KOKUSAI ELECTRIC CORPORATION, The Current Fiscal Year Net Income Revised Upward by 15%, Dividend Revised Upward by 4 yen

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Mon Nov 11, 2024 3:00 pm JST Earnings

6525 KOKUSAI ELECTRIC CORPORATION 【IFRS】

Earnings Report

KOKUSAI ELECTRIC CORPORATION <6525> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 11th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.0 times that of the same period last year, reaching 18 billion yen.

In addition, the full-year consolidated net income has been revised upward by 14.8%, from the previous forecast of 29 billion yen to 33.3 billion yen (compared to 22.3 billion yen in the previous period), increasing the growth rate from 29.6% to 48.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 12.4% from the same period last year, reaching 15.2 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 32 yen to 36 yen (compared to 11 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 4.75 billion yen, a 22.8% decrease compared to the same period last year. The operating profit margin decreased from 20.9% in the same period last year to 19.4%.

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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, 2023	77,705	13,373	12,872	8,813	38.3	43.3	Nov 9, 2023	IFRS
Apr - Sep, 2024	114,548	27,440	27,942	18,053	77.1	55.8	Nov 11, 2024	IFRS
YoY	+47.4%	+105.2%	+117.1%	+104.8%	+101.5%

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	－	16	May 10, 2024	IFRS
Apr - Sep, 2024 Results	114,548	27,440	27,942	18,053	77.1	18	Nov 11, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	217,500	44,800	44,000	29,000	125.3	32	May 10, 2024	IFRS
Mar, 2025 New	238,000	50,200	50,100	33,300	143.8	36	Nov 11, 2024	IFRS
Revision Rate	+9.4%	+12.1%	+13.9%	+14.8%	+14.8%

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	103,133	17,372	16,885	13,561	58.7	11	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	123,452	22,760	22,158	15,247	65.9	18	Nov 11, 2024	IFRS
YoY	+19.7%	+31.0%	+31.2%	+12.4%	+12.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	180,838	30,745	29,757	22,374	96.8	11	May 10, 2024	IFRS
Mar, 2025 Guidance	238,000	50,200	50,100	33,300	143.8	36	Nov 11, 2024	IFRS
YoY	+31.6%	+63.3%	+68.4%	+48.8%	+48.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	44,995	9,383	9,145	6,158	26.7	20.9	Nov 9, 2023	IFRS
Oct - Dec, 2023	53,956	10,689	10,742	7,914	34.3	19.8	Feb 9, 2024	IFRS
Jan - Mar, 2024	49,177	6,683	6,143	5,647	24.4	13.6	May 10, 2024	IFRS
Apr - Jun, 2024	65,224	17,878	17,747	13,302	56.8	27.4	Aug 8, 2024	IFRS
Jul - Sep, 2024	49,324	9,562	10,195	4,751	20.3	19.4	Nov 11, 2024	IFRS
YoY	+9.6%	+1.9%	+11.5%	-22.8%	-24.1%