KOA CORPORATION, The Current Fiscal Year Net Income Revised Downward by 90%, Dividend Revised down by 10 yen

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Wed Oct 23, 2024 4:00 pm JST Earnings

6999 KOA CORPORATION 【J-GAAP】

Earnings Report

KOA CORPORATION <6999> [TSE-P] announced its financial results after the market closed on October 23rd (16:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 572 million yen (compared to a profit of 1.52 billion yen in the same period last year).

In addition, the full-year consolidated net income has downwardly by 90.0%, from the previous forecast of 800 million yen to 80 million yen (compared to 2.76 billion yen in the previous period), leading to an increase in the profit decline rate from 71.1% to 97.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to drop by 47.7% from the same period last year to 652 million yen.

Due to a decline in performance, the company has reduced its planned annual dividend for the current fiscal year from the original plan of 50 yen to 40 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 941 million yen (compared to a profit of 464 million yen in the same period last year). The operating profit margin worsened from 3.5% in the same period last year to 1.6%.

Kabutan News

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
Apr - Sep, 2022	37,964	5,609	6,504	4,515	121.8	61.7	Oct 25, 2022	J-GAAP
Apr - Sep, 2023	33,526	1,451	2,298	1,522	41.1	51.2	Oct 24, 2023	J-GAAP
Apr - Sep, 2024	31,894	474	-167	-572	-15.4	ー	Oct 23, 2024	J-GAAP
YoY	-4.9%	-67.3%	－	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	25	Apr 23, 2024	J-GAAP
Apr - Sep, 2024 Results	31,894	474	-167	-572	-15.4	25	Oct 23, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	64,600	1,600	1,000	800	21.6	50	Sep 30, 2024	J-GAAP
Mar, 2025 New	62,800	1,150	830	80	2.2	40	Oct 23, 2024	J-GAAP
Revision Rate	-2.8%	-28.1%	-17.0%	-90.0%	-90.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	31,309	1,862	2,187	1,247	33.6	25	Apr 23, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,906	676	997	652	17.6	15	Oct 23, 2024	J-GAAP
YoY	-1.3%	-63.7%	-54.4%	-47.7%	-47.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	75,072	10,222	10,538	7,367	198.8	50	Apr 25, 2023	J-GAAP
Mar, 2024	64,835	3,313	4,485	2,769	74.7	50	Apr 23, 2024	J-GAAP
Mar, 2025 Guidance	62,800	1,150	830	80	2.2	40	Oct 23, 2024	J-GAAP
YoY	-3.1%	-65.3%	-81.5%	-97.1%	-97.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,554	586	698	464	12.5	3.5	Oct 24, 2023	J-GAAP
Oct - Dec, 2023	15,691	1,617	1,443	871	23.5	10.3	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	15,618	245	744	376	10.1	1.6	Apr 23, 2024	J-GAAP
Apr - Jun, 2024	16,211	230	666	369	10.0	1.4	Jul 23, 2024	J-GAAP
Jul - Sep, 2024	15,683	244	-833	-941	-25.4	1.6	Oct 23, 2024	J-GAAP
YoY	-5.3%	-58.4%	－	－	－