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

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 62.9 19 Nov 11, 2024 J-GAAP
YoY +1.3% -39.7% -38.8% -57.2% -53.8%

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 3,185 213.4 38 Aug 5, 2024 J-GAAP
YoY +3.7% +52.6% +50.0% +16.5% +25.6%

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%

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