KOKUYO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 8%

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Mon Oct 28, 2024 4:00 pm JST Earnings

7984 KOKUYO CO.,LTD. 【J-GAAP】

Earnings Report

KOKUYO CO.,LTD. <7984> [TSE-P] announced its financial results after the market closed on October 28th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 11.4% from the same period last year to 19.1 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 7.8%, from the previous forecast of 25.5 billion yen to 23.5 billion yen (compared to 25.9 billion yen in the previous period), leading to an increase in the profit decline rate from 1.9% to 9.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 26.6%, from the previous forecast of 7.52 billion yen to 5.52 billion yen (compared to 8.72 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 13.7% to 36.7%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 1.22 billion yen, a 72.2% decrease compared to the same period last year. The operating profit margin worsened from 5.2% in the same period last year to 2.5%.

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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
Jan - Sep, 2022	224,899	14,963	17,555	13,053	112.9	83.0	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	248,813	19,677	21,667	14,874	128.9	83.4	Oct 30, 2023	J-GAAP
Jan - Sep, 2024	251,549	17,510	19,197	16,374	144.4	81.7	Oct 28, 2024	J-GAAP
YoY	+1.1%	-11.0%	-11.4%	+10.1%	+12.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	176,319	8,824	7,526	5,775	51.0	38	Jul 29, 2024	J-GAAP
Jul - Dec, 2024 New	159,319	5,824	5,526	5,775	51.0	38	Oct 28, 2024	J-GAAP
Revision Rate	-9.6%	-34.0%	-26.6%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	355,000	24,500	25,500	21,400	188.9	76	Feb 13, 2024	J-GAAP
Dec, 2024 New	338,000	21,500	23,500	21,400	188.9	76	Oct 28, 2024	J-GAAP
Revision Rate	-4.8%	-12.2%	-7.8%	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
Jul - Dec, 2023	155,168	8,057	8,723	7,322	63.6	34	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	159,319	5,824	5,526	5,775	51.0	38	Oct 28, 2024	J-GAAP
YoY	+2.7%	-27.7%	-36.7%	-21.1%	-19.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	300,929	19,128	21,161	18,237	157.8	57	Feb 13, 2023	J-GAAP
Dec, 2023	328,753	23,830	25,989	19,069	165.6	66.50	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	338,000	21,500	23,500	21,400	188.9	76	Oct 28, 2024	J-GAAP
YoY	+2.8%	-9.8%	-9.6%	+12.2%	+14.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	75,228	3,904	4,401	3,127	27.1	5.2	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	79,940	4,153	4,322	4,195	36.4	5.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	95,935	11,665	12,565	11,978	105.5	12.2	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	82,746	4,011	5,409	3,647	32.2	4.8	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	72,868	1,834	1,223	749	6.6	2.5	Oct 28, 2024	J-GAAP
YoY	-3.1%	-53.0%	-72.2%	-76.0%	-75.6%