KAWADA TECHNOLOGIES,INC., The Current Fiscal Year Ordinary Profit Revised Upward by 31%, Dividend Revised Upward by 10 yen

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Tue Nov 12, 2024 4:00 pm JST Earnings

3443 KAWADA TECHNOLOGIES,INC. 【J-GAAP】

Earnings Report

KAWADA TECHNOLOGIES,INC. <3443> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 6.44 billion yen, an increase of 74.4% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 30.6%, from the previous forecast of 7.2 billion yen to 9.4 billion yen (compared to 10.5 billion yen in the previous period), and the declining rate is expected to decrease from 31.7% to 10.8%.

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 significant drop by 56.8% from the same period last year to 2.95 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 90 yen to 100 yen (compared to 393 yen before the 1-to-3 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.6% from the same period last year, reaching 3.59 billion yen. However, the operating profit margin worsened from 8.3% in the same period last year to 6.9%.

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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	50,764	320	1,109	579	32.9	17.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	64,325	3,096	3,695	2,594	147.8	35.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	66,430	4,801	6,443	5,017	290.8	68.5	Nov 12, 2024	J-GAAP
YoY	+3.3%	+55.1%	+74.4%	+93.4%	+96.7%

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	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	66,430	4,801	6,443	5,017	290.8	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	128,000	5,800	7,200	5,200	300.7	90	Aug 9, 2024	J-GAAP
Mar, 2025 New	130,000	7,900	9,400	6,900	399.0	100	Nov 12, 2024	J-GAAP
Revision Rate	+1.6%	+36.2%	+30.6%	+32.7%	+32.7%

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	64,802	5,638	6,843	4,947	284.8	131	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	63,570	3,099	2,957	1,883	108.9	55	Nov 12, 2024	J-GAAP
YoY	-1.9%	-45.0%	-56.8%	-61.9%	-61.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	118,086	5,025	6,298	4,231	239.9	70	May 12, 2023	J-GAAP
Mar, 2024	129,127	8,734	10,538	7,541	434.1	131	May 14, 2024	J-GAAP
Mar, 2025 Guidance	130,000	7,900	9,400	6,900	399.0	100	Nov 12, 2024	J-GAAP
YoY	+0.7%	-9.5%	-10.8%	-8.5%	-8.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	33,013	2,742	2,842	1,965	112.0	8.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	32,559	2,166	2,447	1,440	82.6	6.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	32,243	3,472	4,396	3,507	201.9	10.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	32,856	2,483	2,846	2,048	118.9	7.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	33,574	2,318	3,597	2,969	172.1	6.9	Nov 12, 2024	J-GAAP
YoY	+1.7%	-15.5%	+26.6%	+51.1%	+53.7%