KANDENKO CO.,LTD., First Half Ordinary Profit Increases by 57%, July-September Ordinary Profit Increases by 67%

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Thu Oct 31, 2024 1:00 pm JST Earnings

1942 KANDENKO CO.,LTD. 【J-GAAP】

Earnings Report

KANDENKO CO.,LTD. <1942> [TSE-P] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 26.1 billion yen, an increase of 57.0% compared to the same period last year. The progress rate against the 44 billion yen full-year plan was 59.4%, also surpassing the five-year average of 43.1%.

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 31.3% from the same period last year to 17.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 66.5% from the same period last year, reaching 15 billion yen. The operating profit margin significantly improved from 6.3% in the same period last year to 9.5%.

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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	233,693	13,630	14,518	9,508	46.5	42.6	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	261,821	15,745	16,652	11,103	54.3	39.0	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	286,740	25,427	26,144	17,263	84.5	59.4	Oct 31, 2024	J-GAAP
YoY	+9.5%	+61.5%	+57.0%	+55.5%	+55.5%

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	293,000	24,500	25,100	16,600	81.2	26	Sep 9, 2024	J-GAAP
Apr - Sep, 2024 Results	286,740	25,427	26,144	17,263	84.5	26	Oct 31, 2024	J-GAAP
Revision Rate	-2.1%	+3.8%	+4.2%	+4.0%	+4.0%

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	336,606	25,189	25,996	16,242	79.5	24	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	346,260	17,573	17,856	11,537	56.4	25	Oct 31, 2024	J-GAAP
YoY	+2.9%	-30.2%	-31.3%	-29.0%	-29.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	541,579	32,748	34,059	21,167	103.6	32	Apr 28, 2023	J-GAAP
Mar, 2024	598,427	40,934	42,648	27,345	133.8	41	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	633,000	43,000	44,000	28,800	140.9	51	Sep 9, 2024	J-GAAP
YoY	+5.8%	+5.0%	+3.2%	+5.3%	+5.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	143,039	8,978	9,061	6,034	29.5	6.3	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	141,536	9,187	9,593	8,944	43.8	6.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	195,070	16,002	16,403	7,298	35.7	8.2	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	128,864	10,353	11,053	7,382	36.1	8.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	157,876	15,074	15,091	9,881	48.4	9.5	Oct 31, 2024	J-GAAP
YoY	+10.4%	+67.9%	+66.5%	+63.8%	+63.7%