Keio Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 21%, Adds to Record High Profit Forecast, Dividend Revised Upward by 30 yen

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Wed Nov 6, 2024 3:30 pm JST Earnings

9008 Keio Corporation 【J-GAAP】

Earnings Report

Keio Corporation <9008> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 31.2 billion yen, an increase of 32.3% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 21.0%, from the previous forecast of 44.3 billion yen to 53.6 billion yen (compared to 43.4 billion yen in the previous period), increasing the growth rate from 1.9% to 23.3%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 grow by 12.5% from the same period last year, reaching 22.3 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 70 yen to 100 yen (compared to 52.5 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 23.9% from the same period last year, reaching 14.1 billion yen. The operating profit margin rose from 12.5% in the same period last year to 13.6%.

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	158,826	9,416	9,572	4,247	34.8	44.0	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	184,058	23,908	23,581	17,214	141.0	54.2	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	214,189	31,734	31,205	25,124	205.8	58.2	Nov 6, 2024	J-GAAP
YoY	+16.4%	+32.7%	+32.3%	+46.0%	+45.9%

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	－	35	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	214,189	31,734	31,205	25,124	205.8	50	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	454,000	46,000	44,300	34,200	281.5	70	May 10, 2024	J-GAAP
Mar, 2025 New	470,000	55,000	53,600	41,000	337.4	100	Nov 6, 2024	J-GAAP
Revision Rate	+3.5%	+19.6%	+21.0%	+19.9%	+19.9%

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	224,636	19,932	19,904	12,029	98.5	30	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	255,811	23,266	22,395	15,876	130.7	50	Nov 6, 2024	J-GAAP
YoY	+13.9%	+16.7%	+12.5%	+32.0%	+32.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	347,133	21,479	21,772	13,114	107.4	40	May 12, 2023	J-GAAP
Mar, 2024	408,694	43,840	43,485	29,243	239.5	52.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	470,000	55,000	53,600	41,000	337.4	100	Nov 6, 2024	J-GAAP
YoY	+15.0%	+25.5%	+23.3%	+40.2%	+40.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	95,294	11,935	11,447	8,389	68.7	12.5	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	109,998	15,592	15,828	8,148	66.7	14.2	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	114,638	4,340	4,076	3,881	31.8	3.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	104,720	16,892	17,025	14,548	119.1	16.1	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	109,469	14,842	14,180	10,576	86.6	13.6	Nov 6, 2024	J-GAAP
YoY	+14.9%	+24.4%	+23.9%	+26.1%	+26.1%