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Kin-Ei Corp., 2Q (May-July) Ordinary Profit Decreases by 49%

Mon Sep 9, 2024 3:00 pm JST Earnings

9636 Kin-Ei Corp. 【J-GAAP】

Earnings Report

Kin-Ei Corp. <9636> [TSE-S] announced its financial results after the market closed on September 9th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) was 171 million yen, a 0.6% decrease compared to the same period last year. This progress accounts for 68.4% of the full-year plan of 250 million yen, almost the same as the five-year average of 68.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to decrease by 3.7% from the same period last year to 79 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary profit dropped to 47 million yen, a 49.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.7% in the same period last year to 5.6%.

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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
Feb - Jul, 2022 1,624 101 104 84 30.5 56.8 Sep 8, 2022 J-GAAP
Feb - Jul, 2023 1,833 172 172 117 42.3 67.7 Sep 8, 2023 J-GAAP
Feb - Jul, 2024 1,795 169 171 117 42.0 68.4 Sep 9, 2024 J-GAAP
YoY -2.1% -1.7% -0.6% 0.0% -0.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2024 Guidance 1,795 169 171 117 42.0 0 Sep 5, 2024 J-GAAP
Feb - Jul, 2024 Results 1,795 169 171 117 42.0 0 Sep 9, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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
Aug - Jan, 2023 1,737 83 82 37 13.4 10 Mar 15, 2024 J-GAAP
Aug - Jan, 2024 Guidance 1,725 71 79 38 13.6 10 Sep 5, 2024 J-GAAP
YoY -0.7% -14.5% -3.7% +2.7% +2.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 3,344 174 183 124 44.7 10 Mar 14, 2023 J-GAAP
Jan, 2024 3,570 255 254 154 55.6 10 Mar 15, 2024 J-GAAP
Jan, 2025 Guidance 3,520 240 250 155 55.6 10 Sep 5, 2024 J-GAAP
YoY -1.4% -5.9% -1.6% +0.6% +0.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2023 944 92 93 63 22.8 9.7 Sep 8, 2023 J-GAAP
Aug - Oct, 2023 873 59 58 34 12.2 6.8 Dec 13, 2023 J-GAAP
Nov - Jan, 2023 864 24 24 3 1.1 2.8 Mar 15, 2024 J-GAAP
Feb - Apr, 2024 960 122 124 86 30.9 12.7 Jun 14, 2024 J-GAAP
May - Jul, 2024 835 47 47 31 11.1 5.6 Sep 9, 2024 J-GAAP
YoY -11.5% -48.9% -49.5% -50.8% -51.2%

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