KANEMATSU CORPORATION, The Current Fiscal Year Net Income Revised Upward by 8%, Adds to Record High Profit Forecast, Dividend Revised Upward by 5 yen

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Fri Nov 1, 2024 1:00 pm JST Earnings

8020 KANEMATSU CORPORATION 【IFRS】

Earnings Report

KANEMATSU CORPORATION <8020> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 1st (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 22.7% from the same period last year, reaching 15.1 billion yen.

In addition, the full-year consolidated net income has been revised upward by 8.0%, from the previous forecast of 25 billion yen to 27 billion yen (compared to 23.2 billion yen in the previous period), increasing the growth rate from 7.7% to 16.3%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 9.1% from the same period last year, reaching 11.8 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 100 yen to 105 yen (compared to 90 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 11.2% from the same period last year, reaching 7.67 billion yen. However, the operating profit margin remained almost flat, changing from 5.1% in the same period last year to 5.1%.

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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	449,459	22,052	21,382	12,212	146.2	59.9	Nov 4, 2022	IFRS
Apr - Sep, 2023	474,129	22,407	20,373	12,339	147.7	54.7	Nov 2, 2023	IFRS
Apr - Sep, 2024	518,573	25,419	23,271	15,135	181.1	58.2	Nov 1, 2024	IFRS
YoY	+9.4%	+13.4%	+14.2%	+22.7%	+22.6%

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	ー	ー	ー	ー	－	50	May 7, 2024	IFRS
Apr - Sep, 2024 Results	518,573	25,419	23,271	15,135	181.1	52.50	Nov 1, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,100,000	42,500	38,000	25,000	299.1	100	May 7, 2024	IFRS
Mar, 2025 New	1,100,000	44,500	40,000	27,000	323.0	105	Nov 1, 2024	IFRS
Revision Rate	0.0%	+4.7%	+5.3%	+8.0%	+8.0%

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	511,864	21,463	16,868	10,879	130.2	45	May 7, 2024	IFRS
Oct - Mar, 2024 Guidance	581,427	19,081	16,729	11,865	141.9	52.50	Nov 1, 2024	IFRS
YoY	+13.6%	-11.1%	-0.8%	+9.1%	+9.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	911,408	38,896	35,696	18,575	222.4	75	May 9, 2023	IFRS
Mar, 2024	985,993	43,870	37,241	23,218	277.9	90	May 7, 2024	IFRS
Mar, 2025 Guidance	1,100,000	44,500	40,000	27,000	323.0	105	Nov 1, 2024	IFRS
YoY	+11.6%	+1.4%	+7.4%	+16.3%	+16.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	249,637	12,840	11,501	6,899	82.6	5.1	Nov 2, 2023	IFRS
Oct - Dec, 2023	251,916	10,725	7,507	4,216	50.5	4.3	Feb 6, 2024	IFRS
Jan - Mar, 2024	259,948	10,738	9,361	6,663	79.8	4.1	May 7, 2024	IFRS
Apr - Jun, 2024	251,011	11,770	11,435	7,460	89.3	4.7	Aug 2, 2024	IFRS
Jul - Sep, 2024	267,562	13,649	11,836	7,675	91.8	5.1	Nov 1, 2024	IFRS
YoY	+7.2%	+6.3%	+2.9%	+11.2%	+11.2%