 63.2 9 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 7,639 591 997 720 75.2 8 Apr 5, 2024 J-GAAP
Sep - Feb, 2024 Guidance 7,361 831 1,204 831 86.8 9 Oct 11, 2024 J-GAAP
YoY -3.6% +40.6% +20.8% +15.4% +15.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 13,166 1,044 2,023 1,409 147.2 16 Apr 7, 2023 J-GAAP
Feb, 2024 14,526 1,069 1,936 1,373 143.5 16 Apr 5, 2024 J-GAAP
Feb, 2025 Guidance 15,000 1,350 2,050 1,435 149.9 18 Apr 5, 2024 J-GAAP
YoY +3.3% +26.3% +5.9% +4.5% +4.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 3,456 185 462 319 33.4 5.4 Oct 6, 2023 J-GAAP
Sep - Nov, 2023 3,899 370 506 351 36.7 9.5 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 3,740 221 491 369 38.6 5.9 Apr 5, 2024 J-GAAP
Mar - May, 2024 3,785 313 572 408 42.7 8.3 Jul 9, 2024 J-GAAP
Jun - Aug, 2024 3,854 206 274 196 20.5 5.3 Oct 11, 2024 J-GAAP
YoY +11.5% +11.4% -40.7% -38.6% -38.5%

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