KURABO INDUSTRIES LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 13%, Current Fiscal Year Dividend Revised Upward by 30 yen

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Thu Nov 7, 2024 1:30 pm JST Earnings

3106 KURABO INDUSTRIES LTD. 【J-GAAP】

Earnings Report

KURABO INDUSTRIES LTD. <3106> [TSE-P] announced its financial results in the afternoon session on November 7th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 12.7% from the same period last year, reaching 5.1 billion yen, resulting in an increase in profits compared to the previous forecast of a 7.2% decrease.

The progress rate against the 10.8 billion yen full-year plan was 47.2%, exceeding the five-year average of 40.2%.

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 nearly flat at 5.7 billion yen, up 0.6% from the same period last year.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 120 yen to 150 yen (compared to 100 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.19 billion yen, a 26.4% decrease compared to the same period last year. The operating profit margin worsened from 7.4% in the same period last year to 6.0%.

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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	72,043	3,405	4,647	3,264	167.2	46.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	72,653	3,877	4,525	2,522	134.1	44.4	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	71,845	4,241	5,100	3,425	193.1	47.2	Nov 7, 2024	J-GAAP
YoY	-1.1%	+9.4%	+12.7%	+35.8%	+44.1%

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	70,000	3,300	4,200	2,700	153.5	60	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	71,845	4,241	5,100	3,425	193.1	60	Nov 7, 2024	J-GAAP
Revision Rate	+2.6%	+28.5%	+21.4%	+26.9%	+25.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	154,000	9,600	10,800	7,500	436.1	120	Aug 7, 2024	J-GAAP
Mar, 2025 New	154,000	9,600	10,800	7,500	436.1	150	Nov 7, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	78,661	5,309	5,666	4,216	226.8	60	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	82,155	5,359	5,700	4,075	237.0	90	Nov 7, 2024	J-GAAP
YoY	+4.4%	+0.9%	+0.6%	-3.3%	+4.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	153,522	8,676	10,024	5,516	287.1	70	May 11, 2023	J-GAAP
Mar, 2024	151,314	9,186	10,191	6,738	362.5	100	May 13, 2024	J-GAAP
Mar, 2025 Guidance	154,000	9,600	10,800	7,500	436.1	150	Nov 7, 2024	J-GAAP
YoY	+1.8%	+4.5%	+6.0%	+11.3%	+20.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	39,315	2,902	2,975	1,565	83.2	7.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	40,321	2,431	2,906	2,175	116.0	6.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	38,340	2,878	2,760	2,041	109.8	7.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	35,878	2,068	2,909	1,938	108.7	5.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	35,967	2,173	2,191	1,487	83.9	6.0	Nov 7, 2024	J-GAAP
YoY	-8.5%	-25.1%	-26.4%	-5.0%	+0.8%