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Komehyo Holdings, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 22% Decrease

Thu Feb 13, 2025 4:00 pm JST Earnings

2780 Komehyo Holdings Co.,Ltd. 【J-GAAP】

Earnings Report

Komehyo Holdings Co.,Ltd. <2780> [TSE Std] 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) decreased 3.5% from the same period last year to 4.97 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 30.2%, from the previous forecast of 8.4 billion yen to 5.86 billion yen (compared to 7.47 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 21.6% 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 47.6%, from the previous forecast of 5.33 billion yen to 2.79 billion yen (compared to 4.2 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 33.7% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 1.9 billion yen, an increase of 1.1% compared to the same period last year. However, the operating profit margin worsened from 6.1% in the same period last year to 4.6%.

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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 62,696 3,710 3,978 2,694 246.0 73.6 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 84,141 5,121 5,158 3,674 335.3 69.0 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 111,815 5,086 4,976 3,780 345.0 84.9 Feb 13, 2025 J-GAAP
YoY +32.9% -0.7% -3.5% +2.9% +2.9%

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 75,053 5,344 5,331 3,599 328.4 52 Nov 13, 2024 J-GAAP
Oct - Mar, 2024 New 89,053 2,874 2,791 2,319 211.6 52 Feb 13, 2025 J-GAAP
Revision Rate +18.7% -46.2% -47.6% -35.6% -35.6%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 144,500 8,470 8,400 5,560 507.3 104 Aug 13, 2024 J-GAAP
Mar, 2025 New 158,500 6,000 5,860 4,280 390.5 104 Feb 13, 2025 J-GAAP
Revision Rate +9.7% -29.2% -30.2% -23.0% -23.0%

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 66,695 4,242 4,208 2,888 263.6 44 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 89,053 2,874 2,791 2,319 211.6 52 Feb 13, 2025 J-GAAP
YoY +33.5% -32.2% -33.7% -19.7% -19.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 86,113 5,168 5,406 3,706 338.3 60 May 15, 2023 J-GAAP
Mar, 2024 119,459 7,452 7,479 5,025 458.7 88 May 13, 2024 J-GAAP
Mar, 2025 Guidance 158,500 6,000 5,860 4,280 390.5 104 Feb 13, 2025 J-GAAP
YoY +32.7% -19.5% -21.6% -14.8% -14.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 31,377 1,911 1,887 1,537 140.3 6.1 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 35,318 2,331 2,321 1,351 123.3 6.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 33,499 2,137 2,186 1,412 128.9 6.4 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 35,948 989 883 549 50.1 2.8 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 42,368 1,960 1,907 1,819 166.0 4.6 Feb 13, 2025 J-GAAP
YoY +35.0% +2.6% +1.1% +18.3% +18.3%

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