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

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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	89.4	52.1	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	307,754	9,253	9,350	5,919	136.7	71.7	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	330,709	1,581	1,575	583	13.6	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	223.1	130	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	270,508	10,561	10,751	7,174	167.1	130	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	235.3	130	May 14, 2024	J-GAAP
Mar, 2025 New	490,000	11,800	12,000	7,700	179.4	130	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	136.1	130	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	270,508	10,561	10,751	7,174	167.1	130	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	179.6	130	May 12, 2023	J-GAAP
Mar, 2024	443,193	12,649	13,040	8,316	192.4	130	May 14, 2024	J-GAAP
Mar, 2025 Guidance	490,000	11,800	12,000	7,700	179.4	130	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	80.6	4.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	135,439	3,396	3,690	2,397	55.5	2.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	102,676	451	372	109	2.5	0.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	116,816	788	877	417	9.7	0.7	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	111,217	342	326	57	1.3	0.3	Feb 13, 2025	J-GAAP
YoY	-0.3%	-93.8%	-93.9%	-98.4%	-98.3%