KROSAKI HARIMA CORPORATION, The Current Fiscal Year Net Income Revised Upward by 4%, Dividend Revised Upward by 15 yen

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Tue Oct 29, 2024 3:30 pm JST Earnings

5352 KROSAKI HARIMA CORPORATION 【J-GAAP】

Earnings Report

KROSAKI HARIMA CORPORATION <5352> [TSE-P] announced its financial results after the market closed on October 29th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.1% from the same period last year to 4.16 billion yen.

However, the full-year consolidated net income has been revised upward by 4.2%, from the previous forecast of 11.8 billion yen to 12.3 billion yen (compared to 12.4 billion yen in the previous period), and the declining rate is expected to decrease from 5.0% to 0.9%.

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 expand by 40.4% from the same period last year, reaching 8.13 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 90 yen to 105 yen (compared to 400 yen before the 1-to-4 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 2 billion yen, a 43.3% decrease compared to the same period last year. The operating profit margin worsened from 7.9% in the same period last year to 7.2%.

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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
Apr - Sep, 2022	80,591	4,914	5,685	3,576	106.2	47.0	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	89,399	7,596	8,593	6,619	196.5	52.4	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	88,090	6,282	6,540	4,163	123.6	43.6	Oct 29, 2024	J-GAAP
YoY	-1.5%	-17.3%	-23.9%	-37.1%	-37.1%

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	88,000	6,500	7,000	4,500	133.6	45	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	88,090	6,282	6,540	4,163	123.6	45	Oct 29, 2024	J-GAAP
Revision Rate	+0.1%	-3.4%	-6.6%	-7.5%	-7.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	178,000	15,000	15,000	11,800	350.4	90	May 13, 2024	J-GAAP
Mar, 2025 New	178,000	15,000	15,000	12,300	365.2	105	Oct 29, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+4.2%	+4.2%

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	87,630	7,096	7,796	5,797	172.1	60	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	89,910	8,718	8,460	8,137	241.6	60	Oct 29, 2024	J-GAAP
YoY	+2.6%	+22.9%	+8.5%	+40.4%	+40.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	165,202	11,173	12,083	8,282	245.9	72.50	May 12, 2023	J-GAAP
Mar, 2024	177,029	14,692	16,389	12,416	368.6	100	May 13, 2024	J-GAAP
Mar, 2025 Guidance	178,000	15,000	15,000	12,300	365.2	105	Oct 29, 2024	J-GAAP
YoY	+0.5%	+2.1%	-8.5%	-0.9%	-0.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	44,042	3,463	3,839	3,541	105.1	7.9	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	44,950	4,349	4,455	2,913	86.5	9.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	42,680	2,747	3,341	2,884	85.6	6.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	43,939	3,121	3,561	2,156	64.0	7.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	44,151	3,161	2,979	2,007	59.6	7.2	Oct 29, 2024	J-GAAP
YoY	+0.2%	-8.7%	-22.4%	-43.3%	-43.3%