KUNIMINE INDUSTRIES CO.,LTD, First Half Ordinary Profit Decreases by 16%, July-September Ordinary Profit Decreases by 27%

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Thu Oct 31, 2024 3:00 pm JST Earnings

5388 KUNIMINE INDUSTRIES CO.,LTD 【J-GAAP】

Earnings Report

KUNIMINE INDUSTRIES CO.,LTD <5388> [TSE-S] 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 15.9% from the same period last year to 581 million yen. The progress rate against the 1.56 billion yen full-year plan was 37.2%, almost the same as the five-year average of 37.4%.

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 grow by 2.7% from the same period last year, reaching 979 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 267 million yen, a 27.2% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 6.9% in the same period last year to 7.1%.

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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	7,032	146	482	252	19.8	35.1	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	7,397	410	691	472	37.9	42.0	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	7,364	461	581	374	30.5	37.2	Oct 31, 2024	J-GAAP
YoY	-0.4%	+12.4%	-15.9%	-20.8%	-19.4%

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	7,500	450	540	350	28.7	15	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	7,364	461	581	374	30.5	15	Oct 31, 2024	J-GAAP
Revision Rate	-1.8%	+2.4%	+7.6%	+6.9%	+6.2%

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	8,278	821	953	571	45.8	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,936	919	979	663	54.4	25	Oct 31, 2024	J-GAAP
YoY	+7.9%	+11.9%	+2.7%	+16.1%	+18.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,325	828	1,373	842	66.2	40	May 12, 2023	J-GAAP
Mar, 2024	15,675	1,231	1,644	1,043	83.6	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	16,300	1,380	1,560	1,037	85.2	40	May 10, 2024	J-GAAP
YoY	+4.0%	+12.1%	-5.1%	-0.6%	+1.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,730	256	367	255	20.5	6.9	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	4,272	429	454	307	24.6	10.0	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	4,006	392	499	264	21.2	9.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	3,652	196	314	182	14.8	5.4	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,712	265	267	192	15.7	7.1	Oct 31, 2024	J-GAAP
YoY	-0.5%	+3.5%	-27.2%	-24.7%	-23.4%