KAWATA MFG. CO., LTD., First Half Ordinary Profit Decreases by 63%, July-September Ordinary Profit Decreases by 94%

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Thu Oct 31, 2024 12:00 pm JST Earnings

6292 KAWATA MFG. CO., LTD. 【J-GAAP】

Earnings Report

KAWATA MFG. CO., LTD. <6292> [TSE-S] announced its financial results at noon (12:00) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 62.5% from the same period last year to 289 million yen. The progress rate against the 660 million yen full-year plan was 43.8%, almost the same as the five-year average of 43.0%.

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 October to March period (second half) is expected to drop by 42.3% from the same period last year to 371 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 40 million yen, a 94.4% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.0% in the same period last year to 3.1%.

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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	7,843	-38	185	-31	-4.5	22.8	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	12,374	664	771	526	75.4	54.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	9,917	286	289	139	20.0	43.8	Oct 31, 2024	J-GAAP
YoY	-19.9%	-56.9%	-62.5%	-73.6%	-73.4%

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	－	20.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	9,917	286	289	139	20.0	20.50	Oct 31, 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
Oct - Mar, 2023	12,120	585	643	403	57.7	20.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,183	364	371	261	37.4	20.50	Oct 31, 2024	J-GAAP
YoY	+0.5%	-37.8%	-42.3%	-35.2%	-35.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,826	638	813	351	50.3	41	May 11, 2023	J-GAAP
Mar, 2024	24,494	1,249	1,414	929	133.1	41	May 10, 2024	J-GAAP
Mar, 2025 Guidance	22,100	650	660	400	57.3	41	May 10, 2024	J-GAAP
YoY	-9.8%	-48.0%	-53.3%	-56.9%	-56.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,176	649	716	535	76.7	9.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	5,817	148	96	42	6.0	2.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	6,303	437	547	361	51.7	6.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,752	124	249	145	20.9	2.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	5,165	162	40	-6	-0.9	3.1	Oct 31, 2024	J-GAAP
YoY	-28.0%	-75.0%	-94.4%	－	－