KVK Corporation (6484) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, was ¥21,979 million, down 1.7% year-over-year, reflecting a challenging housing market and lower housing starts overall.

• Operating income rose 3.7% year-over-year to ¥1,835 million, with net income attributable to shareholders up 20.5% to ¥1,444 million, driven by improved profitability and gains from investment securities sales.

• The company continued to implement its mid-term plan, launching new product designs and expanding resin component production to mitigate raw material price risks.

Financial highlights

• Gross profit for the period was ¥5,497 million, with operating margin improvement despite lower sales.

• Ordinary income increased 11.8% year-over-year to ¥2,112 million, supported by non-operating gains.

• Comprehensive income declined 10.6% year-over-year to ¥1,355 million due to negative securities valuation and retirement benefit adjustments.

• EPS for the period was ¥180.83, up from ¥150.72 in the prior year.

Outlook and guidance

• Full-year revenue is forecast at ¥30,500 million, a 2.3% decrease from the previous year, with net income projected at ¥1,900 million, down 4.1%.

• No changes to the previously announced earnings forecast, despite ongoing uncertainty in raw material prices and currency fluctuations.

• Annual dividend forecast is ¥70 per share, up from ¥60 last year.