Shin-Etsu Chemical Co., Ltd., First Half Ordinary Profit Increases by 4%, July-September Ordinary Profit Increases by 6%

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Fri Oct 25, 2024 3:00 pm JST Earnings

4063 Shin-Etsu Chemical Co., Ltd. 【J-GAAP】

Earnings Report

Shin-Etsu Chemical Co., Ltd. <4063> [TSE-P] announced its financial results after the market closed on October 25th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 3.6% from the same period last year, reaching 442 billion yen. The progress rate against the 820 billion yen full-year plan was 54.0%, also surpassing the five-year average of 50.5%.

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 October to March period (second half) is expected to grow by 4.8% from the same period last year, reaching 377 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 6.0% from the same period last year, reaching 223 billion yen. The operating profit margin remained almost flat, changing from 32.0% in the same period last year to 32.1%.

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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
Apr - Sep, 2022	1,409,336	536,237	559,026	392,324	191.2	54.8	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	1,195,902	381,919	427,508	301,439	149.7	54.3	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	1,266,460	405,703	442,924	294,117	147.8	54.0	Oct 25, 2024	J-GAAP
YoY	+5.9%	+6.2%	+3.6%	-2.4%	-1.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	53	Jul 26, 2024	J-GAAP
Apr - Sep, 2024 Results	1,266,460	405,703	442,924	294,117	147.8	53	Oct 25, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,219,035	319,119	359,720	218,701	109.1	50	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,233,540	329,297	377,076	238,883	120.7	53	Oct 25, 2024	J-GAAP
YoY	+1.2%	+3.2%	+4.8%	+9.2%	+10.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,808,824	998,202	1,020,211	708,238	347.8	100	Apr 27, 2023	J-GAAP
Mar, 2024	2,414,937	701,038	787,228	520,140	259.4	100	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	2,500,000	735,000	820,000	533,000	269.2	106	Jul 26, 2024	J-GAAP
YoY	+3.5%	+4.8%	+4.2%	+2.5%	+3.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	596,701	191,099	210,393	147,806	73.4	32.0	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	627,501	177,609	188,224	105,090	52.3	28.3	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	591,534	141,510	171,496	113,611	56.7	23.9	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	597,930	191,023	219,810	144,021	72.2	31.9	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	668,530	214,680	223,114	150,096	75.4	32.1	Oct 25, 2024	J-GAAP
YoY	+12.0%	+12.3%	+6.0%	+1.5%	+2.8%