Kuriyama (3355) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 2024 rose 6.8% year-over-year to ¥58.88 billion, with operating profit up 11.9% and net profit attributable to shareholders up 1.5%.

• Growth was driven by strong North American demand and cost controls, offsetting weakness in Asian industrial materials.

• Strategic initiatives included a global R&D reorganization and the decision to exit the sports apparel business by year-end.

Financial highlights

• Operating profit reached ¥3.85 billion, up 11.9% year-over-year; ordinary profit was ¥4.25 billion, up 9.6%.

• Net profit attributable to shareholders was ¥2.76 billion, up 1.5% year-over-year, after a ¥502 million one-time loss from business withdrawal.

• Total assets increased 3.6% from the previous fiscal year-end to ¥66.84 billion.

• Cash and equivalents rose by ¥1.5 billion to ¥8.94 billion at period-end.

Outlook and guidance

• Full-year guidance remains unchanged from February 2024, reflecting confidence in ongoing business performance.