Kotobuki Spirits Co.,Ltd., First Half Ordinary Profit Increases by 13%, July-September Ordinary Profit Increases by 14%

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Tue Nov 5, 2024 3:30 pm JST Earnings

2222 Kotobuki Spirits Co.,Ltd. 【J-GAAP】

Earnings Report

Kotobuki Spirits Co.,Ltd. <2222> [TSE-P] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 12.8% from the same period last year, reaching 7.52 billion yen. However, The progress rate against the 17.6 billion yen full-year plan was 42.7%, almost the same as the five-year average of 42.2%.

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 9.6% from the same period last year, reaching 10 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 13.6% from the same period last year, reaching 4.07 billion yen. However, the operating profit margin decreased from 23.7% in the same period last year to 23.3%.

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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	20,099	2,830	3,055	1,994	12.8	29.7	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	28,891	6,622	6,668	4,453	28.6	42.0	Nov 1, 2023	J-GAAP
Apr - Sep, 2024	32,906	7,476	7,520	4,990	32.1	42.7	Nov 5, 2024	J-GAAP
YoY	+13.9%	+12.9%	+12.8%	+12.1%	+12.1%

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	32,000	7,420	7,455	4,940	31.7	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	32,906	7,476	7,520	4,990	32.1	0	Nov 5, 2024	J-GAAP
Revision Rate	+2.8%	+0.8%	+0.9%	+1.0%	+1.0%

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	35,144	9,158	9,199	6,378	41.0	28	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	37,094	10,054	10,080	6,810	43.8	28	Nov 5, 2024	J-GAAP
YoY	+5.5%	+9.8%	+9.6%	+6.8%	+6.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	50,155	9,951	10,295	7,018	45.1	14	May 15, 2023	J-GAAP
Mar, 2024	64,035	15,780	15,867	10,831	69.6	28	May 14, 2024	J-GAAP
Mar, 2025 Guidance	70,000	17,530	17,600	11,800	75.8	28	May 14, 2024	J-GAAP
YoY	+9.3%	+11.1%	+10.9%	+8.9%	+8.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,038	3,564	3,585	2,385	15.3	23.7	Nov 1, 2023	J-GAAP
Oct - Dec, 2023	18,145	5,112	5,130	3,446	22.2	28.2	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	16,999	4,046	4,069	2,932	18.8	23.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	15,526	3,428	3,447	2,265	14.6	22.1	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	17,380	4,048	4,073	2,725	17.5	23.3	Nov 5, 2024	J-GAAP
YoY	+15.6%	+13.6%	+13.6%	+14.3%	+14.2%