SANYO SHOKAI LTD., First Half Ordinary Profit Decreases by 14%

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Fri Oct 4, 2024 11:00 am JST Earnings

8011 SANYO SHOKAI LTD. 【J-GAAP】

Earnings Report

SANYO SHOKAI LTD. <8011> [TSE-P] announced its financial results in the morning on October 4th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 13.9% from the same period last year to 678 million yen. The progress rate against the 3.4 billion yen full-year plan was 19.9%, also falling below the same period of the previous year of 24.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 13.6% from the same period last year, reaching 2.72 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss improved to a deficit of loss of 52 million yen (compared to a loss of 238 million yen in the same period last year). The operating profit/loss margin improved from -2.6% in the same period last year to -1.2%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	25,464	-317	-141	-246	-20.3	ー	Oct 6, 2022	J-GAAP
Mar - Aug, 2023	28,155	718	787	744	63.8	24.7	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	27,902	599	678	457	39.2	19.9	Oct 4, 2024	J-GAAP
YoY	-0.9%	-16.6%	-13.9%	-38.6%	-38.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	28,300	500	550	450	38.5	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	27,902	599	678	457	39.2	0	Oct 4, 2024	J-GAAP
Revision Rate	-1.4%	+19.8%	+23.3%	+1.6%	+1.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	33,198	2,329	2,397	2,043	175.2	88	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	34,598	2,701	2,722	2,643	238.1	125	Oct 4, 2024	J-GAAP
YoY	+4.2%	+16.0%	+13.6%	+29.4%	+35.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	58,273	2,235	2,437	2,155	178.7	55	Apr 14, 2023	J-GAAP
Feb, 2024	61,353	3,047	3,184	2,787	239.0	88	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	62,500	3,300	3,400	3,100	279.3	125	Apr 12, 2024	J-GAAP
YoY	+1.9%	+8.3%	+6.8%	+11.2%	+16.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	12,186	-317	-238	-152	-13.0	-2.6	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	16,448	1,009	986	952	81.6	6.1	Dec 27, 2023	J-GAAP
Dec - Feb, 2023	16,750	1,320	1,411	1,091	93.5	7.9	Apr 12, 2024	J-GAAP
Mar - May, 2024	15,378	747	730	590	50.6	4.9	Jun 28, 2024	J-GAAP
Jun - Aug, 2024	12,524	-148	-52	-133	-11.4	-1.2	Oct 4, 2024	J-GAAP
YoY	+2.8%	+53.3%	+78.2%	+12.5%	+12.5%