KINKI SHARYO, The Current Fiscal Year Ordinary Profit Revised Upward by 2.0 times

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Thu Feb 13, 2025 3:30 pm JST Earnings

7122 THE KINKI SHARYO CO.,LTD. 【J-GAAP】

Earnings Report

THE KINKI SHARYO CO.,LTD. <7122> [TSE Std] announced its financial results after the market closed on February 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 73.5% from the same period last year to 1.01 billion yen.

However, the full-year consolidated ordinary profit has been revised upward 2.0 times, from the previous forecast of 0.1 billion yen to 0.2 billion yen (compared to 5 billion yen in the previous period), and the declining rate is expected to decrease from 98.0% to 96.0%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 2.2 times, from the previous forecast of 0.08 billion yen to 0.18 billion yen (compared to 2.68 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 97.0% to 93.3%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit dropped to 0.99 billion yen, a 34.0% decrease compared to the same period last year. The operating profit margin sharply declined from 13.6% in the same period last year to 3.4%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	27,066	1,862	2,092	2,064	300.0	163.1	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	29,739	3,495	3,834	3,375	490.5	76.6	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	21,548	614	1,017	1,007	146.4	508.5	Feb 13, 2025	J-GAAP
YoY	-27.5%	-82.4%	-73.5%	-70.2%	-70.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	18,412	-243	81	93	13.5	50	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	17,412	-43	181	93	13.5	50	Feb 13, 2025	J-GAAP
Revision Rate	-5.4%	+82.3%	+123.5%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	32,000	100	100	100	14.5	50	May 13, 2024	J-GAAP
Mar, 2025 New	31,000	300	200	100	14.5	50	Feb 13, 2025	J-GAAP
Revision Rate	-3.1%	+200.0%	+100.0%	0.0%	0.0%

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	27,083	2,669	2,686	2,479	360.3	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	17,412	-43	181	93	13.5	50	Feb 13, 2025	J-GAAP
YoY	-35.7%	－	-93.3%	-96.2%	-96.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	35,873	1,229	1,283	1,183	172.0	50	May 12, 2023	J-GAAP
Mar, 2024	43,154	4,306	5,008	4,373	635.6	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	31,000	300	200	100	14.5	50	Feb 13, 2025	J-GAAP
YoY	-28.2%	-93.0%	-96.0%	-97.7%	-97.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	13,668	1,858	1,512	1,481	215.2	13.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	13,415	811	1,174	998	145.1	6.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	7,264	495	880	822	119.5	6.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,324	-152	-861	-815	-133.9	-2.4	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	7,960	271	998	1,000	145.4	3.4	Feb 13, 2025	J-GAAP
YoY	-41.8%	-85.4%	-34.0%	-32.5%	-32.4%