KANEKA CORPORATION, July-September (2Q) Ordinary Profit Decreases by 30%

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Tue Nov 12, 2024 4:00 pm JST Earnings

4118 KANEKA CORPORATION 【J-GAAP】

Earnings Report

KANEKA CORPORATION <4118> [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) increased by 13.0% from the same period last year, reaching 14.3 billion yen. However, The progress rate against the 34 billion yen full-year plan was 42.3%, also falling below the five-year average of 46.1%.

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 grow by 19.0% from the same period last year, reaching 19.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 4.24 billion yen, a 30.0% decrease compared to the same period last year. However, the operating profit margin improved from 3.7% in the same period last year to 4.5%.

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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	380,602	20,813	22,518	16,568	252.7	69.5	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	370,116	12,606	12,741	8,897	137.1	43.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	395,963	19,101	14,391	10,162	160.5	42.3	Nov 12, 2024	J-GAAP
YoY	+7.0%	+51.5%	+13.0%	+14.2%	+17.1%

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	－	60	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	395,963	19,101	14,391	10,162	160.5	60	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	392,186	19,973	16,481	14,323	220.8	55	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	394,037	18,899	19,609	14,338	227.8	60	Nov 12, 2024	J-GAAP
YoY	+0.5%	-5.4%	+19.0%	+0.1%	+3.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	755,821	35,087	32,411	23,008	349.6	110	May 12, 2023	J-GAAP
Mar, 2024	762,302	32,579	29,222	23,220	357.9	110	May 14, 2024	J-GAAP
Mar, 2025 Guidance	790,000	38,000	34,000	24,500	389.3	120	May 14, 2024	J-GAAP
YoY	+3.6%	+16.6%	+16.4%	+5.5%	+8.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	187,376	7,003	6,067	4,656	71.7	3.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	194,612	9,005	6,610	4,541	70.0	4.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	197,574	10,968	9,871	9,782	150.8	5.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	198,382	10,276	10,146	7,033	110.4	5.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	197,581	8,825	4,245	3,129	49.4	4.5	Nov 12, 2024	J-GAAP
YoY	+5.4%	+26.0%	-30.0%	-32.8%	-31.1%