KYOWAKOGYOSYO, First Half Ordinary Profit Decreases by 37%, Aug-Oct Ordinary Profit Decreases by 32%

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Fri Dec 13, 2024 3:40 pm JST Earnings

5971 KYOWAKOGYOSYO CO.,LTD. 【J-GAAP】

Earnings Report

KYOWAKOGYOSYO CO.,LTD. <5971> [TSE Std] announced its financial results after the market closed on December 13th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending April 2025 (May to October) dropped 36.7% from the same period last year to 454 million yen. The progress rate toward the full-year plan of 870 million yen was 52.2%, almost the same as the five-year average of 49.5%.

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 November to April period (second half) is expected to decrease 3.7% from the same period last year to 416 million yen.

In the most recent three-month period, from August to October (2Q), the consolidated ordinary profit dropped to 212 million yen, a 32.1% decrease compared to the same period last year. The operating profit margin decreased from 10.1% in the same period last year to 7.9%.

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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
May - Oct, 2022	6,425	361	416	208	153.5	37.7	Dec 12, 2022	J-GAAP
May - Oct, 2023	5,872	644	717	1,143	842.1	62.4	Dec 8, 2023	J-GAAP
May - Oct, 2024	5,119	395	454	311	232.3	52.2	Dec 13, 2024	J-GAAP
YoY	-12.8%	-38.7%	-36.7%	-72.8%	-72.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Guidance	5,000	370	410	280	215.1	0	Jun 14, 2024	J-GAAP
May - Oct, 2024 Results	5,119	395	454	311	232.3	0	Dec 13, 2024	J-GAAP
Revision Rate	+2.4%	+6.8%	+10.7%	+11.1%	+8.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov - Apr, 2023	5,100	371	432	300	221.0	80	Jun 14, 2024	J-GAAP
Nov - Apr, 2024 Guidance	5,081	385	416	299	229.7	80	Dec 13, 2024	J-GAAP
YoY	-0.4%	+3.8%	-3.7%	-0.3%	+3.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	13,213	994	1,102	1,092	804.5	80	Jun 9, 2023	J-GAAP
Apr, 2024	10,972	1,015	1,149	1,443	1,063.1	80	Jun 14, 2024	J-GAAP
Apr, 2025 Guidance	10,200	780	870	610	468.7	80	Jun 14, 2024	J-GAAP
YoY	-7.0%	-23.2%	-24.3%	-57.7%	-55.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	2,845	286	312	220	162.1	10.1	Dec 8, 2023	J-GAAP
Nov - Jan, 2023	2,582	186	236	166	122.3	7.2	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	2,518	185	196	134	98.7	7.3	Jun 14, 2024	J-GAAP
May - Jul, 2024	2,578	193	242	167	123.3	7.5	Sep 12, 2024	J-GAAP
Aug - Oct, 2024	2,541	202	212	144	107.5	7.9	Dec 13, 2024	J-GAAP
YoY	-10.7%	-29.4%	-32.1%	-34.5%	-33.7%