AGRO-KANESHO CO.,LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 52%, Second Half Dividend Postponed

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Tue Nov 12, 2024 5:00 pm JST Earnings

4955 AGRO-KANESHO CO.,LTD. 【J-GAAP】

Earnings Report

AGRO-KANESHO CO.,LTD. <4955> [TSE-S] announced its financial results after the market closed on November 12th (17:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 1.15 billion yen, an increase of 51.8% compared to the same period last year. The progress rate against the 1.29 billion yen full-year plan was 88.9%, also surpassing the five-year average of 75.1%.

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 significant drop by 58.7% from the same period last year to 144 million yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the the second half of 41 yen for the current fiscal year.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss improved to a deficit of loss of 21 million yen (compared to a loss of 50 million yen in the same period last year). The operating profit/loss margin improved from -1.6% in the same period last year to -0.6%.

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	11,728	1,053	1,149	575	46.4	67.3	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	11,055	682	758	420	34.8	68.5	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	11,757	1,169	1,151	723	60.4	88.9	Nov 12, 2024	J-GAAP
YoY	+6.4%	+71.4%	+51.8%	+72.1%	+73.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	7,317	91	123	-94	-7.9	41	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 New	7,317	91	123	-94	-7.9	0	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	16,052	1,277	1,295	693	57.8	57	Aug 13, 2024	J-GAAP
Dec, 2024 New	16,052	1,277	1,295	693	57.8	16	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	7,674	648	299	107	8.9	17	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	7,317	91	123	-94	-7.9	0	Nov 12, 2024	J-GAAP
YoY	-4.7%	-86.0%	-58.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	16,640	1,650	1,707	917	74.0	30	Feb 10, 2023	J-GAAP
Dec, 2023	15,655	1,378	1,107	605	50.2	32	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	16,052	1,277	1,295	693	57.8	16	Nov 12, 2024	J-GAAP
YoY	+2.5%	-7.3%	+17.0%	+14.5%	+15.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,074	-48	-50	-78	-6.5	-1.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	4,600	696	349	185	15.4	15.1	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,320	460	438	318	26.6	10.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	4,415	726	734	469	39.2	16.4	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	3,022	-17	-21	-64	-5.4	-0.6	Nov 12, 2024	J-GAAP
YoY	-1.7%	+64.6%	+58.0%	+17.9%	+17.3%