KING CO.,Ltd., First Half Ordinary Profit Decreases by 22%, July-September Ordinary Profit Decreases by 18%

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Tue Nov 5, 2024 3:30 pm JST Earnings

8118 KING CO.,Ltd. 【J-GAAP】

Earnings Report

KING CO.,Ltd. <8118> [TSE-S] 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) decreased by 22.0% from the same period last year to 384 million yen. The progress rate against the 1.18 billion yen full-year plan was 32.5%, also falling below the five-year average of 43.3%.

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 expand by 40.1% from the same period last year, reaching 796 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 127 million yen, a 17.5% decrease compared to the same period last year. The operating profit margin worsened from 7.1% in the same period last year to 6.2%.

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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	3,977	436	468	311	18.4	41.5	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	4,071	454	492	328	20.3	46.4	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	3,876	340	384	355	22.2	32.5	Nov 5, 2024	J-GAAP
YoY	-4.8%	-25.1%	-22.0%	+8.2%	+9.7%

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	－	0	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	3,876	340	384	355	22.2	0	Nov 5, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	4,477	539	568	205	12.7	18	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,824	780	796	425	26.6	18	Nov 5, 2024	J-GAAP
YoY	+7.8%	+44.7%	+40.1%	+107.3%	+109.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,422	1,073	1,129	755	45.3	17	May 8, 2023	J-GAAP
Mar, 2024	8,548	993	1,060	533	33.0	18	May 7, 2024	J-GAAP
Mar, 2025 Guidance	8,700	1,120	1,180	780	48.8	18	May 7, 2024	J-GAAP
YoY	+1.8%	+12.8%	+11.3%	+46.3%	+47.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,125	150	154	103	6.4	7.1	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	2,146	299	327	103	6.4	13.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	2,331	240	241	102	6.3	10.3	May 7, 2024	J-GAAP
Apr - Jun, 2024	1,880	217	257	153	9.6	11.5	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	1,996	123	127	202	12.6	6.2	Nov 5, 2024	J-GAAP
YoY	-6.1%	-18.0%	-17.5%	+96.1%	+98.7%