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KAWANISHI WAREHOUSE CO.,LTD., First Half Ordinary Profit Decreases by 21%, July-September Ordinary Profit Decreases by 28%

Mon Nov 11, 2024 2:00 pm JST Earnings

9322 KAWANISHI WAREHOUSE CO.,LTD. 【J-GAAP】

Earnings Report

KAWANISHI WAREHOUSE CO.,LTD. <9322> [TSE-S] announced its financial results in the afternoon session on November 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.3% from the same period last year to 592 million yen. The progress rate against the 1.28 billion yen full-year plan was 46.3%, also falling below the five-year average of 62.0%.

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 43.0% from the same period last year, reaching 688 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 263 million yen, a 27.7% decrease compared to the same period last year. The operating profit margin worsened from 5.5% in the same period last year to 3.9%.

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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 13,932 712 760 492 64.4 79.3 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 12,612 715 752 473 61.9 61.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 12,731 543 592 352 46.2 46.3 Nov 11, 2024 J-GAAP
YoY +0.9% -24.1% -21.3% -25.6% -25.4%

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 12,900 620 660 410 53.6 14 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 12,731 543 592 352 46.2 14 Nov 11, 2024 J-GAAP
Revision Rate -1.3% -12.4% -10.3% -14.1% -13.9%

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 12,381 444 481 323 42.3 13 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 13,269 657 688 448 58.6 14 Nov 11, 2024 J-GAAP
YoY +7.2% +48.0% +43.0% +38.7% +38.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 27,107 893 958 1,492 195.2 16 May 10, 2023 J-GAAP
Mar, 2024 24,993 1,159 1,233 796 104.2 23 May 10, 2024 J-GAAP
Mar, 2025 Guidance 26,000 1,200 1,280 800 104.6 28 May 10, 2024 J-GAAP
YoY +4.0% +3.5% +3.8% +0.5% +0.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,262 344 364 237 31.0 5.5 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 6,430 358 368 201 26.3 5.6 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 5,951 86 113 122 16.0 1.4 May 10, 2024 J-GAAP
Apr - Jun, 2024 6,301 293 329 168 22.1 4.7 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 6,430 250 263 184 24.1 3.9 Nov 11, 2024 J-GAAP
YoY +2.7% -27.3% -27.7% -22.4% -22.2%

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