KAJIMA CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Tue Nov 12, 2024 12:00 pm JST Earnings

1812 KAJIMA CORPORATION 【J-GAAP】

Earnings Report

KAJIMA CORPORATION <1812> [TSE-P] announced its financial results at noon (12:00) on November 12th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 32.8% from the same period last year to 48.9 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 5.1%, from the previous forecast of 137 billion yen to 144 billion yen (compared to 150 billion yen in the previous period), and the declining rate is expected to decrease from 8.7% to 4.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 23.0% from the same period last year, reaching 95 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 23 billion yen, a 47.3% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 3.2%.

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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	1,137,472	64,909	79,155	54,741	111.2	50.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	1,305,802	66,439	72,856	50,034	103.7	48.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	1,321,658	48,090	48,958	35,147	74.2	34.0	Nov 12, 2024	J-GAAP
YoY	+1.2%	-27.6%	-32.8%	-29.8%	-28.4%

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	－	45	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	1,321,658	48,090	48,958	35,147	74.2	45	Nov 12, 2024	J-GAAP
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	2,780,000	132,000	137,000	105,000	223.1	90	May 14, 2024	J-GAAP
Mar, 2025 New	2,800,000	140,000	144,000	116,000	246.4	90	Nov 12, 2024	J-GAAP
Revision Rate	+0.7%	+6.1%	+5.1%	+10.5%	+10.5%

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	1,359,373	69,787	77,256	64,999	134.9	55	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,478,342	91,910	95,042	80,853	171.8	45	Nov 12, 2024	J-GAAP
YoY	+8.8%	+31.7%	+23.0%	+24.4%	+27.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,391,579	123,526	156,731	111,789	228.0	70	May 15, 2023	J-GAAP
Mar, 2024	2,665,175	136,226	150,112	115,033	238.8	90	May 14, 2024	J-GAAP
Mar, 2025 Guidance	2,800,000	140,000	144,000	116,000	246.4	90	Nov 12, 2024	J-GAAP
YoY	+5.1%	+2.8%	-4.1%	+0.8%	+3.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	722,331	41,548	43,725	30,673	63.6	5.8	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	688,824	35,676	40,010	26,574	55.1	5.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	670,549	34,111	37,246	38,425	79.8	5.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	613,218	25,274	25,935	17,433	36.6	4.1	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	708,440	22,816	23,023	17,714	37.4	3.2	Nov 12, 2024	J-GAAP
YoY	-1.9%	-45.1%	-47.3%	-42.2%	-41.2%