KYORITSU CO.,LTD., First Half Ordinary Profit Decreases by 18%, July-September Ordinary Profit Decreases by 4%

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Thu Oct 31, 2024 3:00 pm JST Earnings

7795 KYORITSU CO.,LTD. 【J-GAAP】

Earnings Report

KYORITSU CO.,LTD. <7795> [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 18.2% from the same period last year to 509 million yen. The progress rate against the 1.6 billion yen full-year plan was 31.8%, also falling below the five-year average of 40.9%.

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 21.5% from the same period last year, reaching 1.09 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 241 million yen, a 4.4% decrease compared to the same period last year. The operating profit margin worsened from 3.3% in the same period last year to 3.0%.

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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	18,935	600	553	325	7.3	45.3	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	18,630	675	622	342	7.8	40.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	18,144	556	509	275	6.3	31.8	Oct 31, 2024	J-GAAP
YoY	-2.6%	-17.6%	-18.2%	-19.6%	-19.9%

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	18,540	630	570	340	7.8	3.50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	18,144	556	509	275	6.3	3.50	Oct 31, 2024	J-GAAP
Revision Rate	-2.1%	-11.7%	-10.7%	-19.1%	-19.3%

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	21,392	969	898	565	12.9	4	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	22,156	1,144	1,091	725	16.6	3.50	Oct 31, 2024	J-GAAP
YoY	+3.6%	+18.1%	+21.5%	+28.3%	+28.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	40,263	1,330	1,222	456	10.4	6	May 15, 2023	J-GAAP
Mar, 2024	40,022	1,644	1,520	907	20.7	7	May 15, 2024	J-GAAP
Mar, 2025 Guidance	40,300	1,700	1,600	1,000	22.9	7	May 15, 2024	J-GAAP
YoY	+0.7%	+3.4%	+5.3%	+10.3%	+10.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,875	293	252	102	2.3	3.3	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	10,829	539	516	326	7.5	5.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	10,563	430	382	239	5.5	4.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	9,010	282	268	165	3.8	3.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	9,134	274	241	110	2.5	3.0	Oct 31, 2024	J-GAAP
YoY	+2.9%	-6.5%	-4.4%	+7.8%	+7.3%