KAWAMOTO CORPORATION, First Half Ordinary Profit Unexpectedly Revised Upward by 56%

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Tue Nov 5, 2024 3:20 pm JST Earnings

3604 KAWAMOTO CORPORATION 【J-GAAP】

Earnings Report

KAWAMOTO CORPORATION <3604> [TSE-S] announced its financial results in the afternoon session on November 5th (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 339 million yen, an increase of 55.5% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 8.3% decrease.

The progress rate against the 650 million yen full-year plan was 52.2%, also surpassing the five-year average of 43.5%.

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 decrease by 9.9% from the same period last year to 311 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 4.5% from the same period last year, reaching 211 million yen. The operating profit margin improved from 1.9% in the same period last year to 2.8%.

Kabutan News

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	15,130	278	340	217	37.5	41.3	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	14,604	100	218	178	30.8	38.7	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	16,229	304	339	238	41.2	52.2	Nov 5, 2024	J-GAAP
YoY	+11.1%	+204.0%	+55.5%	+33.7%	+33.5%

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	15,100	170	200	140	24.2	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	16,229	304	339	238	41.2	0	Nov 5, 2024	J-GAAP
Revision Rate	+7.5%	+78.8%	+69.5%	+70.0%	+70.4%

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	15,027	310	345	223	38.6	18	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,771	196	311	217	37.4	20	Nov 5, 2024	J-GAAP
YoY	-1.7%	-36.8%	-9.9%	-2.7%	-2.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	30,403	692	824	747	129.0	16	May 9, 2023	J-GAAP
Mar, 2024	29,631	410	563	401	69.3	18	May 8, 2024	J-GAAP
Mar, 2025 Guidance	31,000	500	650	455	78.5	20	May 8, 2024	J-GAAP
YoY	+4.6%	+22.0%	+15.5%	+13.5%	+13.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,282	139	202	136	23.6	1.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	7,701	220	225	152	26.3	2.9	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	7,326	90	120	71	12.3	1.2	May 8, 2024	J-GAAP
Apr - Jun, 2024	8,009	72	128	57	9.9	0.9	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	8,220	232	211	181	31.3	2.8	Nov 5, 2024	J-GAAP
YoY	+12.9%	+66.9%	+4.5%	+33.1%	+32.9%