Kimura Unity Co (9368) Q2 2024 earnings summary

Executive summary

• H1 FY2024 revenue reached a record ¥29,303 million, up 3.5% YoY; operating, ordinary and net income also hit H1 records, each rising for a third consecutive year.

• Results exceeded H1 forecasts for revenue, operating income, ordinary income and net income; full-year guidance was unchanged.

Financial highlights

• H1 revenue was ¥29,303 million, up ¥985 million or 3.5% YoY; operating income was ¥1,847 million, up 36.4%.

• Ordinary income rose 18.4% YoY to ¥2,354 million; net income attributable to owners of parent rose 23.1% to ¥1,531 million.

• Operating margin was 6.3%, up 1.5 percentage points YoY; ordinary margin was 8.0%, up 1.0 point, and net margin was 5.2%, up 0.8 point.

• Versus H1 forecasts, revenue exceeded plan by ¥303 million; operating income by ¥247 million, ordinary income by ¥354 million and net income by ¥281 million.

Outlook and guidance

• FY2024 guidance remains revenue ¥60,000 million, operating income ¥3,600 million, ordinary income ¥4,200 million and net income ¥2,800 million.

• Guidance implies YoY growth of 1.5% in revenue, 10.1% in operating income, 5.9% in ordinary income and 13.3% in net income.

• Full-year outlook targets a third consecutive year of revenue, operating income and net income growth, and a sixth consecutive year of ordinary income growth, with each expected to reach a record.

• FY2024 segment forecasts: logistics revenue ¥43,000 million and operating income ¥4,300 million; automotive services ¥14,400 million and ¥770 million.

• Information services forecast revenue of ¥2,030 million and operating income of ¥270 million; staffing services forecast revenue of ¥1,800 million and operating income of ¥30 million.