KNC Laboratories Co., Ltd., First Half Ordinary Profit Decreases by 86%, July-September Ordinary Profit Turns to Loss

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Fri Nov 8, 2024 3:30 pm JST Earnings

6568 KNC Laboratories Co., Ltd. 【J-GAAP】

Earnings Report

KNC Laboratories Co., Ltd. <6568> [TSE-G] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 86.5% from the same period last year to 86 million yen. The progress rate against the 1.38 billion yen full-year plan was 6.2%, also falling below the five-year average of 24.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 11.3% from the same period last year to 1.29 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a loss of 1 million yen (compared to a profit of 227 million yen in the same period last year). The operating profit/loss margin drastically worsened from 14.1% in the same period last year to -0.5%.

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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	2,726	421	444	307	39.9	20.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	3,372	628	635	440	57.2	30.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	3,322	76	86	54	7.1	6.2	Nov 8, 2024	J-GAAP
YoY	-1.5%	-87.9%	-86.5%	-87.7%	-87.6%

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	－	16	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	3,322	76	86	54	7.1	16	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	5,782	1,453	1,459	1,053	136.5	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,678	1,304	1,294	906	117.2	17	Nov 8, 2024	J-GAAP
YoY	-1.8%	-10.3%	-11.3%	-14.0%	-14.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,628	2,163	2,199	1,542	200.1	28	May 12, 2023	J-GAAP
Mar, 2024	9,154	2,081	2,094	1,493	193.5	30	May 13, 2024	J-GAAP
Mar, 2025 Guidance	9,000	1,380	1,380	960	124.2	33	May 13, 2024	J-GAAP
YoY	-1.7%	-33.7%	-34.1%	-35.7%	-35.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,593	224	227	154	20.0	14.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,812	222	229	155	20.1	12.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,970	1,231	1,230	898	116.4	31.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,405	85	87	56	7.3	6.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,917	-9	-1	-2	-0.3	-0.5	Nov 8, 2024	J-GAAP
YoY	+20.3%	－	－	－	－