KANEKO SEEDS, Sep-Nov (2Q) Ordinary Profit Increases by 54%

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Tue Jan 7, 2025 3:30 pm JST Earnings

1376 KANEKO SEEDS CO., LTD. 【J-GAAP】

Earnings Report

KANEKO SEEDS CO., LTD. <1376> [TSE Std] announced its financial results after the market closed on January 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) decreased 7.1% from the same period last year to 0.43 billion yen. The progress rate toward the full-year plan of 1.75 billion yen was 24.6%, almost the same as the five-year average of 21.8%.

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 December to May period (2H) is expected to grow 19.3% from the same period last year, reaching 1.31 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit increased 54.2% from the same period last year, reaching 0.23 billion yen. The operating profit margin improved from 1.0% in the same period last year to 1.6%.

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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
Jun - Nov, 2022	28,276	534	598	441	38.2	31.3	Jan 5, 2023	J-GAAP
Jun - Nov, 2023	26,540	386	464	312	27.3	29.6	Jan 5, 2024	J-GAAP
Jun - Nov, 2024	28,096	340	431	269	24.0	24.6	Jan 7, 2025	J-GAAP
YoY	+5.9%	-11.9%	-7.1%	-13.8%	-12.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	ー	ー	ー	ー	－	11	Jul 10, 2024	J-GAAP
Jun - Nov, 2024 Results	28,096	340	431	269	24.0	11	Jan 7, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	35,058	1,092	1,106	865	75.9	22	Jul 10, 2024	J-GAAP
Dec - May, 2024 Guidance	35,404	1,310	1,319	931	83.1	22	Jan 7, 2025	J-GAAP
YoY	+1.0%	+20.0%	+19.3%	+7.6%	+9.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	62,179	1,785	1,913	1,426	123.6	31	Jul 11, 2023	J-GAAP
May, 2024	61,598	1,478	1,570	1,177	103.3	33	Jul 10, 2024	J-GAAP
May, 2025 Guidance	63,500	1,650	1,750	1,200	107.1	33	Jul 10, 2024	J-GAAP
YoY	+3.1%	+11.6%	+11.5%	+2.0%	+3.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	12,813	128	155	104	9.1	1.0	Jan 5, 2024	J-GAAP
Dec - Feb, 2023	11,834	-58	-28	-53	-4.6	-0.5	Apr 3, 2024	J-GAAP
Mar - May, 2024	23,224	1,150	1,134	918	80.6	5.0	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	14,832	131	192	106	9.4	0.9	Oct 4, 2024	J-GAAP
Sep - Nov, 2024	13,264	209	239	163	14.5	1.6	Jan 7, 2025	J-GAAP
YoY	+3.5%	+63.3%	+54.2%	+56.7%	+59.6%