KENKO Mayonnaise Co., Ltd., First Half Ordinary Profit Increases by 3.9 times, July-September Ordinary Profit Increases by 2.4 times

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Mon Nov 11, 2024 4:30 pm JST Earnings

2915 KENKO Mayonnaise Co., Ltd. 【J-GAAP】

Earnings Report

KENKO Mayonnaise Co., Ltd. <2915> [TSE-P] announced its financial results after the market closed on November 11th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.9 times that of the same period last year, reaching 3.27 billion yen. The progress rate against the 4.65 billion yen full-year plan was 70.4%, also surpassing the progress rate of 27.3% 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 consolidated ordinary profit for the October to March period (second half) is expected to drop by 38.8% from the same period last year to 1.37 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.4 times that of the same period last year, reaching 1.47 billion yen. The operating profit margin significantly improved from 2.6% in the same period last year to 6.2%.

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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	40,750	620	642	482	29.7	379.9	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	43,763	782	847	542	33.7	27.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	46,455	3,194	3,272	2,246	140.6	70.4	Nov 11, 2024	J-GAAP
YoY	+6.2%	+308.4%	+286.3%	+314.4%	+317.9%

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	－	19	Aug 5, 2024	J-GAAP
Apr - Sep, 2024 Results	46,455	3,194	3,272	2,246	140.6	19	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	44,961	2,167	2,252	2,193	136.2	20	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	45,545	1,306	1,378	939	58.7	19	Nov 11, 2024	J-GAAP
YoY	+1.3%	-39.7%	-38.8%	-57.2%	-56.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	82,363	105	169	485	29.9	17	May 15, 2023	J-GAAP
Mar, 2024	88,724	2,949	3,099	2,735	169.9	30	May 13, 2024	J-GAAP
Mar, 2025 Guidance	92,000	4,500	4,650	3,185	199.2	38	Aug 5, 2024	J-GAAP
YoY	+3.7%	+52.6%	+50.0%	+16.5%	+17.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	22,361	583	603	400	24.8	2.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	23,340	1,544	1,579	1,109	68.8	6.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	21,621	623	673	1,084	67.3	2.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	23,002	1,735	1,795	1,227	76.9	7.5	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	23,453	1,459	1,477	1,019	63.8	6.2	Nov 11, 2024	J-GAAP
YoY	+4.9%	+150.3%	+144.9%	+154.8%	+156.9%