kabutan

KYOWA LEATHER CLOTH CO.,LTD, First Half Ordinary Profit Revised Downward to an Unexpected 17%Decrease

Wed Oct 30, 2024 3:30 pm JST Earnings

3553 KYOWA LEATHER CLOTH CO.,LTD 【J-GAAP】

Earnings Report

KYOWA LEATHER CLOTH CO.,LTD <3553> [TSE-S] announced its financial results after the market closed on October 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.7% from the same period last year to 834 million yen, resulting in a decrease in profits compared to the previous forecast of a 9.9% increase.

The progress rate against the 2.65 billion yen full-year plan was 31.5%, almost the same as the five-year average of 32.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 6.6% from the same period last year, reaching 1.81 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 305 million yen, a 53.5% decrease compared to the same period last year. The operating profit margin worsened from 5.3% in the same period last year to 3.7%.

Kabutan News

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
Apr - Sep, 2022 21,593 -364 133 89 3.7 22.5 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 24,039 884 1,001 647 26.9 37.0 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 26,100 923 834 531 22.2 31.5 Oct 30, 2024 J-GAAP
YoY +8.6% +4.4% -16.7% -17.9% -17.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 26,000 1,000 1,100 700 29.4 16 May 8, 2024 J-GAAP
Apr - Sep, 2024 Results 26,100 923 834 531 22.2 16 Oct 30, 2024 J-GAAP
Revision Rate +0.4% -7.7% -24.2% -24.1% -24.3%

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 27,998 1,683 1,703 1,311 54.4 18 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 26,900 1,677 1,816 1,219 51.2 16 Oct 30, 2024 J-GAAP
YoY -3.9% -0.4% +6.6% -7.0% -6.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 45,792 237 591 347 14.4 20 May 9, 2023 J-GAAP
Mar, 2024 52,037 2,567 2,704 1,958 81.3 32 May 8, 2024 J-GAAP
Mar, 2025 Guidance 53,000 2,600 2,650 1,750 73.4 32 May 8, 2024 J-GAAP
YoY +1.9% +1.3% -2.0% -10.6% -9.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,540 664 656 430 17.9 5.3 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 14,833 1,377 1,330 1,002 41.6 9.3 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 13,165 306 373 309 12.8 2.3 May 8, 2024 J-GAAP
Apr - Jun, 2024 12,342 420 529 353 14.7 3.4 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 13,758 503 305 178 7.5 3.7 Oct 30, 2024 J-GAAP
YoY +9.7% -24.2% -53.5% -58.6% -58.2%

Related Articles