KAWADA TECH, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 6% Increase, Raises Record High Profit, Dividend Revised Upward by 30 yen

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Thu Feb 13, 2025 4:00 pm JST Earnings

3443 KAWADA TECHNOLOGIES,INC. 【J-GAAP】

Earnings Report

KAWADA TECHNOLOGIES,INC. <3443> [TSE Prime] announced its financial results after the market closed on February 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 10.3 billion yen, an increase 69.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 19.1%, from the previous forecast of 9.4 billion yen to 11.2 billion yen (compared to 10.5 billion yen in the previous period), record profits reach two consecutive terms, turning to a 6.3% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 60.9%, from the previous forecast of 2.95 billion yen to 4.75 billion yen (compared to 6.84 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 56.8% to 30.5%.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 130 yen (compared to 393 yen before the 3-for-1 forward stock split in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 61.5% from the same period last year, reaching 3.95 billion yen. The operating profit margin significantly improved from 6.7% in the same period last year to 10.6%.

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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	81,304	1,360	2,279	1,330	25.2	36.2	Feb 14, 2023	J-GAAP
Apr - Dec, 2023	96,884	5,262	6,142	4,034	77.2	58.3	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	100,984	8,459	10,394	8,087	156.1	92.8	Feb 13, 2025	J-GAAP
YoY	+4.2%	+60.8%	+69.2%	+100.5%	+102.4%

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	63,570	3,099	2,957	1,883	36.3	18.33	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	63,570	3,699	4,757	3,783	72.9	28.33	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+19.4%	+60.9%	+100.9%	+100.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	130,000	7,900	9,400	6,900	133.0	33.33	Nov 12, 2024	J-GAAP
Mar, 2025 New	130,000	8,500	11,200	8,800	169.6	43.33	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+7.6%	+19.1%	+27.5%	+27.5%

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	64,802	5,638	6,843	4,947	94.9	43.67	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	63,570	3,699	4,757	3,783	72.9	28.33	Feb 13, 2025	J-GAAP
YoY	-1.9%	-34.4%	-30.5%	-23.5%	-23.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	118,086	5,025	6,298	4,231	80.0	23.33	May 12, 2023	J-GAAP
Mar, 2024	129,127	8,734	10,538	7,541	144.7	43.67	May 14, 2024	J-GAAP
Mar, 2025 Guidance	130,000	8,500	11,200	8,800	169.6	43.33	Feb 13, 2025	J-GAAP
YoY	+0.7%	-2.7%	+6.3%	+16.7%	+17.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	32,559	2,166	2,447	1,440	27.5	6.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	32,243	3,472	4,396	3,507	67.3	10.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	32,856	2,483	2,846	2,048	39.6	7.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	33,574	2,318	3,597	2,969	57.4	6.9	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	34,554	3,658	3,951	3,070	59.3	10.6	Feb 13, 2025	J-GAAP
YoY	+6.1%	+68.9%	+61.5%	+113.2%	+115.2%