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Keyware Solutions, The Current Fiscal Year Net Income Revised Upward by 10%, Raises Record High Profit Forecast, Dividend Revised Upward by 3 yen

Thu Feb 13, 2025 3:30 pm JST Earnings

3799 Keyware Solutions Inc. 【J-GAAP】

Earnings Report

Keyware Solutions Inc. <3799> [TSE Std] announced its financial results after the market closed on February 13th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 20.0% from the same period last year to 409 million yen.

However, the full-year consolidated net income has been revised upward 10.4%, from the previous forecast of 770 million yen to 850 million yen (compared to 729 million yen in the previous period), increasing the growth rate from 5.6% to 16.6%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 13.9%, from the previous forecast of 576 million yen to 656 million yen (compared to 496 million yen in the same period of the previous year), increasing the growth rate from 16.1% to 32.3%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 25 yen to 28 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 215 million yen, a 22.7% decrease compared to the same period last year. The operating profit margin worsened from 4.6% in the same period last year to 3.9%.

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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 13,570 160 404 264 32.9 43.9 Jan 31, 2023 J-GAAP
Apr - Dec, 2023 14,606 382 652 511 63.6 59.8 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 15,034 248 524 409 50.8 47.6 Feb 13, 2025 J-GAAP
YoY +2.9% -35.1% -19.6% -20.0% -20.0%

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 11,089 953 842 576 71.5 25 Oct 31, 2024 J-GAAP
Oct - Mar, 2024 New 11,089 753 842 656 81.4 28 Feb 13, 2025 J-GAAP
Revision Rate 0.0% -21.0% 0.0% +13.9% +13.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 21,000 1,000 1,100 770 95.5 25 May 14, 2024 J-GAAP
Mar, 2025 New 21,000 800 1,100 850 105.4 28 Feb 13, 2025 J-GAAP
Revision Rate 0.0% -20.0% 0.0% +10.4% +10.4%

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 11,052 730 758 496 61.7 20 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 11,089 753 842 656 81.4 28 Feb 13, 2025 J-GAAP
YoY +0.3% +3.2% +11.1% +32.3% +31.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 19,173 738 921 482 60.1 12 May 12, 2023 J-GAAP
Mar, 2024 20,511 873 1,090 729 90.7 20 May 14, 2024 J-GAAP
Mar, 2025 Guidance 21,000 800 1,100 850 105.4 28 Feb 13, 2025 J-GAAP
YoY +2.4% -8.4% +0.9% +16.6% +16.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 5,147 239 320 278 34.6 4.6 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 5,905 491 438 218 27.1 8.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 4,605 -190 -56 -34 -4.2 -4.1 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 5,306 237 314 228 28.4 4.5 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 5,123 201 266 215 26.7 3.9 Feb 13, 2025 J-GAAP
YoY -0.5% -15.9% -16.9% -22.7% -22.7%

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