KyOwa CORPORATION CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 14%

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Wed Nov 13, 2024 1:00 pm JST Earnings

6570 KyOwa CORPORATION CO.,LTD. 【J-GAAP】

Earnings Report

KyOwa CORPORATION CO.,LTD. <6570> [TSE-S] announced its financial results in the afternoon session on November 13th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was nearly flat at 612 million yen (compared to a 612 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has been revised upward by 14.4%, from the previous forecast of 1.11 billion yen to 1.27 billion yen (compared to 1.11 billion yen in the previous period), increasing the growth rate from 0.5% to 15.0%..

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 expand by 33.5% from the same period last year, reaching 666 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 6.7% from the same period last year, reaching 459 million yen. However, the operating profit margin decreased from 10.9% in the same period last year to 10.3%.

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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	5,999	384	381	211	35.6	53.6	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	7,188	599	612	339	57.1	55.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	8,181	617	612	373	62.7	47.9	Nov 13, 2024	J-GAAP
YoY	+13.8%	+3.0%	0.0%	+10.0%	+9.8%

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	7,665	456	451	270	45.4	10	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	8,181	617	612	373	62.7	10	Nov 13, 2024	J-GAAP
Revision Rate	+6.7%	+35.3%	+35.7%	+38.1%	+38.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	15,659	1,130	1,117	680	114.1	20	May 14, 2024	J-GAAP
Mar, 2025 New	16,175	1,291	1,278	783	131.4	20	Nov 13, 2024	J-GAAP
Revision Rate	+3.3%	+14.2%	+14.4%	+15.1%	+15.1%

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	7,392	483	499	307	51.7	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	7,994	674	666	410	68.8	10	May 14, 2024	J-GAAP
YoY	+8.1%	+39.5%	+33.5%	+33.6%	+33.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	12,444	717	711	432	72.7	17.50	May 12, 2023	J-GAAP
Mar, 2024	14,580	1,082	1,111	646	108.7	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	16,175	1,291	1,278	783	131.4	20	Nov 13, 2024	J-GAAP
YoY	+10.9%	+19.3%	+15.0%	+21.2%	+20.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,960	432	430	213	35.9	10.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,558	165	164	97	16.3	4.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	3,834	318	335	210	35.3	8.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,679	153	153	93	15.7	4.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,502	464	459	280	47.1	10.3	Nov 13, 2024	J-GAAP
YoY	+13.7%	+7.4%	+6.7%	+31.5%	+31.2%