KITOKU SHINRYO CO., LTD., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 7%

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Thu Nov 7, 2024 3:30 pm JST Earnings

2700 KITOKU SHINRYO CO., LTD. 【J-GAAP】

Earnings Report

KITOKU SHINRYO CO., LTD. <2700> [TSE-S] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 7.2% from the same period last year to 1.74 billion yen. The progress rate against the 2 billion yen full-year plan was 87.4%, below the five-year average of 94.8%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to decrease by 6.3% from the same period last year to 253 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 26.9% from the same period last year, reaching 575 million yen. The operating profit margin improved from 1.8% in the same period last year to 2.2%.

Kabutan News

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	78,717	998	996	807	498.3	72.6	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	83,957	1,839	1,883	1,238	764.7	87.5	Nov 2, 2023	J-GAAP
Jan - Sep, 2024	87,044	1,669	1,747	1,235	761.5	87.4	Nov 7, 2024	J-GAAP
YoY	+3.7%	-9.2%	-7.2%	-0.2%	-0.4%

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	58,002	702	723	498	307.5	50	Feb 15, 2024	J-GAAP
Jul - Dec, 2024 Guidance	58,810	841	828	469	287.0	70	Oct 24, 2024	J-GAAP
YoY	+1.4%	+19.8%	+14.5%	-5.8%	-6.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	104,704	1,316	1,371	1,038	641.0	60	Feb 16, 2023	J-GAAP
Dec, 2023	114,835	2,061	2,153	1,478	912.7	80	Feb 15, 2024	J-GAAP
Dec, 2024 Guidance	118,000	1,900	2,000	1,300	795.6	100	Oct 24, 2024	J-GAAP
YoY	+2.8%	-7.8%	-7.1%	-12.0%	-12.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,124	480	453	258	159.4	1.8	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	30,878	222	270	240	148.2	0.7	Feb 15, 2024	J-GAAP
Jan - Mar, 2024	29,961	414	432	339	209.5	1.4	May 8, 2024	J-GAAP
Apr - Jun, 2024	29,229	645	740	492	303.6	2.2	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	27,854	610	575	404	249.1	2.2	Nov 7, 2024	J-GAAP
YoY	+2.7%	+27.1%	+26.9%	+56.6%	+56.3%