Fiscal Year 2024 Financial Results Announcement

2025.02.28 Press Release

KINUITO Corporation has announced its consolidated financial results for fiscal year 2024 (April 1, 2024 to March 31, 2025). We achieved record-high performance with sales of 15 billion yen, up 12% year-on-year, and operating profit of 1.6 billion yen, up 15% year-on-year.

Operating Results for the Current Period (April 2024 – March 2025)

Consolidated Statement of Income Highlights

  • Net sales: 15 billion yen (up 12.0% YoY)
  • Operating profit: 1.6 billion yen (up 15.0% YoY)
  • Ordinary profit: 1.55 billion yen (up 13.9% YoY)
  • Net profit: 1.08 billion yen (up 16.1% YoY)
  • Net profit per share: 283.94 yen
  • Operating profit margin: 10.7% (10.3% in previous year, up 0.4 points)

Performance by Segment

  • Private Brand Business: Sales of 5.2 billion yen (+10%), operating profit of 620 million yen (+12%)
    • KINUITO DAILY existing store sales: 106% compared to previous year
    • New store openings: 5 domestic stores, 3 overseas stores (Singapore, Taipei, Seoul)
    • EC sales: 1.8 billion yen (up 22% YoY), EC ratio 35%
  • OEM/ODM Business: Sales of 9.8 billion yen (+13%), operating profit of 980 million yen (+17%)
    • New clients acquired: 15 companies
    • Repeat order rate: 91% (88% in previous year)
    • Multiple large-scale projects received from major apparel companies

Financial Position

Consolidated Balance Sheet (as of March 31, 2025)

  • Total assets: 13.2 billion yen (up 1.5 billion yen from end of previous fiscal year)
  • Net assets: 7.2 billion yen (up 800 million yen from end of previous fiscal year)
  • Equity ratio: 54.5% (52.8% at end of previous fiscal year)
  • Cash and deposits: 3.5 billion yen (up 900 million yen from end of previous fiscal year)
  • Interest-bearing debt: 2.2 billion yen (down 300 million yen from end of previous fiscal year)

Consolidated Cash Flow

  • Cash flow from operating activities: +1.85 billion yen (up 320 million yen YoY)
  • Cash flow from investing activities: -820 million yen (construction of new Bangladesh factory, renovation of existing stores, etc.)
  • Cash flow from financing activities: -130 million yen (loan repayment, dividend payment, etc.)
  • Net increase in cash and cash equivalents: +900 million yen

Dividend Results

Fiscal Year 2024 Dividends

  • Interim dividend: 20 yen per share
  • Year-end dividend: 25 yen per share
  • Annual dividend: 45 yen per share (35 yen in previous fiscal year, +10 yen)
  • Dividend payout ratio: 15.9%
  • Total dividend amount: 170 million yen

Fiscal Year 2025 Performance Forecast

Full-Year Forecast (April 2025 – March 2026)

  • Net sales: 16.8 billion yen (up 12.0% from previous fiscal year)
  • Operating profit: 1.85 billion yen (up 15.6% from previous fiscal year)
  • Ordinary profit: 1.8 billion yen (up 16.1% from previous fiscal year)
  • Net profit: 1.25 billion yen (up 15.7% from previous fiscal year)

Growth Strategy

  • Increased production capacity through full-scale operation of new Bangladesh factory
  • Opening 10 new domestic and overseas private brand stores
  • Continuation of sustainability investment (target: 52% recycled material usage rate)

Dividend Forecast

  • Interim dividend forecast: 25 yen per share
  • Year-end dividend forecast: 30 yen per share
  • Annual dividend forecast: 55 yen per share (up 10 yen from current fiscal year)
  • Dividend payout ratio: 19.6%

Important Notes

Accounting Standards

These financial results have been prepared in accordance with Japanese Generally Accepted Accounting Principles (JGAAP).

Depreciation Method

Depreciation of property, plant and equipment is calculated using the declining-balance method (however, the straight-line method is used for buildings acquired on or after April 1, 1998 and for building fixtures and structures acquired on or after April 1, 2016).

Valuation Standard for Inventories

We primarily adopt the cost method based on the gross average method (balance sheet amounts are calculated using the method of writing down book values based on decreased profitability).

Amortization of Goodwill

Goodwill (acquisition cost of 350 million yen) arising from the business transfer of a domestic sewing factory implemented in fiscal year 2023 is being amortized over 15 years on a straight-line basis. Amortization for the current fiscal year: 23 million yen.

Foreign Exchange Impact

Average exchange rate for the current fiscal year: 146 yen per USD. The yen weakened compared to the previous fiscal year, increasing overseas production costs, but the operating profit margin improved through production efficiency improvements and optimization of selling prices.

Sustainability Investment

580 million yen was invested in environmental equipment during the current fiscal year. This includes the solar power generation system at the new Bangladesh factory, energy-saving equipment upgrades at existing factories, and research and development of recycled materials.

Contingent Liabilities

None applicable.

Subsequent Events

None applicable.

Detailed Materials

For detailed information on these financial results, please refer to the following materials:

Contact Information
KINUITO Corporation, Management Administration Department, IR Division TEL: 075-XXX-XXXX / Email: ir@kinuito.co.jp

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