Kuriyama (3355) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of FY2024 rose 9.9% year-over-year to ¥40.33 billion, with operating profit up 22.9% and net profit attributable to parent up 17.5%.

• Growth was driven by strong North American demand and cost controls, while Asia saw mixed results and Europe/South America faced inflationary headwinds.

• Strategic initiatives included R&D reorganization and the launch of an Australian sales subsidiary.

Financial highlights

• Operating profit reached ¥2.78 billion, up from ¥2.26 billion year-over-year.

• Ordinary profit was ¥3.11 billion, a 21.5% increase year-over-year.

• Net profit attributable to parent was ¥2.11 billion, up 17.5% year-over-year.

• Comprehensive income rose to ¥5.71 billion from ¥4.69 billion year-over-year.

• Total assets increased to ¥73.48 billion, up 13.9% from the previous fiscal year-end.

Outlook and guidance

• Full-year guidance remains unchanged: revenue ¥73.0 billion (+1.9%), operating profit ¥4.4 billion (+10.8%), net profit ¥3.3 billion (+13.0%).