KISSEI PHARMACEUTICAL CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 11%

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Tue Nov 5, 2024 4:30 pm JST Earnings

4547 KISSEI PHARMACEUTICAL CO.,LTD. 【J-GAAP】

Earnings Report

KISSEI PHARMACEUTICAL CO.,LTD. <4547> [TSE-P] announced its financial results after the market closed on November 5th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 35.4% from the same period last year to 2.23 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 11.1%, from the previous forecast of 5.4 billion yen to 6 billion yen (compared to 6.14 billion yen in the previous period), and the declining rate is expected to decrease from 12.1% to 2.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 40.6% from the same period last year, reaching 3.76 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 639 million yen (compared to a profit of 753 million yen in the same period last year). The operating profit/loss margin drastically worsened from 2.2% in the same period last year to -1.8%.

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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	32,864	-625	308	3,326	72.1	51.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	36,978	2,015	3,465	5,678	123.7	56.4	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	42,466	1,781	2,237	5,249	118.8	37.3	Nov 5, 2024	J-GAAP
YoY	+14.8%	-11.6%	-35.4%	-7.6%	-4.0%

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	41,000	1,500	2,200	5,200	117.6	45	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	42,466	1,781	2,237	5,249	118.8	45	Nov 5, 2024	J-GAAP
Revision Rate	+3.6%	+18.7%	+1.7%	+0.9%	+1.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	83,000	4,200	5,400	11,300	264.0	90	May 7, 2024	J-GAAP
Mar, 2025 New	86,500	5,000	6,000	11,700	273.3	90	Nov 5, 2024	J-GAAP
Revision Rate	+4.2%	+19.0%	+11.1%	+3.5%	+3.5%

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	38,601	2,002	2,677	5,482	121.1	41	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	44,034	3,219	3,763	6,451	150.7	45	Nov 5, 2024	J-GAAP
YoY	+14.1%	+60.8%	+40.6%	+17.7%	+24.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	67,493	-1,129	598	10,528	228.3	80	May 8, 2023	J-GAAP
Mar, 2024	75,579	4,017	6,142	11,160	246.6	82	May 7, 2024	J-GAAP
Mar, 2025 Guidance	86,500	5,000	6,000	11,700	273.3	90	Nov 5, 2024	J-GAAP
YoY	+14.4%	+24.5%	-2.3%	+4.8%	+10.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,665	382	753	2,413	52.6	2.2	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	20,881	2,149	2,635	2,659	58.3	10.3	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	17,720	-147	42	2,823	62.4	-0.8	May 7, 2024	J-GAAP
Apr - Jun, 2024	21,164	2,158	2,876	4,106	92.9	10.2	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	21,302	-377	-639	1,143	25.9	-1.8	Nov 5, 2024	J-GAAP
YoY	+20.6%	－	－	-52.6%	-50.8%