KANSAI PAINT CO.,LTD., First Half Ordinary Profit Decreases by 19%, July-September Ordinary Profit Decreases by 60%

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Fri Nov 8, 2024 3:30 pm JST Earnings

4613 KANSAI PAINT CO.,LTD. 【J-GAAP】

Earnings Report

KANSAI PAINT CO.,LTD. <4613> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 19.0% from the same period last year to 25.9 billion yen. The progress rate against the 60 billion yen full-year plan was 43.3%, also falling below the five-year average of 49.0%.

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 expand by 32.8% from the same period last year, reaching 34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 6.07 billion yen, a 59.8% decrease compared to the same period last year. The operating profit margin worsened from 9.9% in the same period last year to 7.5%.

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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	250,700	15,762	21,041	12,371	49.8	52.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	274,005	25,734	32,084	46,452	204.3	55.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	294,057	26,336	25,996	15,685	78.7	43.3	Nov 8, 2024	J-GAAP
YoY	+7.3%	+2.3%	-19.0%	-66.2%	-61.5%

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	－	22	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	294,057	26,336	25,996	15,685	78.7	22	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	288,272	25,861	25,601	20,657	92.1	22	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	315,943	29,664	34,004	24,315	136.8	22	Nov 8, 2024	J-GAAP
YoY	+9.6%	+14.7%	+32.8%	+17.7%	+48.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	509,070	32,077	40,216	25,195	104.6	30	May 11, 2023	J-GAAP
Mar, 2024	562,277	51,595	57,685	67,109	299.2	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	610,000	56,000	60,000	40,000	225.1	44	May 10, 2024	J-GAAP
YoY	+8.5%	+8.5%	+4.0%	-40.4%	-24.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	137,569	13,629	15,119	8,843	38.9	9.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	148,289	15,656	12,105	7,491	33.0	10.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	139,983	10,205	13,496	13,166	58.7	7.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	145,397	15,114	19,924	11,873	57.5	10.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	148,660	11,222	6,072	3,812	19.1	7.5	Nov 8, 2024	J-GAAP
YoY	+8.1%	-17.7%	-59.8%	-56.9%	-50.8%