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Kao, Net Income Forecast for the Fiscal Year Revised Upward by 4%

Wed Aug 6, 2025 3:30 pm JST Earnings

4452 Kao Corporation 【IFRS】

Earnings Report

Kao Corporation <4452> [TSE Prime] announced its financial results (based on IFRS) after the market closed on August 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending December 2025 (January to June) increased 14.3% from the same period last year, reaching 49.6 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 4.3%, from the previous forecast of 116 billion yen to 121 billion yen (compared to 107 billion yen in the previous period), increasing the growth rate from 7.6% to 12.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the July to December period (second half) is expected to grow 10.9% from the same period last year, reaching 71.3 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated net income amounted to 26.7 billion yen, a 0.6% decrease compared to the same period last year. However, the operating profit margin improved from 8.5% in the same period last year to 9.1%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Jun, 2023 738,528 25,900 28,639 16,624 35.8 44.9 Aug 3, 2023 IFRS
Jan - Jun, 2024 787,987 57,939 64,408 43,413 93.4 42.6 Aug 8, 2024 IFRS
Jan - Jun, 2025 809,022 69,469 71,766 49,631 106.9 42.7 Aug 6, 2025 IFRS
YoY +2.7% +19.9% +11.4% +14.3% +14.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance ー ー ー ー － 77 Feb 6, 2025 IFRS
Jan - Jun, 2025 Results 809,022 69,469 71,766 49,631 106.9 77 Aug 6, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 1,670,000 160,000 163,000 116,000 256.5 154 Feb 6, 2025 IFRS
Dec, 2025 New 1,690,000 165,000 168,000 121,000 267.5 154 Aug 6, 2025 IFRS
Revision Rate +1.2% +3.1% +3.1% +4.3% +4.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 840,461 88,705 86,616 64,354 138.5 76 Feb 6, 2025 IFRS
Jul - Dec, 2025 Guidance 880,978 95,531 96,234 71,369 157.8 77 Aug 6, 2025 IFRS
YoY +4.8% +7.7% +11.1% +10.9% +13.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 1,532,579 60,035 63,842 43,870 94.4 150 Feb 7, 2024 IFRS
Dec, 2024 1,628,448 146,644 151,024 107,767 231.9 152 Feb 6, 2025 IFRS
Dec, 2025 Guidance 1,690,000 165,000 168,000 121,000 267.5 154 Aug 6, 2025 IFRS
YoY +3.8% +12.5% +11.2% +12.3% +15.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 422,190 35,955 39,644 26,943 58.0 8.5 Aug 8, 2024 IFRS
Jul - Sep, 2024 402,024 43,116 39,608 27,614 59.4 10.7 Nov 7, 2024 IFRS
Oct - Dec, 2024 438,437 45,589 47,008 36,740 79.1 10.4 Feb 6, 2025 IFRS
Jan - Mar, 2025 389,857 31,184 31,574 22,850 49.2 8.0 May 8, 2025 IFRS
Apr - Jun, 2025 419,165 38,285 40,192 26,781 57.7 9.1 Aug 6, 2025 IFRS
YoY -0.7% +6.5% +1.4% -0.6% -0.5%

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