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

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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%