Keihan Holdings Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 11%, Adds to Record High Profit Forecast

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Fri Nov 8, 2024 3:30 pm JST Earnings

9045 Keihan Holdings Co.,Ltd. 【J-GAAP】

Earnings Report

Keihan Holdings Co.,Ltd. <9045> [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) expanded to 22.4 billion yen, an increase of 33.5% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 10.9%, from the previous forecast of 34 billion yen to 37.7 billion yen (compared to 33.1 billion yen in the previous period), increasing the growth rate from 2.7% to 13.9%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 6.5% from the same period last year to 15.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 23.0% from the same period last year, reaching 9.66 billion yen. The operating profit margin rose from 11.9% in the same period last year to 13.0%.

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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	123,143	10,174	10,539	10,506	98.0	51.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	133,867	17,172	16,845	14,484	135.1	50.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	158,374	22,757	22,485	15,619	145.7	59.6	Nov 8, 2024	J-GAAP
YoY	+18.3%	+32.5%	+33.5%	+7.8%	+7.8%

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	155,100	20,100	19,600	13,800	128.7	0	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	158,374	22,757	22,485	15,619	145.7	0	Nov 8, 2024	J-GAAP
Revision Rate	+2.1%	+13.2%	+14.7%	+13.2%	+13.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	306,000	35,500	34,000	25,500	245.5	40	May 10, 2024	J-GAAP
Mar, 2025 New	311,900	39,200	37,700	26,500	255.1	40	Nov 8, 2024	J-GAAP
Revision Rate	+1.9%	+10.4%	+10.9%	+3.9%	+3.9%

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	168,280	16,732	16,266	10,406	97.1	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	153,526	16,443	15,215	10,881	104.8	40	Nov 8, 2024	J-GAAP
YoY	-8.8%	-1.7%	-6.5%	+4.6%	+7.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	260,070	20,491	20,458	17,621	164.4	30	May 11, 2023	J-GAAP
Mar, 2024	302,147	33,904	33,111	24,890	232.1	35	May 10, 2024	J-GAAP
Mar, 2025 Guidance	311,900	39,200	37,700	26,500	255.1	40	Nov 8, 2024	J-GAAP
YoY	+3.2%	+15.6%	+13.9%	+6.5%	+9.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	68,444	8,112	7,856	5,641	52.6	11.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	71,663	10,909	10,708	7,129	66.5	15.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	96,617	5,823	5,558	3,277	30.6	6.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	80,952	12,713	12,822	9,085	84.7	15.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	77,422	10,044	9,663	6,534	60.9	13.0	Nov 8, 2024	J-GAAP
YoY	+13.1%	+23.8%	+23.0%	+15.8%	+15.8%