The Kaneshita Construction Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 70%

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Thu Nov 7, 2024 11:30 am JST Earnings

1897 The Kaneshita Construction Co.,Ltd. 【J-GAAP】

Earnings Report

The Kaneshita Construction Co.,Ltd. <1897> [TSE-S] announced its financial results at noon (11:30) on November 7th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 378 million yen, an increase of 34.5% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 70.0%, from the previous forecast of 200 million yen to 340 million yen (compared to 413 million yen in the previous period), and the declining rate is expected to decrease from 51.6% to 17.7%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised upward from an expected loss of 224 million yen to a loss of 84 million yen (compared to a profit of 258 million yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 46 million yen (compared to a profit of 126 million yen in the same period last year). The operating profit/loss margin drastically worsened from 3.7% in the same period last year to -3.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	7,220	76	184	118	54.9	64.1	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	7,287	154	281	181	84.0	68.0	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	7,693	254	378	247	114.4	111.2	Nov 7, 2024	J-GAAP
YoY	+5.6%	+64.9%	+34.5%	+36.5%	+36.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	4,337	-251	-224	-149	-69.1	50	Aug 2, 2024	J-GAAP
Jul - Dec, 2024 New	4,337	-161	-84	-59	-27.4	50	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	+35.9%	+62.5%	+60.4%	+60.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	10,000	70	200	120	55.7	50	Aug 2, 2024	J-GAAP
Dec, 2024 New	10,000	160	340	210	97.4	50	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	+128.6%	+70.0%	+75.0%	+75.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	6,068	184	258	179	83.0	50	Feb 8, 2024	J-GAAP
Jul - Dec, 2024 Guidance	4,337	-161	-84	-59	-27.4	50	Nov 7, 2024	J-GAAP
YoY	-28.5%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	9,898	146	287	190	88.4	50	Feb 10, 2023	J-GAAP
Dec, 2023	10,659	238	413	270	125.1	50	Feb 8, 2024	J-GAAP
Dec, 2024 Guidance	10,000	160	340	210	97.4	50	Nov 7, 2024	J-GAAP
YoY	-6.2%	-32.8%	-17.7%	-22.2%	-22.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,696	100	126	90	41.8	3.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,372	84	132	89	41.3	2.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	3,763	389	392	242	112.1	10.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,900	-68	32	27	12.5	-3.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	2,030	-67	-46	-22	-10.2	-3.3	Nov 7, 2024	J-GAAP
YoY	-24.7%	－	－	－	－