Kanamoto (9678) Q2 2024 earnings summary

Executive summary

• Consolidated net sales for Q2 FY2024 reached ¥100,681 million, up 3.5% year-over-year, with operating profit at ¥6,188 million, up 16.2%, and EPS at ¥101.50, up 23.9%.

• Profit attributable to owners of parent rose 23.9% year-over-year to ¥3,623 million.

• Comprehensive income increased to ¥5,111 million from ¥3,097 million year-over-year.

• The company focused on optimizing rental unit prices and asset allocation, supporting profit structure improvements.

Financial highlights

• Ordinary profit for Q2 FY2024 was ¥6,456 million, up 17.6% year-over-year.

• Earnings per share for the period were ¥101.50, compared to ¥80.23 in the prior year.

• Equity ratio improved to 43.1% from 42.5% at the end of the previous fiscal year.

• Cash and cash equivalents at end of Q2 FY2024 were ¥50,266 million, up ¥5,172 million from the previous year.

• Regional rental sales saw strong growth in Kyushu & Okinawa (+20.2%) and Hokkaido (+8.2%), while Tohoku declined 2.6%.

Outlook and guidance

• FY2024 full-year projections: net sales ¥205,300 million (+4.0%), operating profit ¥14,100 million (+17.9%), ordinary profit ¥14,300 million (+14.5%), profit attributable to owners of parent ¥8,300 million (+23.5%), EPS ¥232.52.

• No changes have been made to previously announced forecasts.

• Public investment expected to remain strong; private capital investment recovery anticipated despite concerns over rising construction costs.