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

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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%.

Kabutan News

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	347	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%	-6.9%	-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	686	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%	-5.2%	-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	185	203	134	27.9	5.4	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%