KIMURA CHEMICAL PLANTS CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 26% Increase, Highest in Three Terms, Dividend Revised Upward by 12 yen

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Fri Nov 8, 2024 4:00 pm JST Earnings

6378 KIMURA CHEMICAL PLANTS CO., LTD. 【J-GAAP】

Earnings Report

KIMURA CHEMICAL PLANTS CO., LTD. <6378> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.48 billion yen, an increase of 78.1% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 35.0% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 99.3%, from the previous forecast of 1.39 billion yen to 2.77 billion yen (compared to 2.2 billion yen in the previous period), reaches new record high for the first time in three terms, turning to a 25.8% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 5.9% from the same period last year to 1.29 billion yen.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 18 yen to 30 yen (compared to 25 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 369 million yen, a 0.8% decrease compared to the same period last year. The operating profit margin worsened from 6.9% in the same period last year to 6.2%.

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	9,355	569	629	361	18.4	35.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	11,021	763	831	556	28.2	37.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	12,346	1,436	1,480	1,007	50.9	53.4	Nov 8, 2024	J-GAAP
YoY	+12.0%	+88.2%	+78.1%	+81.1%	+80.5%

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	10,600	510	540	390	19.7	－	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	12,346	1,436	1,480	1,007	50.9	－	Nov 8, 2024	J-GAAP
Revision Rate	+16.5%	+181.6%	+174.1%	+158.2%	+158.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	22,100	1,330	1,390	1,020	51.5	18	May 10, 2024	J-GAAP
Mar, 2025 New	27,000	2,720	2,770	1,930	97.4	30	Nov 8, 2024	J-GAAP
Revision Rate	+22.2%	+104.5%	+99.3%	+89.2%	+89.2%

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	13,649	1,325	1,371	996	50.4	25	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,654	1,284	1,290	923	46.6	30	Nov 8, 2024	J-GAAP
YoY	+7.4%	-3.1%	-5.9%	-7.3%	-7.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,553	1,736	1,797	999	50.8	15	May 12, 2023	J-GAAP
Mar, 2024	24,670	2,088	2,202	1,552	78.5	25	May 10, 2024	J-GAAP
Mar, 2025 Guidance	27,000	2,720	2,770	1,930	97.4	30	Nov 8, 2024	J-GAAP
YoY	+9.4%	+30.3%	+25.8%	+24.4%	+24.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,097	351	372	249	12.6	6.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	5,687	674	687	496	25.1	11.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	7,962	651	684	500	25.3	8.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	6,606	1,079	1,111	745	37.6	16.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,740	357	369	262	13.2	6.2	Nov 8, 2024	J-GAAP
YoY	+12.6%	+1.7%	-0.8%	+5.2%	+4.8%