KADOYA SESAME MILLS INCORPORATED, First Half Ordinary Profit Decreases by 5%

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Tue Nov 5, 2024 3:30 pm JST Earnings

2612 KADOYA SESAME MILLS INCORPORATED 【J-GAAP】

Earnings Report

KADOYA SESAME MILLS INCORPORATED <2612> [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 5.4% from the same period last year to 2.06 billion yen. However, The progress rate against the 2.6 billion yen full-year plan was 79.4%, also surpassing the five-year average of 65.4%.

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 significant drop by 56.3% from the same period last year to 536 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 805 million yen, a 31.0% decrease compared to the same period last year. The operating profit margin decreased from 11.3% in the same period last year to 8.9%.

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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	17,164	2,181	2,470	1,707	185.5	76.5	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	18,019	1,979	2,182	1,457	158.4	64.0	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	19,669	2,009	2,064	1,402	152.4	79.4	Nov 5, 2024	J-GAAP
YoY	+9.2%	+1.5%	-5.4%	-3.8%	-3.8%

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	20,000	1,800	1,800	1,250	135.8	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	19,669	2,009	2,064	1,402	152.4	0	Nov 5, 2024	J-GAAP
Revision Rate	-1.7%	+11.6%	+14.7%	+12.2%	+12.2%

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	17,661	1,138	1,227	798	86.8	100	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,831	491	536	598	65.0	85	Nov 5, 2024	J-GAAP
YoY	+6.6%	-56.9%	-56.3%	-25.1%	-25.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	33,690	2,914	3,229	2,219	241.2	100	May 12, 2023	J-GAAP
Mar, 2024	35,680	3,117	3,409	2,255	245.1	100	May 14, 2024	J-GAAP
Mar, 2025 Guidance	38,500	2,500	2,600	2,000	217.3	85	May 14, 2024	J-GAAP
YoY	+7.9%	-19.8%	-23.7%	-11.3%	-11.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,316	1,051	1,167	788	85.7	11.3	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	9,059	868	884	606	65.9	9.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,602	270	343	192	20.9	3.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	9,600	1,112	1,259	849	92.3	11.6	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	10,069	897	805	553	60.1	8.9	Nov 5, 2024	J-GAAP
YoY	+8.1%	-14.7%	-31.0%	-29.8%	-29.8%