Kurimoto,Ltd., The Current Fiscal Year Net Income Revised Upward to an Unexpected 1% Increase, Adds to Record High Profit, Dividend Revised Upward by 21 yen

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Fri Nov 1, 2024 1:40 pm JST Earnings

5602 Kurimoto,Ltd. 【J-GAAP】

Earnings Report

Kurimoto,Ltd. <5602> [TSE-P] announced its financial results in the afternoon session on November 1st (13:40). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 13.2% from the same period last year to 2.5 billion yen.

However, the full-year consolidated net income has been revised upward by 10.0%, from the previous forecast of 5 billion yen to 5.5 billion yen (compared to 5.47 billion yen in the previous period), record profits reach three consecutive terms, turning to a 0.5% increase in the consolidated net income outlook.

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 15.9% from the same period last year, reaching 2.99 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 208 yen to 229 yen (compared to 170 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 1.54 billion yen, a 21.4% decrease compared to the same period last year. The operating profit margin worsened from 7.6% in the same period last year to 6.5%.

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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	54,054	2,277	2,350	1,633	133.9	34.2	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	59,951	3,693	4,032	2,883	237.7	51.6	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	58,911	2,967	3,192	2,502	206.4	44.3	Nov 1, 2024	J-GAAP
YoY	-1.7%	-19.7%	-20.8%	-13.2%	-13.2%

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	60,000	2,500	2,600	2,000	164.9	104	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	58,911	2,967	3,192	2,502	206.4	104	Nov 1, 2024	J-GAAP
Revision Rate	-1.8%	+18.7%	+22.8%	+25.1%	+25.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	124,000	7,000	7,200	5,000	412.3	208	May 14, 2024	J-GAAP
Mar, 2025 New	124,000	7,000	7,200	5,500	453.5	229	Nov 1, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+10.0%	+10.0%

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	65,974	3,767	3,784	2,587	213.8	120	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	65,089	4,033	4,008	2,998	247.2	125	Nov 1, 2024	J-GAAP
YoY	-1.3%	+7.1%	+5.9%	+15.9%	+15.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	124,827	6,840	6,868	4,727	387.3	90	May 12, 2023	J-GAAP
Mar, 2024	125,925	7,460	7,816	5,470	452.1	170	May 14, 2024	J-GAAP
Mar, 2025 Guidance	124,000	7,000	7,200	5,500	453.5	229	Nov 1, 2024	J-GAAP
YoY	-1.5%	-6.2%	-7.9%	+0.5%	+0.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	32,224	2,458	2,780	1,960	161.6	7.6	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	35,317	3,207	2,998	2,105	174.1	9.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	30,657	560	786	482	39.8	1.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	27,729	953	1,008	961	79.4	3.4	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	31,182	2,014	2,184	1,541	127.1	6.5	Nov 1, 2024	J-GAAP
YoY	-3.2%	-18.1%	-21.4%	-21.4%	-21.3%