Kewpie, 1% Decrease in Ordinary Profit for The Current Fiscal Year, Dividend Raised by 10 yen

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Thu Jan 9, 2025 3:30 pm JST Earnings

2809 Kewpie Corporation 【J-GAAP】

Earnings Report

Kewpie Corporation <2809> [TSE Prime] announced its financial results after the market closed on January 9th (15:30). The consolidated ordinary profit for the fiscal year ending November 2024 expanded 80.0% from the previous period to 36.8 billion yen. However, for the fiscal year ending November 2025, the profit is nearly flat with a slight decrease of 0.7% from the previous period to 36.6 billion yen.

At the same time, the company has decided to increase the dividend this fiscal year to 64 yen, an increase of 10 yen from the previous fiscal year.

In the most recent three-month period, from September to November (4Q), the consolidated ordinary profit decreased to 4.69 billion yen, a 13.2% decrease compared to the same period last year. The operating profit margin worsened from 5.3% in the same period last year to 3.7%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2022	430,304	25,433	27,249	16,033	115.3	47	Jan 10, 2023	J-GAAP
Nov, 2023	455,086	19,694	20,490	13,174	94.8	50	Jan 10, 2024	J-GAAP
Nov, 2024	483,985	34,329	36,874	21,419	154.1	54	Jan 9, 2025	J-GAAP
YoY	+6.4%	+74.3%	+80.0%	+62.6%	+62.6%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2024 Guidance	486,000	34,000	36,100	20,700	148.9	54	Jul 4, 2024	J-GAAP
Nov, 2024 Results	483,985	34,329	36,874	21,419	154.1	54	Jan 9, 2025	J-GAAP
Revision Rate	-0.4%	+1.0%	+2.1%	+3.5%	+3.5%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	236,834	18,882	20,306	12,513	90.0	23	Jul 4, 2024	J-GAAP
Dec - May, 2024 Guidance	ー	ー	ー	ー	－	32	Jan 9, 2025	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2023	455,086	19,694	20,490	13,174	94.8	50	Jan 10, 2024	J-GAAP
Nov, 2024	483,985	34,329	36,874	21,419	154.1	54	Jan 9, 2025	J-GAAP
Nov, 2025 Guidance	505,000	34,500	36,600	29,200	210.1	64	Jan 9, 2025	J-GAAP
YoY	+4.3%	+0.5%	-0.7%	+36.3%	+36.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	119,189	6,353	5,407	2,093	15.1	5.3	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	114,632	8,149	8,849	6,038	43.4	7.1	Apr 5, 2024	J-GAAP
Mar - May, 2024	122,202	10,733	11,457	6,475	46.6	8.8	Jul 4, 2024	J-GAAP
Jun - Aug, 2024	124,077	10,933	11,876	7,243	52.1	8.8	Oct 3, 2024	J-GAAP
Sep - Nov, 2024	123,074	4,514	4,692	1,663	12.0	3.7	Jan 9, 2025	J-GAAP
YoY	+3.3%	-28.9%	-13.2%	-20.5%	-20.6%