KANEMITSU CORPORATION, First Half Ordinary Profit Unexpectedly Revised Upward by 34%

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Wed Nov 13, 2024 3:30 pm JST Earnings

7208 KANEMITSU CORPORATION 【J-GAAP】

Earnings Report

KANEMITSU CORPORATION <7208> [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) expanded to 348 million yen, an increase of 33.8% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 23.1% decrease.

The progress rate against the 700 million yen full-year plan was 49.7%, exceeding the five-year average of 40.7%.

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 decrease by 14.4% from the same period last year to 352 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 54.2% from the same period last year, reaching 219 million yen. The operating profit margin improved from 4.7% in the same period last year to 7.4%.

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	4,610	94	139	178	34.8	28.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	5,316	229	260	229	44.8	38.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,508	315	348	266	52.0	49.7	Nov 13, 2024	J-GAAP
YoY	+3.6%	+37.6%	+33.8%	+16.2%	+16.2%

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	5,600	200	200	100	19.6	15	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	5,508	315	348	266	52.0	15	Nov 13, 2024	J-GAAP
Revision Rate	-1.6%	+57.5%	+74.0%	+166.0%	+166.0%

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	5,775	347	411	403	78.9	15	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,092	385	352	234	45.8	15	Nov 13, 2024	J-GAAP
YoY	+5.5%	+11.0%	-14.4%	-41.9%	-42.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,024	425	487	538	105.2	28.50	May 11, 2023	J-GAAP
Mar, 2024	11,091	576	671	632	123.7	29.50	May 9, 2024	J-GAAP
Mar, 2025 Guidance	11,600	700	700	500	97.8	30	May 9, 2024	J-GAAP
YoY	+4.6%	+21.5%	+4.3%	-20.9%	-20.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,672	125	142	125	24.5	4.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,068	305	345	293	57.4	9.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	2,707	42	66	110	21.5	1.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	2,711	109	129	77	15.1	4.0	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	2,797	206	219	189	37.0	7.4	Nov 13, 2024	J-GAAP
YoY	+4.7%	+64.8%	+54.2%	+51.2%	+51.2%