Kurogane Kosakusho Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 33%

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Tue Oct 15, 2024 3:00 pm JST Earnings

7997 Kurogane Kosakusho Ltd. 【J-GAAP】

Earnings Report

Kurogane Kosakusho Ltd. <7997> [TSE-S] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) turned into a profit of 16 million yen (compared to a loss of 6 million yen in the same period last year).

However, the full-year consolidated ordinary profit has downwardly by 33.3%, from the previous forecast of 90 million yen to 60 million yen (compared to a loss of 178 million yen in the previous period). However, the full-year consolidated net income has been revised upward by 2.8 times, from the previous forecast of 60 million yen to 165 million yen (compared to 1.21 billion yen in the previous period), and the declining rate is expected to decrease from 95.1% to 86.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the June to November period (second half) has been revised downward from an expected loss of 27 million yen to a loss of 57 million yen (compared to a loss of 176 million yen in the same period of the previous year), indicating an expansion in the loss margin.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary loss expanded to a loss of 101 million yen (compared to a loss of 4 million yen in the same period last year). The operating profit/loss margin drastically worsened from -0.9% in the same period last year to -8.3%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Dec - Aug, 2021	4,800	-241	-247	-289	-170.2	ー	Oct 14, 2022	J-GAAP
Dec - Aug, 2022	5,520	13	-6	340	199.7	ー	Oct 16, 2023	J-GAAP
Dec - Aug, 2023	5,463	-24	16	66	39.1	26.7	Oct 15, 2024	J-GAAP
YoY	-1.0%	－	－	-80.6%	-80.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Prev	3,639	-60	-27	-26	-15.3	0	Jun 27, 2024	J-GAAP
Jun - Nov, 2024 New	3,329	-90	-57	79	46.4	0	Oct 15, 2024	J-GAAP
Revision Rate	-8.5%	-50.0%	-111.1%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2024 Prev	7,660	35	90	60	35.2	0	Jan 15, 2024	J-GAAP
Nov, 2024 New	7,350	5	60	165	96.9	0	Oct 15, 2024	J-GAAP
Revision Rate	-4.0%	-85.7%	-33.3%	+175.0%	+175.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2023	3,372	-167	-176	874	513.4	0	Jan 15, 2024	J-GAAP
Jun - Nov, 2024 Guidance	3,329	-90	-57	79	46.4	0	Oct 15, 2024	J-GAAP
YoY	-1.3%	+46.1%	+67.6%	-91.0%	-91.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2022	6,920	-260	-265	-566	-332.3	0	Jan 16, 2023	J-GAAP
Nov, 2023	7,180	-139	-178	1,214	713.1	0	Jan 15, 2024	J-GAAP
Nov, 2024 Guidance	7,350	5	60	165	96.9	0	Oct 15, 2024	J-GAAP
YoY	+2.4%	－	－	-86.4%	-86.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	1,712	-15	-4	0	-0.1	-0.9	Oct 16, 2023	J-GAAP
Sep - Nov, 2023	1,660	-152	-172	874	513.4	-9.2	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	1,743	-15	-4	-7	-4.7	-0.9	Apr 15, 2024	J-GAAP
Mar - May, 2024	2,278	110	121	93	54.8	4.8	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	1,442	-119	-101	-20	-11.9	-8.3	Oct 15, 2024	J-GAAP
YoY	-15.8%	-693.3%	-2,425.0%	－	-10,672.7%