Kuriyama (3355) Q4 2024 earnings summary

Executive summary

• Revenue rose 8.7% year-over-year to ¥77,895 million, with operating profit up 14.3% and ordinary profit up 16.2%.

• Net income attributable to parent decreased 6.5% year-over-year to ¥3,545 million due to a special loss from business withdrawal, despite higher profits at the operating level.

• Strategic initiatives included the establishment of Kuriyama Australia Pty Ltd. and the reorganization of R&D functions.

• Exited the sports apparel business at the end of December 2024 to focus on higher-growth, higher-profitability segments.

Financial highlights

• Operating profit: ¥4,539 million (+14.3% YoY); ordinary profit: ¥5,250 million (+16.2% YoY).

• Net income: ¥3,545 million (-6.5% YoY), impacted by a ¥376 million special loss from business withdrawal.

• ROE was 8.4%.

• Total assets increased 9.7% to ¥70,781 million; net assets rose 13.8% to ¥45,122 million.

• Cash and equivalents at year-end: ¥9,387 million, up ¥1,949 million from the previous year.

Outlook and guidance

• FY2025 forecast: revenue ¥90,000 million, operating profit ¥4,000 million, ordinary profit ¥4,800 million, net income ¥3,600 million, ROE 7.7%.

• Dividend forecast for FY2025: ¥56 per share, up ¥1 from FY2024.

• Mid-term management plan to be announced March 12, 2025.