Kanagawa Chuo Kotsu Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 42%

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Wed Oct 30, 2024 3:00 pm JST Earnings

9081 Kanagawa Chuo Kotsu Co., Ltd. 【J-GAAP】

Earnings Report

Kanagawa Chuo Kotsu Co., Ltd. <9081> [TSE-P] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 5.25 billion yen, an increase of 30.9% compared to the same period last year, exceeded the previous forecast of 4.38 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 41.9%, from the previous forecast of 4.42 billion yen to 6.27 billion yen (compared to 7.74 billion yen in the previous period), and the declining rate is expected to decrease from 42.9% to 19.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 72.8% from the same period last year to 1.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 14.7% from the same period last year, reaching 2.29 billion yen. The operating profit margin improved from 7.0% in the same period last year to 7.9%.

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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	50,091	2,520	2,720	1,937	157.9	55.4	Oct 24, 2022	J-GAAP
Apr - Sep, 2023	56,885	3,836	4,013	2,564	209.0	51.8	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	59,271	5,078	5,253	4,635	377.8	83.8	Oct 30, 2024	J-GAAP
YoY	+4.2%	+32.4%	+30.9%	+80.8%	+80.7%

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	58,300	4,230	4,380	4,050	330.0	40	Aug 27, 2024	J-GAAP
Apr - Sep, 2024 Results	59,271	5,078	5,253	4,635	377.8	40	Oct 30, 2024	J-GAAP
Revision Rate	+1.7%	+20.0%	+19.9%	+14.4%	+14.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	113,300	4,520	4,420	3,600	293.4	80	Apr 30, 2024	J-GAAP
Mar, 2025 New	116,600	6,150	6,270	4,310	351.2	80	Oct 30, 2024	J-GAAP
Revision Rate	+2.9%	+36.1%	+41.9%	+19.7%	+19.7%

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	60,182	3,680	3,734	698	56.9	40	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	57,329	1,072	1,017	-325	-26.5	40	Oct 30, 2024	J-GAAP
YoY	-4.7%	-70.9%	-72.8%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	103,865	4,323	4,910	1,149	93.7	40	Apr 27, 2023	J-GAAP
Mar, 2024	117,067	7,516	7,747	3,262	265.9	60	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	116,600	6,150	6,270	4,310	351.2	80	Oct 30, 2024	J-GAAP
YoY	-0.4%	-18.2%	-19.1%	+32.1%	+32.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,417	2,064	1,996	1,025	83.6	7.0	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	30,328	2,355	2,456	1,370	111.7	7.8	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	29,854	1,325	1,278	-672	-54.8	4.4	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	29,371	2,712	2,963	3,177	258.9	9.2	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	29,900	2,366	2,290	1,458	118.8	7.9	Oct 30, 2024	J-GAAP
YoY	+1.6%	+14.6%	+14.7%	+42.2%	+42.2%