Komehyo Holdings Co.,Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023
February 13, 2023 at 01:00 am
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Komehyo Holdings Co.,Ltd. revised consolidated earnings guidance for the fiscal year ending March 31, 2023. For the fiscal year ending March 31, 2023, the company now expects to report consolidated net sales of JPY 85,000 million, consolidated operating profit of JPY 4,780 million, profit attributable to owners of parent of JPY 3,280 million, and consolidated earnings per share of JPY 299.37, compared with previous guidance of consolidated net sales of JPY 82,500 million, consolidated operating profit of JPY 4,350 million, profit attributable to owners of parent of JPY 2,830 million, and consolidated earnings per share of JPY 258.30. The reason for revision is net sales were higher than the previous target in the third quarter, as in the first half.
Purchases from individuals were buoyant and so were corporate sales through actions for companies and others in addition to retail sales with e-commerce serving as a hub. Operating income also exceeded the previous target, as the growth of sales resulted in increased income, the company worked intensively to control prices matched to the markets for items and the company placed advertisements with a focus on efficiency to reduce expenses. Ordinary income was higher than the previous target, due chiefly to guarantee deposits received in connection with the relocation of the Ginza Main Store of K-Brand Off Co.
Ltd. In the fourth quarter, The company anticipates no intense need to sell jewels or precious metals arising chiefly from an increase in gold market prices like there was in the same quarter of the previous fiscal year. With an eye towards the coming fiscal years, the company will not only revise inventories but also advance recruitment for the opening of more stores and growth and advertising to increase the number of customers. For these reasons, the company has decided to revise the company's full-year consolidated financial forecasts.
Komehyo Holdings Co Ltd, formerly Komehyo Co Ltd, is a Japan-based company mainly engaged in the brand fashion business, the tire and wheel business and other business. The Company operates in two business segments. The Brand Fashion segment is involved in the purchase, sale, brokerage and auction management of new and used jewelry products, precious metals, watches, bags, clothing, kimono, cameras, musical instruments and others, as well as the sale of apparels, sneakers and shoe care products. The Tire and Wheel segment is involved in the planning, research, development, manufacture and sale of tires and wheels for passenger cars, automobile supplies and parts. The Company is also engaged in the leasing of real estate properties.