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KYORITSU AIR TECH INC., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 15%, July-September Ordinary Profit Decreases by 35%

Tue Nov 12, 2024 3:10 pm JST Earnings

5997 KYORITSU AIR TECH INC. 【J-GAAP】

Earnings Report

KYORITSU AIR TECH INC. <5997> [TSE-S] announced its financial results in the afternoon session on November 12th (15:10). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 15.3% from the same period last year to 454 million yen. The progress rate against the 674 million yen full-year plan was 67.4%, also falling below the five-year average of 72.3%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to grow by 8.4% from the same period last year, reaching 220 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 112 million yen, a 35.3% decrease compared to the same period last year. The operating profit margin worsened from 5.7% in the same period last year to 3.5%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 7,429 304 352 222 46.4 62.5 Nov 9, 2022 J-GAAP
Jan - Sep, 2023 8,450 501 536 354 73.8 72.5 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 8,214 425 454 310 64.6 67.4 Nov 12, 2024 J-GAAP
YoY -2.8% -15.2% -15.3% -12.4% -12.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 6,283 353 376 249 51.9 20 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 5,773 323 332 233 48.4 15 Aug 9, 2024 J-GAAP
YoY -8.1% -8.5% -11.7% -6.4% -6.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 10,596 503 563 363 75.7 15 Feb 13, 2023 J-GAAP
Dec, 2023 11,896 692 739 488 101.6 20 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 11,200 650 674 470 97.6 15 Feb 14, 2024 J-GAAP
YoY -5.9% -6.1% -8.8% -3.7% -4.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,837 162 173 115 24.0 5.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 3,446 191 203 134 27.9 5.5 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 2,830 216 223 160 33.4 7.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 2,597 111 119 77 16.1 4.3 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,787 98 112 73 15.2 3.5 Nov 12, 2024 J-GAAP
YoY -1.8% -39.5% -35.3% -36.5% -36.6%

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