KEIWA Incorporated, January-September (Third Quarter Cumulative) Ordinary Profit Increases by 68%, Current Fiscal Year Dividend Revised Upward by 10 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

4251 KEIWA Incorporated 【J-GAAP】

Earnings Report

KEIWA Incorporated <4251> [TSE-P] 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) expanded to 3.15 billion yen, an increase of 67.6% compared to the same period last year. The progress rate against the 3.27 billion yen full-year plan was 96.3%, also surpassing the five-year average of 77.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to significant drop by 86.3% from the same period last year to 120 million yen.

At the same time, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 25 yen to 35 yen (compared to 25 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 588 million yen, a 38.4% decrease compared to the same period last year. However, the operating profit margin rose from 16.9% in the same period last year to 19.5%.

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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	15,897	4,196	5,251	4,022	208.9	84.7	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	12,341	1,430	1,882	1,388	72.0	68.3	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	14,856	3,079	3,155	1,162	60.3	96.3	Nov 14, 2024	J-GAAP
YoY	+20.4%	+115.3%	+67.6%	-16.3%	-16.3%

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	10,150	1,083	708	615	31.9	25	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	10,150	1,083	708	615	31.9	35	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	19,798	3,146	3,275	2,192	113.7	25	Aug 14, 2024	J-GAAP
Dec, 2024 New	19,798	3,146	3,275	2,192	113.7	35	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	10,176	1,863	1,829	1,358	70.5	25	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	10,150	1,083	708	615	31.9	35	Nov 14, 2024	J-GAAP
YoY	-0.3%	-41.9%	-61.3%	-54.7%	-54.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	21,102	5,569	6,202	4,860	252.5	37.50	Feb 14, 2023	J-GAAP
Dec, 2023	17,570	2,455	2,757	1,983	102.9	25	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	19,798	3,146	3,275	2,192	113.7	35	Nov 14, 2024	J-GAAP
YoY	+12.7%	+28.1%	+18.8%	+10.5%	+10.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,947	838	954	763	39.6	16.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	5,229	1,025	875	595	30.9	19.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,609	1,003	1,271	832	43.2	21.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	5,039	1,060	1,296	745	38.7	21.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	5,208	1,016	588	-415	-21.5	19.5	Nov 14, 2024	J-GAAP
YoY	+5.3%	+21.2%	-38.4%	－	－