KOBAYASHI PHARMACEUTICAL CO.,LTD., The Current Fiscal Year Net Income Revised Downward by 12%

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Fri Nov 8, 2024 3:30 pm JST Earnings

4967 KOBAYASHI PHARMACEUTICAL CO.,LTD. 【J-GAAP】

Earnings Report

KOBAYASHI PHARMACEUTICAL CO.,LTD. <4967> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 65.5% from the same period last year to 5.34 billion yen.

In addition, the full-year consolidated net income has downwardly by 11.6%, from the previous forecast of 12.1 billion yen to 10.7 billion yen (compared to 20.3 billion yen in the previous period), leading to an increase in the profit decline rate from 40.5% to 47.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the July to December period (second half) has downwardly by 13.1%, from the previous forecast of 10.6 billion yen to 9.26 billion yen (compared to 12.4 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 14.5% to 25.7%.

In the most recent three-month period, from July to September (3Q), the consolidated net income dropped to 3.9 billion yen, a 48.8% decrease compared to the same period last year. The operating profit margin decreased from 19.7% in the same period last year to 18.2%.

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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	114,279	18,749	20,433	14,500	187.5	72.2	Nov 1, 2022	J-GAAP
Jan - Sep, 2023	119,115	19,387	20,837	15,498	203.6	76.2	Nov 7, 2023	J-GAAP
Jan - Sep, 2024	114,459	16,976	17,921	5,344	71.9	70.3	Nov 8, 2024	J-GAAP
YoY	-3.9%	-12.4%	-14.0%	-65.5%	-64.7%

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	95,864	14,529	15,066	10,664	143.5	59	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 New	95,864	14,529	15,066	9,264	124.6	59	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-13.1%	-13.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	169,000	24,000	25,500	12,100	162.8	102	Aug 8, 2024	J-GAAP
Dec, 2024 New	169,000	24,000	25,500	10,700	143.9	102	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-11.6%	-11.6%

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	99,830	15,374	16,156	12,474	164.5	58	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	95,864	14,529	15,066	9,264	124.6	59	Nov 8, 2024	J-GAAP
YoY	-4.0%	-5.5%	-6.7%	-25.7%	-24.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	166,258	26,669	28,281	20,022	259.6	90	Feb 14, 2023	J-GAAP
Dec, 2023	173,455	25,780	27,330	20,338	268.2	101	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	169,000	24,000	25,500	10,700	143.9	102	Nov 8, 2024	J-GAAP
YoY	-2.6%	-6.9%	-6.7%	-47.4%	-46.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	45,490	8,981	9,663	7,634	100.3	19.7	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	54,340	6,393	6,493	4,840	63.8	11.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	36,485	5,028	5,461	976	13.1	13.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	36,651	4,443	4,973	460	6.2	12.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	41,323	7,505	7,487	3,908	52.6	18.2	Nov 8, 2024	J-GAAP
YoY	-9.2%	-16.4%	-22.5%	-48.8%	-47.6%