THE KINKI SHARYO CO.,LTD., First Half Ordinary Profit Decreases by 99%, July-September Ordinary Profit Turns to Loss

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Tue Nov 12, 2024 3:30 pm JST Earnings

7122 THE KINKI SHARYO CO.,LTD. 【J-GAAP】

Earnings Report

THE KINKI SHARYO CO.,LTD. <7122> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 99.2% from the same period last year to 19 million yen. The progress rate against the 100 million yen full-year plan was 19.0%, also falling below the five-year average of 38.8%.

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 significant drop by 97.0% from the same period last year to 81 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 861 million yen (compared to a profit of 992 million yen in the same period last year). The operating profit/loss margin drastically worsened from 8.3% in the same period last year to -2.4%.

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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	16,497	173	812	792	115.2	63.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	16,071	1,637	2,322	1,894	275.3	46.4	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	13,588	343	19	7	1.2	19.0	Nov 12, 2024	J-GAAP
YoY	-15.5%	-79.0%	-99.2%	-99.6%	-99.6%

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	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	13,588	343	19	7	1.2	0	Nov 12, 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	27,083	2,669	2,686	2,479	360.3	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,412	-243	81	93	13.5	50	Nov 12, 2024	J-GAAP
YoY	-32.0%	－	-97.0%	-96.2%	-96.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	35,873	1,229	1,283	1,183	172.0	50	May 12, 2023	J-GAAP
Mar, 2024	43,154	4,306	5,008	4,373	635.6	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	32,000	100	100	100	14.5	50	May 13, 2024	J-GAAP
YoY	-25.8%	-97.7%	-98.0%	-97.7%	-97.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,964	826	992	695	101.0	8.3	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	13,668	1,858	1,512	1,481	215.2	13.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	13,415	811	1,174	998	145.1	6.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	7,264	495	880	822	119.5	6.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,324	-152	-861	-815	-133.9	-2.4	Nov 12, 2024	J-GAAP
YoY	-36.5%	－	－	－	－