KURODA PRECISION INDUSTRIES LTD., First Half Ordinary Profit Decreases by 32%, July-September Ordinary Profit Turns to Loss

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Wed Nov 13, 2024 3:30 pm JST Earnings

7726 KURODA PRECISION INDUSTRIES LTD. 【J-GAAP】

Earnings Report

KURODA PRECISION INDUSTRIES LTD. <7726> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 32.0% from the same period last year to 308 million yen. The progress rate against the 1.05 billion yen full-year plan was 29.3%, also falling below the five-year average of 52.2%.

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 expand by 89.8% from the same period last year, reaching 742 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 54 million yen (compared to a profit of 274 million yen in the same period last year). The operating profit margin worsened from 5.1% in the same period last year to 4.3%.

Kabutan News

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	10,637	664	1,026	657	115.7	66.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	8,942	311	453	284	50.0	53.7	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	8,783	406	308	209	36.7	29.3	Nov 13, 2024	J-GAAP
YoY	-1.8%	+30.5%	-32.0%	-26.4%	-26.7%

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	8,780	405	305	200	35.0	－	Nov 12, 2024	J-GAAP
Apr - Sep, 2024 Results	8,783	406	308	209	36.7	－	Nov 13, 2024	J-GAAP
Revision Rate	+0.0%	+0.2%	+1.0%	+4.5%	+4.7%

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	9,562	272	391	214	37.6	35	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,217	694	742	491	86.0	38	Nov 13, 2024	J-GAAP
YoY	+17.3%	+155.1%	+89.8%	+129.4%	+128.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,746	1,284	1,533	906	159.5	40	May 12, 2023	J-GAAP
Mar, 2024	18,504	583	844	498	87.5	35	May 13, 2024	J-GAAP
Mar, 2025 Guidance	20,000	1,100	1,050	700	122.5	38	May 13, 2024	J-GAAP
YoY	+8.1%	+88.7%	+24.4%	+40.6%	+40.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,435	224	274	127	22.4	5.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	4,495	252	151	38	6.7	5.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	5,067	20	240	176	30.9	0.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	4,117	206	362	199	35.0	5.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,666	200	-54	10	1.8	4.3	Nov 13, 2024	J-GAAP
YoY	+5.2%	-10.7%	－	-92.1%	-92.2%