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KOITO MANUFACTURING CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 16%

Tue Oct 29, 2024 3:00 pm JST Earnings

7276 KOITO MANUFACTURING CO.,LTD. 【J-GAAP】

Earnings Report

KOITO MANUFACTURING CO.,LTD. <7276> [TSE-P] announced its financial results after the market closed on October 29th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.2% from the same period last year to 19.8 billion yen, fell short of the previous forecast of 24.5 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 15.6%, from the previous forecast of 54.5 billion yen to 46 billion yen (compared to 63.2 billion yen in the previous period), leading to an increase in the profit decline rate from 13.9% to 27.3%.

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 nearly flat at 26.1 billion yen, down 0.9% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 7.98 billion yen, a 57.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.3% in the same period last year to 4.2%.

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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 415,611 19,790 22,407 7,026 21.9 46.2 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 468,153 32,513 36,909 25,524 80.8 58.3 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 444,073 18,067 19,871 11,282 37.3 43.2 Oct 29, 2024 J-GAAP
YoY -5.1% -44.4% -46.2% -55.8% -53.8%

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 452,000 20,500 24,500 14,500 48.7 28 Jul 29, 2024 J-GAAP
Apr - Sep, 2024 Results 444,073 18,067 19,871 11,282 37.3 28 Oct 29, 2024 J-GAAP
Revision Rate -1.8% -11.9% -18.9% -22.2% -23.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 928,500 49,000 54,500 37,000 130.4 56 Jul 29, 2024 J-GAAP
Mar, 2025 New 912,000 43,000 46,000 31,000 109.3 56 Oct 29, 2024 J-GAAP
Revision Rate -1.8% -12.2% -15.6% -16.2% -16.2%

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 482,142 23,482 26,356 15,355 49.2 28 Apr 25, 2024 J-GAAP
Oct - Mar, 2024 Guidance 467,927 24,933 26,129 19,718 69.5 28 Oct 29, 2024 J-GAAP
YoY -2.9% +6.2% -0.9% +28.4% +41.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 864,719 46,847 48,532 29,660 92.3 28 Apr 26, 2023 J-GAAP
Mar, 2024 950,295 55,995 63,265 40,879 130.9 53 Apr 25, 2024 J-GAAP
Mar, 2025 Guidance 912,000 43,000 46,000 31,000 109.3 56 Oct 29, 2024 J-GAAP
YoY -4.0% -23.2% -27.3% -24.2% -16.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 242,158 17,772 18,968 10,939 34.6 7.3 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 246,808 16,028 16,240 11,187 35.7 6.5 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 235,334 7,454 10,116 4,168 13.4 3.2 Apr 25, 2024 J-GAAP
Apr - Jun, 2024 229,772 9,045 11,886 7,296 23.9 3.9 Jul 29, 2024 J-GAAP
Jul - Sep, 2024 214,301 9,022 7,985 3,986 13.2 4.2 Oct 29, 2024 J-GAAP
YoY -11.5% -49.2% -57.9% -63.6% -61.9%

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