THE KYOTO HOTEL, LTD., First Half Ordinary Profit Decreases by 16%

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Mon Nov 11, 2024 4:00 pm JST Earnings

9723 THE KYOTO HOTEL, LTD. 【J-GAAP】

Earnings Report

THE KYOTO HOTEL, LTD. <9723> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.7% from the same period last year to 236 million yen. However, The progress rate against the 320 million yen full-year plan was 73.8%, also surpassing the progress rate of 34.7% from the same period of the previous year.

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 significant drop by 84.1% from the same period last year to 84 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary loss expanded to a loss of 78 million yen (compared to a loss of 3 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.6% in the same period last year to -2.0%.

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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	2,996	-428	-291	-298	-24.8	ー	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	4,234	351	280	271	20.9	34.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	4,274	312	236	222	16.8	73.8	Nov 11, 2024	J-GAAP
YoY	+0.9%	-11.1%	-15.7%	-18.1%	-19.5%

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	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	4,274	312	236	222	16.8	－	Nov 11, 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	4,904	602	527	663	52.6	5	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,676	138	84	78	6.5	3	Nov 11, 2024	J-GAAP
YoY	-4.6%	-77.1%	-84.1%	-88.2%	-87.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,350	-29	79	62	5.2	0	May 10, 2023	J-GAAP
Mar, 2024	9,138	953	807	934	74.2	5	May 14, 2024	J-GAAP
Mar, 2025 Guidance	8,950	450	320	300	24.9	3	May 14, 2024	J-GAAP
YoY	-2.1%	-52.8%	-60.3%	-67.9%	-66.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,929	31	-3	-9	-0.7	1.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,699	527	492	489	38.9	19.5	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,205	75	35	174	13.8	3.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,369	351	314	273	21.8	14.8	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	1,905	-39	-78	-51	-3.9	-2.0	Nov 11, 2024	J-GAAP
YoY	-1.2%	－	-2,500.0%	-466.7%	-459.4%