Kanadevia Corporation, First Half Net Income Turns to Loss, July-September Net Income Decreases by 25%

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Thu Nov 7, 2024 3:30 pm JST Earnings

7004 Kanadevia Corporation 【J-GAAP】

Earnings Report

Kanadevia Corporation <7004> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 1.13 billion yen (compared to a profit of 350 million yen in the same period last year).

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 2.6% from the same period last year, reaching 19.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 1.67 billion yen, a 25.1% decrease compared to the same period last year. The operating profit margin worsened from 3.4% in the same period last year to 2.7%.

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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	207,234	148	-2,755	-3,206	-19.0	ー	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	232,192	1,116	1,910	350	2.1	7.4	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	269,960	3,163	639	-1,139	-6.8	2.9	Nov 7, 2024	J-GAAP
YoY	+16.3%	+183.4%	-66.5%	－	－

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	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	269,960	3,163	639	-1,139	-6.8	0	Nov 7, 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	570,000	26,000	22,000	18,000	107.0	23	Oct 23, 2024	J-GAAP
Mar, 2025 New	590,000	26,000	22,000	18,000	107.0	23	Nov 7, 2024	J-GAAP
Revision Rate	+3.5%	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	323,652	23,207	23,736	18,649	110.7	23	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	320,040	22,837	21,361	19,139	113.8	23	Nov 7, 2024	J-GAAP
YoY	-1.1%	-1.6%	-10.0%	+2.6%	+2.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	492,692	20,056	17,834	15,577	92.4	18	May 12, 2023	J-GAAP
Mar, 2024	555,844	24,323	25,646	18,999	112.7	23	May 10, 2024	J-GAAP
Mar, 2025 Guidance	590,000	26,000	22,000	18,000	107.0	23	Nov 7, 2024	J-GAAP
YoY	+6.1%	+6.9%	-14.2%	-5.3%	-5.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	129,717	4,440	4,047	2,236	13.3	3.4	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	140,125	8,395	7,237	5,608	33.3	6.0	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	183,527	14,812	16,499	13,041	77.4	8.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	121,563	-878	-2,062	-2,813	-16.7	-0.7	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	148,397	4,041	2,701	1,674	10.0	2.7	Nov 7, 2024	J-GAAP
YoY	+14.4%	-9.0%	-33.3%	-25.1%	-25.1%