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Kumagai Gumi, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 8% Decrease

Thu Feb 13, 2025 3:30 pm JST Earnings

1861 Kumagai Gumi Co.,Ltd. 【J-GAAP】

Earnings Report

Kumagai Gumi Co.,Ltd. <1861> [TSE Prime] announced its financial results after the market closed on February 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 83.2% from the same period last year to 1.57 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 22.1%, from the previous forecast of 15.4 billion yen to 12 billion yen (compared to 13 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 8.0% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 24.0%, from the previous forecast of 14.1 billion yen to 10.7 billion yen (compared to 9.04 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 56.5% to 18.9%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.32 billion yen, a 93.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.9% in the same period last year to 0.3%.

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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 285,577 5,753 6,371 3,988 22.4 52.1 Feb 10, 2023 J-GAAP
Apr - Dec, 2023 307,754 9,253 9,350 5,919 34.2 71.7 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 330,709 1,581 1,575 583 3.4 13.1 Feb 13, 2025 J-GAAP
YoY +7.5% -82.9% -83.2% -90.2% -90.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 242,708 13,761 14,151 9,574 55.8 32.50 Nov 12, 2024 J-GAAP
Oct - Mar, 2024 New 270,508 10,561 10,751 7,174 41.8 32.50 Feb 13, 2025 J-GAAP
Revision Rate +11.5% -23.3% -24.0% -25.1% -25.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 462,200 15,000 15,400 10,100 58.8 32.50 May 14, 2024 J-GAAP
Mar, 2025 New 490,000 11,800 12,000 7,700 44.9 32.50 Feb 13, 2025 J-GAAP
Revision Rate +6.0% -21.3% -22.1% -23.8% -23.8%

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 246,936 8,881 9,044 5,885 34.0 32.50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 270,508 10,561 10,751 7,174 41.8 32.50 Feb 13, 2025 J-GAAP
YoY +9.5% +18.9% +18.9% +21.9% +22.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 403,502 11,483 12,236 7,973 44.9 32.50 May 12, 2023 J-GAAP
Mar, 2024 443,193 12,649 13,040 8,316 48.1 32.50 May 14, 2024 J-GAAP
Mar, 2025 Guidance 490,000 11,800 12,000 7,700 44.9 32.50 Feb 13, 2025 J-GAAP
YoY +10.6% -6.7% -8.0% -7.4% -6.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 111,497 5,485 5,354 3,488 20.1 4.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 135,439 3,396 3,690 2,397 13.9 2.5 May 14, 2024 J-GAAP
Apr - Jun, 2024 102,676 451 372 109 0.6 0.4 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 116,816 788 877 417 2.4 0.7 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 111,217 342 326 57 0.3 0.3 Feb 13, 2025 J-GAAP
YoY -0.3% -93.8% -93.9% -98.4% -98.4%

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