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FUJI KYUKO CO., LTD., First Half Ordinary Profit Revised Downward to an Unexpected 16%Decrease

Wed Nov 6, 2024 3:30 pm JST Earnings

9010 FUJI KYUKO CO., LTD. 【J-GAAP】

Earnings Report

FUJI KYUKO CO., LTD. <9010> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.7% from the same period last year to 4.03 billion yen, resulting in a decrease in profits compared to the previous forecast of a 7.7% increase.

The progress rate against the 8.4 billion yen full-year plan was 48.0%, also falling below the five-year average of 65.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 38.7% from the same period last year, reaching 4.36 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 2.13 billion yen, a 39.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 24.6% in the same period last year to 16.4%.

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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 20,610 1,944 1,807 941 17.7 45.1 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 25,917 4,893 4,789 3,178 59.9 60.3 Nov 1, 2023 J-GAAP
Apr - Sep, 2024 25,811 4,139 4,035 2,669 50.3 48.0 Nov 6, 2024 J-GAAP
YoY -0.4% -15.4% -15.7% -16.0% -16.0%

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 27,900 5,290 5,160 3,290 62.0 － May 8, 2024 J-GAAP
Apr - Sep, 2024 Results 25,811 4,139 4,035 2,669 50.3 － Nov 6, 2024 J-GAAP
Revision Rate -7.5% -21.8% -21.8% -18.9% -18.9%

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 24,784 3,258 3,147 1,393 26.2 26 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 27,689 4,561 4,365 2,331 43.9 29 Nov 6, 2024 J-GAAP
YoY +11.7% +40.0% +38.7% +67.3% +67.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 42,924 4,243 4,007 2,318 43.7 15 May 10, 2023 J-GAAP
Mar, 2024 50,701 8,151 7,936 4,571 86.1 26 May 8, 2024 J-GAAP
Mar, 2025 Guidance 53,500 8,700 8,400 5,000 94.2 29 May 8, 2024 J-GAAP
YoY +5.5% +6.7% +5.8% +9.4% +9.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 14,639 3,600 3,505 2,336 44.0 24.6 Nov 1, 2023 J-GAAP
Oct - Dec, 2023 13,110 2,310 2,259 1,523 28.7 17.6 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 11,674 948 888 -130 -2.5 8.1 May 8, 2024 J-GAAP
Apr - Jun, 2024 12,233 1,906 1,902 1,270 23.9 15.6 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 13,578 2,233 2,133 1,399 26.4 16.4 Nov 6, 2024 J-GAAP
YoY -7.2% -38.0% -39.1% -40.1% -40.1%

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