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KYB Corporation, First Half Net Income Decreases by 37%, Revises Dividend Forecast in Conjunction with Stock Split

Mon Nov 11, 2024 4:00 pm JST Earnings

7242 KYB Corporation 【IFRS】

Earnings Report

KYB Corporation <7242> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 11th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.6% from the same period last year to 5.18 billion yen. The progress rate against the 13.5 billion yen full-year plan was 38.4%, also falling below the five-year average of 44.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 8.8% from the same period last year, reaching 8.31 billion yen.

At the same time, Due to a planned 1-to-2 stock split is scheduled for December 2, the annual dividend for the current fiscal year has been revised from the original plan of 200 yen to 150 yen (equivalent to 200 yen before the stock split), but the actual dividend remains unchanged.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 1.27 billion yen, a 58.8% decrease compared to the same period last year. The operating profit margin worsened from 4.3% in the same period last year to 2.1%.

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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 209,886 14,826 14,535 10,604 198.4 45.8 Nov 4, 2022 IFRS
Apr - Sep, 2023 217,906 11,121 10,670 8,170 151.5 50.0 Nov 7, 2023 IFRS
Apr - Sep, 2024 213,457 8,334 7,756 5,182 94.1 37.8 Nov 11, 2024 IFRS
YoY -2.0% -25.1% -27.3% -36.6% -37.9%

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 － 50 May 10, 2024 IFRS
Apr - Sep, 2024 Results 213,457 8,334 7,756 5,182 94.1 50 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 448,000 22,500 20,500 13,500 278.8 100 May 10, 2024 IFRS
Mar, 2025 New 448,000 22,500 20,500 13,500 278.8 100 Nov 11, 2024 IFRS
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 224,875 11,296 10,691 7,648 142.5 50 May 10, 2024 IFRS
Oct - Mar, 2024 Guidance 234,543 14,166 12,744 8,318 171.8 50 Nov 11, 2024 IFRS
YoY +4.3% +25.4% +19.2% +8.8% +20.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 431,205 32,547 31,770 27,210 514.2 100 May 11, 2023 IFRS
Mar, 2024 442,781 22,417 21,361 15,818 294.8 100 May 10, 2024 IFRS
Mar, 2025 Guidance 448,000 22,500 20,500 13,500 278.8 100 Nov 11, 2024 IFRS
YoY +1.2% +0.4% -4.0% -14.7% -5.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 110,638 4,740 4,300 3,100 57.5 4.3 Nov 7, 2023 IFRS
Oct - Dec, 2023 110,830 4,267 3,935 2,787 51.5 3.9 Feb 8, 2024 IFRS
Jan - Mar, 2024 114,045 7,029 6,756 4,861 90.6 6.2 May 10, 2024 IFRS
Apr - Jun, 2024 108,746 6,101 5,830 3,906 73.3 5.6 Aug 8, 2024 IFRS
Jul - Sep, 2024 104,711 2,233 1,926 1,276 23.2 2.1 Nov 11, 2024 IFRS
YoY -5.4% -52.9% -55.2% -58.8% -59.7%

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