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KAWADEN CORPORATION, First Half Ordinary Profit Increases by 30%

Mon Nov 11, 2024 3:30 pm JST Earnings

6648 KAWADEN CORPORATION 【J-GAAP】

Earnings Report

KAWADEN CORPORATION <6648> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 29.5% from the same period last year, reaching 724 million yen, exceeded the previous forecast of 600 million yen.

The progress rate against the 1.2 billion yen full-year plan was 60.3%, also surpassing the five-year average of 42.5%.

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 decrease by 19.9% from the same period last year to 476 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 372 million yen, a 14.1% decrease compared to the same period last year. The operating profit margin worsened from 7.4% in the same period last year to 7.0%.

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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 9,487 265 255 136 42.6 50.9 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 10,666 553 559 375 117.2 48.5 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 10,492 714 724 467 146.1 60.3 Nov 11, 2024 J-GAAP
YoY -1.6% +29.1% +29.5% +24.5% +24.6%

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 11,000 600 600 390 121.8 40 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 10,492 714 724 467 146.1 40 Nov 11, 2024 J-GAAP
Revision Rate -4.6% +19.0% +20.7% +19.7% +20.0%

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 10,668 581 594 369 115.3 50 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 11,508 486 476 313 97.7 40 Nov 11, 2024 J-GAAP
YoY +7.9% -16.4% -19.9% -15.2% -15.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 19,664 509 501 320 100.0 80 May 11, 2023 J-GAAP
Mar, 2024 21,334 1,134 1,153 744 232.4 90 May 9, 2024 J-GAAP
Mar, 2025 Guidance 22,000 1,200 1,200 780 243.5 80 May 9, 2024 J-GAAP
YoY +3.1% +5.8% +4.1% +4.8% +4.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,716 425 433 343 107.2 7.4 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 5,746 433 431 270 84.4 7.5 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 4,922 148 163 99 30.9 3.0 May 9, 2024 J-GAAP
Apr - Jun, 2024 5,289 348 352 228 71.2 6.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 5,203 366 372 239 74.8 7.0 Nov 11, 2024 J-GAAP
YoY -9.0% -13.9% -14.1% -30.3% -30.3%

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