KOMORI CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 0.04％ Increase, Dividend Revised Upward by 10 yen

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Thu Oct 31, 2024 3:00 pm JST Earnings

6349 KOMORI CORPORATION 【J-GAAP】

Earnings Report

KOMORI CORPORATION <6349> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 29.1% from the same period last year to 1.4 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 25.9%, from the previous forecast of 5.4 billion yen to 6.8 billion yen (compared to 6.79 billion yen in the previous period), turning to a 0.04% increase in the consolidated ordinary profit outlook.

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 grow by 12.0% from the same period last year, reaching 5.39 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 40 yen to 50 yen (compared to 60 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 295 million yen, a 79.9% decrease compared to the same period last year. The operating profit margin worsened from 4.1% in the same period last year to 3.3%.

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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	46,097	2,726	4,097	3,268	60.0	62.0	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	47,127	443	1,983	1,141	21.2	29.2	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	50,135	1,306	1,406	1,005	19.0	20.7	Oct 31, 2024	J-GAAP
YoY	+6.4%	+194.8%	-29.1%	-11.9%	-10.6%

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	50,200	1,200	700	500	9.4	20	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	50,135	1,306	1,406	1,005	19.0	20	Oct 31, 2024	J-GAAP
Revision Rate	-0.1%	+8.8%	+100.9%	+101.0%	+101.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	109,400	5,800	5,400	5,800	109.3	40	May 14, 2024	J-GAAP
Mar, 2025 New	113,300	6,700	6,800	6,100	115.0	50	Oct 31, 2024	J-GAAP
Revision Rate	+3.6%	+15.5%	+25.9%	+5.2%	+5.2%

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	57,151	4,455	4,814	3,500	65.5	45	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	63,165	5,394	5,394	5,095	96.0	30	Oct 31, 2024	J-GAAP
YoY	+10.5%	+21.1%	+12.0%	+45.6%	+46.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	97,914	5,719	6,611	5,716	104.9	45	May 15, 2023	J-GAAP
Mar, 2024	104,278	4,898	6,797	4,641	86.8	60	May 14, 2024	J-GAAP
Mar, 2025 Guidance	113,300	6,700	6,800	6,100	115.0	50	Oct 31, 2024	J-GAAP
YoY	+8.7%	+36.8%	+0.0%	+31.4%	+32.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,758	1,141	1,470	1,126	20.9	4.1	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	22,139	282	218	143	2.7	1.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	35,012	4,173	4,596	3,357	62.8	11.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	24,313	442	1,111	621	11.7	1.8	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	25,822	864	295	384	7.2	3.3	Oct 31, 2024	J-GAAP
YoY	-7.0%	-24.3%	-79.9%	-65.9%	-65.4%