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Kawai Musical Instruments, The Current Fiscal Year Net Income Revised Downward to a Loss, The Undetermined Dividend Set at 95 yen

Fri Feb 14, 2025 3:30 pm JST Earnings

7952 Kawai Musical Instruments Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Kawai Musical Instruments Manufacturing Co.,Ltd. <7952> [TSE Prime] announced its financial results after the market closed on February 14th (15:30). The consolidated net income/loss for the cumulative third quarter of the fiscal year ending March 2025 (April to December) turned into a loss of 0.16 billion yen (compared to a profit of 2.11 billion yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 0.4 billion yen to a loss of 0.4 billion yen (compared to a profit of 2.78 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (2H) has decreased 99.3%, from the previous forecast of 0.8 billion yen to 0 billion yen (compared to 1.24 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 35.3% to 99.5%.

At the same time, the company has decided to implement a year-end lump-sum dividend of 95 yen for the current fiscal year, which was previously undecided (compared to 95 yen in the prior term).

In the most recent three-month period, from October to December (3Q), the consolidated net income significantly dropped to 0.23 billion yen, a 59.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.9% in the same period last year to 0.3%.

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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 64,692 3,737 4,107 2,498 290.7 72.8 Feb 9, 2023 J-GAAP
Apr - Dec, 2023 59,934 2,770 3,367 2,117 246.4 80.1 Feb 14, 2024 J-GAAP
Apr - Dec, 2024 54,455 -159 106 -169 -19.7 ー Feb 14, 2025 J-GAAP
YoY -9.1% － -96.9% － －

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 41,344 1,222 1,226 806 93.7 － Nov 12, 2024 J-GAAP
Oct - Mar, 2024 New 36,844 -178 226 6 0.7 95 Feb 14, 2025 J-GAAP
Revision Rate -10.9% － -81.6% -99.3% -99.3%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 77,500 1,000 1,000 400 46.5 － May 15, 2024 J-GAAP
Mar, 2025 New 73,000 -400 0 -400 -46.5 95 Feb 14, 2025 J-GAAP
Revision Rate -5.8% － － － －

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 39,787 1,443 1,782 1,245 144.9 95 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 36,844 -178 226 6 0.7 95 Feb 14, 2025 J-GAAP
YoY -7.4% － -87.3% -99.5% -99.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 87,771 5,045 5,639 3,672 427.3 85 May 11, 2023 J-GAAP
Mar, 2024 80,192 3,255 4,201 2,782 323.7 95 May 15, 2024 J-GAAP
Mar, 2025 Guidance 73,000 -400 0 -400 -46.5 95 Feb 14, 2025 J-GAAP
YoY -9.0% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 19,529 958 948 580 67.5 4.9 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 20,258 485 834 665 77.4 2.4 May 15, 2024 J-GAAP
Apr - Jun, 2024 17,602 -555 -227 -283 -33.0 -3.2 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 18,554 333 1 -123 -14.3 1.8 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 18,299 63 332 237 27.6 0.3 Feb 14, 2025 J-GAAP
YoY -6.3% -93.4% -65.0% -59.1% -59.1%

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