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

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%.

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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 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 1,050 700 122.6 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%

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