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KITAZAWA SANGYO CO.,LTD., First Half Ordinary Profit Decreases by 18%, July-September Ordinary Profit Decreases by 30%

Wed Nov 13, 2024 4:00 pm JST Earnings

9930 KITAZAWA SANGYO CO.,LTD. 【J-GAAP】

Earnings Report

KITAZAWA SANGYO CO.,LTD. <9930> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.4% from the same period last year to 385 million yen. The progress rate against the 950 million yen full-year plan was 40.5%, also falling below the five-year average of 57.3%.

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 5.5% from the same period last year to 565 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 229 million yen, a 29.5% decrease compared to the same period last year. The operating profit margin worsened from 6.9% in the same period last year to 5.5%.

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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 7,777 258 298 177 9.6 39.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 8,048 421 472 295 15.9 44.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 7,526 343 385 249 13.4 40.5 Nov 13, 2024 J-GAAP
YoY -6.5% -18.5% -18.4% -15.6% -15.5%

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 8,250 400 420 225 12.1 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 7,526 343 385 249 13.4 0 Nov 13, 2024 J-GAAP
Revision Rate -8.8% -14.2% -8.3% +10.7% +11.1%

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 8,423 573 598 370 19.9 8 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 9,324 557 565 326 17.5 8 Nov 13, 2024 J-GAAP
YoY +10.7% -2.8% -5.5% -11.9% -11.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 16,222 699 764 455 24.5 5 May 12, 2023 J-GAAP
Mar, 2024 16,471 994 1,070 665 35.8 8 May 10, 2024 J-GAAP
Mar, 2025 Guidance 16,850 900 950 575 30.9 8 May 10, 2024 J-GAAP
YoY +2.3% -9.5% -11.2% -13.5% -13.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 4,479 307 325 206 11.1 6.9 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 4,250 261 279 169 9.1 6.1 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 4,173 312 319 201 10.8 7.5 May 10, 2024 J-GAAP
Apr - Jun, 2024 3,639 128 156 104 5.6 3.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 3,887 215 229 145 7.8 5.5 Nov 13, 2024 J-GAAP
YoY -13.2% -30.0% -29.5% -29.6% -29.5%

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