KYUSHU LEASING SERVICE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 6 yen

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Wed Nov 6, 2024 2:30 pm JST Earnings

8596 KYUSHU LEASING SERVICE CO.,LTD. 【J-GAAP】

Earnings Report

KYUSHU LEASING SERVICE CO.,LTD. <8596> [TSE-S] announced its financial results in the afternoon session on November 6th (14:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.1% from the same period last year, reaching 3.3 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.5%, from the previous forecast of 4.7 billion yen to 5.1 billion yen (compared to 4.59 billion yen in the previous period), increasing the growth rate from 2.3% to 11.0%.

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 decrease by 8.0% from the same period last year to 1.79 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 34 yen to 40 yen (compared to 30 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.4 billion yen, a 2.0% decrease compared to the same period last year. However, the operating profit margin jumped from 15.5% in the same period last year to 20.4%.

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	17,340	2,409	2,421	3,752	165.1	44.7	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	16,368	2,661	2,640	1,799	79.1	57.5	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	21,365	3,374	3,303	2,050	90.9	64.8	Nov 6, 2024	J-GAAP
YoY	+30.5%	+26.8%	+25.1%	+14.0%	+14.9%

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	－	17	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	21,365	3,374	3,303	2,050	90.9	17	Nov 6, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	34,500	4,800	4,700	3,200	141.8	34	May 8, 2024	J-GAAP
Mar, 2025 New	38,500	5,300	5,100	3,400	150.6	40	Nov 6, 2024	J-GAAP
Revision Rate	+11.6%	+10.4%	+8.5%	+6.3%	+6.3%

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	17,140	1,974	1,953	1,249	55.0	17.50	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	17,135	1,926	1,797	1,350	59.8	23	Nov 6, 2024	J-GAAP
YoY	0.0%	-2.4%	-8.0%	+8.1%	+8.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	36,807	5,477	5,422	5,862	257.9	25.50	May 10, 2023	J-GAAP
Mar, 2024	33,508	4,635	4,593	3,048	134.1	30	May 8, 2024	J-GAAP
Mar, 2025 Guidance	38,500	5,300	5,100	3,400	150.6	40	Nov 6, 2024	J-GAAP
YoY	+14.9%	+14.3%	+11.0%	+11.5%	+12.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,405	1,458	1,430	980	43.1	15.5	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	7,943	1,213	1,180	806	35.5	15.3	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	9,197	761	773	443	19.5	8.3	May 8, 2024	J-GAAP
Apr - Jun, 2024	14,053	1,879	1,902	1,134	50.3	13.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	7,312	1,495	1,401	916	40.6	20.4	Nov 6, 2024	J-GAAP
YoY	-22.3%	+2.5%	-2.0%	-6.5%	-5.8%