JVC KENWOOD, Oct-Dec (3Q) Net Income Decreases by 29%

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Mon Feb 3, 2025 3:45 pm JST Earnings

6632 JVC KENWOOD Corporation 【IFRS】

Earnings Report

JVC KENWOOD Corporation <6632> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 3rd (15:45). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 28.8% from the same period last year, reaching 14 billion yen. The progress rate toward the full-year plan of 17 billion yen was 82.8%, also surpassing the five-year average of 78.3%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to expand 39.9% from the same period last year, reaching 2.93 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 2.97 billion yen, a 28.6% decrease compared to the same period last year. The operating profit margin worsened from 5.6% in the same period last year to 3.4%.

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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
Apr - Dec, 2022	247,497	19,506	19,343	15,513	94.9	91.4	Feb 1, 2023	IFRS
Apr - Dec, 2023	267,258	14,982	14,932	10,922	70.2	81.8	Feb 1, 2024	IFRS
Apr - Dec, 2024	270,474	16,783	18,276	14,070	93.4	79.5	Feb 3, 2025	IFRS
YoY	+1.2%	+12.0%	+22.4%	+28.8%	+33.0%

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	184,755	8,419	8,505	6,266	40.6	12	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	187,426	8,444	8,527	5,907	39.9	8	Oct 31, 2024	IFRS
YoY	+1.4%	+0.3%	+0.3%	-5.7%	-1.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	336,910	21,634	21,161	16,229	99.3	12	Apr 27, 2023	IFRS
Mar, 2024	359,459	18,226	18,245	13,016	84.3	12	Apr 26, 2024	IFRS
Mar, 2025 Guidance	364,000	22,000	23,000	17,000	114.9	13	Oct 31, 2024	IFRS
YoY	+1.3%	+20.7%	+26.1%	+30.6%	+36.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	92,554	5,175	5,192	4,172	26.8	5.6	Feb 1, 2024	IFRS
Jan - Mar, 2024	92,201	3,244	3,313	2,094	13.6	3.5	Apr 26, 2024	IFRS
Apr - Jun, 2024	87,769	6,022	6,950	5,503	36.5	6.9	Aug 1, 2024	IFRS
Jul - Sep, 2024	88,805	7,534	7,523	5,590	37.1	8.5	Oct 31, 2024	IFRS
Oct - Dec, 2024	93,900	3,227	3,803	2,977	19.8	3.4	Feb 3, 2025	IFRS
YoY	+1.5%	-37.6%	-26.8%	-28.6%	-26.3%