KITANIHON SPINNING CO.,LTD, First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Loss Widens

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Thu Nov 14, 2024 3:30 pm JST Earnings

3409 KITANIHON SPINNING CO.,LTD 【J-GAAP】

Earnings Report

KITANIHON SPINNING CO.,LTD <3409> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 38 million yen (compared to a profit of 2 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 32 million yen (compared to a loss of 44 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 37 million yen (compared to a loss of 5 million yen in the same period last year). The operating profit/loss margin worsened from -4.2% in the same period last year to -6.6%.

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	551	-81	-66	-89	-5.2	ー	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	628	-14	2	1	0.1	ー	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	768	-35	-38	-40	-2.0	ー	Nov 14, 2024	J-GAAP
YoY	+22.3%	-150.0%	－	－	－

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	768	-35	-38	-40	-1.9	0	Nov 13, 2024	J-GAAP
Apr - Sep, 2024 Results	768	-35	-38	-40	-2.0	0	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-4.8%

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	679	-47	-44	-116	-6.0	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	694	20	32	28	1.3	0	Nov 13, 2024	J-GAAP
YoY	+2.2%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,185	-154	-92	-271	-15.5	0	May 15, 2023	J-GAAP
Mar, 2024	1,307	-61	-42	-115	-5.9	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	1,462	-15	-6	-12	-0.6	0	May 14, 2024	J-GAAP
YoY	+11.9%	+75.4%	+85.7%	+89.6%	+90.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	310	-13	-5	-5	-0.3	-4.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	318	-25	-27	171	8.8	-7.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	361	-22	-17	-287	-14.7	-6.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	387	-10	-1	-1	-0.1	-2.6	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	381	-25	-37	-39	-1.9	-6.6	Nov 14, 2024	J-GAAP
YoY	+22.9%	-92.3%	-640.0%	-680.0%	-668.0%