Kaneko Seeds (1376) Q1 2025 earnings summary

Executive summary

• Net sales rose 8.1% year-over-year to ¥14,832 million for the three months ended August 31, 2024.

• Operating profit declined 48.9% year-over-year to ¥131 million, and ordinary profit fell 37.8% to ¥192 million.

• Profit attributable to owners of parent dropped 49.0% year-over-year to ¥106 million; EPS was ¥9.41, down from ¥18.18.

Financial highlights

• Gross profit decreased to ¥2,179 million from ¥2,245 million year-over-year, while SG&A expenses increased to ¥2,048 million.

• Total assets decreased to ¥44,844 million as of August 31, 2024, from ¥48,682 million at May 31, 2024.

• Net assets were ¥24,233 million, with an equity ratio of 54.0%.

• Cash and deposits fell to ¥2,025 million from ¥3,599 million at the previous fiscal year-end.

Outlook and guidance

• Full-year net sales forecasted at ¥63,500 million, up 3.1% year-over-year.

• Operating profit projected to rise 11.6% to ¥1,650 million; ordinary profit to increase 11.4% to ¥1,750 million.

• Profit attributable to owners of parent expected at ¥1,200 million, up 1.9%; EPS forecasted at ¥106.20.

• Annual dividend forecast maintained at ¥33.00 per share.