KAMEI CORPORATION, First Half Ordinary Profit Decreases by 6%

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Thu Nov 7, 2024 3:30 pm JST Earnings

8037 KAMEI CORPORATION 【J-GAAP】

Earnings Report

KAMEI CORPORATION <8037> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.3% from the same period last year to 7.28 billion yen. The progress rate against the 16 billion yen full-year plan was 45.5%, which was higher than the five-year average of 39.4%.

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 decrease by 6.0% from the same period last year to 8.71 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 3.47 billion yen, a 2.8% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.6% in the same period last year to 2.5%.

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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	245,495	6,771	7,504	4,870	144.9	45.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	262,013	7,223	7,781	4,765	141.8	45.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	256,805	6,389	7,287	4,374	131.8	45.5	Nov 7, 2024	J-GAAP
YoY	-2.0%	-11.5%	-6.3%	-8.2%	-7.1%

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	254,000	6,000	6,700	4,000	122.0	28	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	256,805	6,389	7,287	4,374	131.8	28	Nov 7, 2024	J-GAAP
Revision Rate	+1.1%	+6.5%	+8.8%	+9.4%	+8.0%

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	310,220	8,448	9,272	5,346	159.1	26	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	312,195	8,311	8,713	5,126	156.3	28	Nov 7, 2024	J-GAAP
YoY	+0.6%	-1.6%	-6.0%	-4.1%	-1.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	551,245	15,619	16,668	8,562	254.8	40.50	May 11, 2023	J-GAAP
Mar, 2024	572,233	15,671	17,053	10,111	300.9	48	May 13, 2024	J-GAAP
Mar, 2025 Guidance	569,000	14,700	16,000	9,500	289.6	56	May 13, 2024	J-GAAP
YoY	-0.6%	-6.2%	-6.2%	-6.0%	-3.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	129,392	3,345	3,576	2,069	61.6	2.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	149,674	3,549	4,012	2,110	62.8	2.4	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	160,546	4,899	5,260	3,236	96.3	3.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	130,225	3,263	3,810	2,235	66.6	2.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	126,580	3,126	3,477	2,139	64.4	2.5	Nov 7, 2024	J-GAAP
YoY	-2.2%	-6.5%	-2.8%	+3.4%	+4.6%