KAYAC Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 78%

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Thu Nov 14, 2024 3:30 pm JST Earnings

3904 KAYAC Inc. 【J-GAAP】

Earnings Report

KAYAC Inc. <3904> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 77.4% from the same period last year to 187 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 77.8%, from the previous forecast of 900 million yen to 200 million yen (compared to 1.03 billion yen in the previous period), leading to an increase in the profit decline rate from 13.3% to 80.7%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 89.9%, from the previous forecast of 779 million yen to 79 million yen (compared to 524 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 84.9% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 66 million yen, a 78.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.4% in the same period last year to 3.5%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	11,539	924	999	647	41.9	82.4	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	12,594	736	827	489	30.7	79.7	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	11,969	201	187	12	0.8	93.5	Nov 14, 2024	J-GAAP
YoY	-5.0%	-72.7%	-77.4%	-97.5%	-97.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	12,297	950	779	476	29.6	3.90	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	8,297	200	79	-14	-0.9	3.90	Nov 14, 2024	J-GAAP
Revision Rate	-32.5%	-78.9%	-89.9%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	20,000	1,000	900	500	31.0	3.90	Feb 15, 2024	J-GAAP
Dec, 2024 New	16,000	250	200	10	0.6	3.90	Nov 14, 2024	J-GAAP
Revision Rate	-20.0%	-75.0%	-77.8%	-98.0%	-98.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	9,354	618	524	198	12.4	3.90	Feb 15, 2024	J-GAAP
Jul - Dec, 2024 Guidance	8,297	200	79	-14	-0.9	3.90	Nov 14, 2024	J-GAAP
YoY	-11.3%	-67.6%	-84.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	16,502	1,205	1,213	779	50.1	3.90	Feb 13, 2023	J-GAAP
Dec, 2023	17,467	1,021	1,038	511	32.0	3.90	Feb 15, 2024	J-GAAP
Dec, 2024 Guidance	16,000	250	200	10	0.6	3.90	Nov 14, 2024	J-GAAP
YoY	-8.4%	-75.5%	-80.7%	-98.0%	-98.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,481	333	313	176	11.1	7.4	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	4,873	285	211	22	1.4	5.8	Feb 15, 2024	J-GAAP
Jan - Mar, 2024	3,910	162	222	139	8.7	4.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,793	-112	-101	-115	-7.1	-3.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	4,266	151	66	-12	-0.8	3.5	Nov 14, 2024	J-GAAP
YoY	-4.8%	-54.7%	-78.9%	－	－