Kimura Unity Co (9368) Q4 2024 earnings summary

Executive summary

• FY24 revenue rose 4.0% to ¥61,493 million, a third consecutive increase and record; operating and net income also set records, while ordinary income reached a record for the sixth straight year.

• Operating income increased 25.7% to ¥4,109 million and net income attributable to owners increased 28.2% to ¥3,168 million, supported by productivity improvements and higher volumes.

Financial highlights

• Revenue was ¥61,493 million, up ¥2,353 million YoY; operating income was ¥4,109 million, up ¥839 million, and ordinary income was ¥4,897 million, up ¥931 million.

• Net income attributable to owners was ¥3,168 million, up ¥697 million; operating margin rose 1.2 percentage points to 6.7% and net margin increased 1.0 point to 5.2%.

• Revenue growth reflected higher domestic and overseas volumes, new-site openings, pricing revisions and foreign-exchange effects; wage increases partly offset productivity gains.

Outlook and guidance

• FY25 guidance: revenue ¥63,000 million (+2.4%), operating income ¥4,400 million (+7.1%), ordinary income ¥5,200 million (+6.2%), net income ¥3,300 million (+4.1%) and ROE 9.2%.

• FY25 forecasts call for fourth consecutive annual revenue, operating income and net income increases, and a seventh consecutive ordinary income increase; all are expected to reach records.

• FY27 targets: revenue ¥70,000 million, operating income ¥5,300 million, operating margin 7.6%, ordinary income ¥5,800 million, net income ¥3,800 million and ROE 12.0%.

• FY25 segment revenue and operating income targets: logistics ¥44,500 million and ¥4,900 million; mobility ¥15,000 million and ¥900 million; information ¥2,400 million and ¥300 million; staffing ¥2,000 million and ¥40 million.