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KANESO Co.,LTD., First Half Ordinary Profit Decreases by 38%

Tue Nov 5, 2024 2:40 pm JST Earnings

5979 KANESO Co.,LTD. 【J-GAAP】

Earnings Report

KANESO Co.,LTD. <5979> [NSE-M] announced its financial results in the afternoon session on November 5th (14:40). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 38.4% from the same period last year to 375 million yen, fell short of the previous forecast of 450 million yen.

The progress rate against the 1.07 billion yen full-year plan was 35.0%, almost the same as the five-year average of 32.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 1.9% from the same period last year, reaching 695 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 169 million yen, a 49.7% decrease compared to the same period last year. The operating profit margin significantly dropped from 15.9% in the same period last year to 8.4%.

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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
Apr - Sep, 2022 3,646 338 349 241 170.0 33.2 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 4,024 601 609 492 345.7 47.2 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 3,897 370 375 262 184.7 35.0 Nov 5, 2024 J-GAAP
YoY -3.2% -38.4% -38.4% -46.7% -46.6%

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 4,030 445 450 310 217.8 75 May 7, 2024 J-GAAP
Apr - Sep, 2024 Results 3,897 370 375 262 184.7 75 Nov 5, 2024 J-GAAP
Revision Rate -3.3% -16.9% -16.7% -15.5% -15.2%

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 4,640 677 682 549 385.9 125 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,803 690 695 468 328.8 75 Nov 5, 2024 J-GAAP
YoY +3.5% +1.9% +1.9% -14.8% -14.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 8,096 1,012 1,050 709 498.6 200 May 8, 2023 J-GAAP
Mar, 2024 8,664 1,278 1,291 1,041 731.7 200 May 7, 2024 J-GAAP
Mar, 2025 Guidance 8,700 1,060 1,070 730 512.8 150 May 7, 2024 J-GAAP
YoY +0.4% -17.1% -17.1% -29.9% -29.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,090 332 336 232 163.0 15.9 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 2,321 377 380 263 184.8 16.2 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 2,319 300 302 286 201.0 12.9 May 7, 2024 J-GAAP
Apr - Jun, 2024 1,918 203 206 141 99.6 10.6 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 1,979 167 169 121 85.3 8.4 Nov 5, 2024 J-GAAP
YoY -5.3% -49.7% -49.7% -47.8% -47.7%

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