TANAKA CHEMICAL CORPORATION, First Half Ordinary Profit Decreases by 37%, July-September Ordinary Profit Turns to Loss

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Mon Oct 28, 2024 4:00 pm JST Earnings

4080 TANAKA CHEMICAL CORPORATION 【J-GAAP】

Earnings Report

TANAKA CHEMICAL CORPORATION <4080> [TSE-S] announced its financial results after the market closed on October 28th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.3% from the same period last year to 1.06 billion yen. The progress rate against the 1.4 billion yen full-year plan was 75.8%, below the five-year average of 80.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 68.9% from the same period last year to 339 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a loss of 141 million yen (compared to a profit of 545 million yen in the same period last year). The operating profit margin drastically worsened from 3.7% in the same period last year to 0.2%.

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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
Apr - Sep, 2022	30,052	1,822	1,646	1,494	45.9	104.2	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	24,614	1,777	1,691	1,431	44.0	60.8	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	18,793	1,098	1,061	1,077	33.1	75.8	Oct 28, 2024	J-GAAP
YoY	-23.6%	-38.2%	-37.3%	-24.7%	-24.7%

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	－	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	18,793	1,098	1,061	1,077	33.1	0	Oct 28, 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	23,373	994	1,091	1,124	34.6	4	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,207	402	339	323	9.9	4	Oct 28, 2024	J-GAAP
YoY	+33.5%	-59.6%	-68.9%	-71.3%	-71.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	57,672	1,773	1,579	1,290	39.7	0	May 11, 2023	J-GAAP
Mar, 2024	47,987	2,771	2,782	2,555	78.6	4	May 9, 2024	J-GAAP
Mar, 2025 Guidance	50,000	1,500	1,400	1,400	43.0	4	May 9, 2024	J-GAAP
YoY	+4.2%	-45.9%	-49.7%	-45.2%	-45.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,553	429	545	319	9.8	3.7	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	11,311	477	318	297	9.1	4.2	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	12,062	517	773	827	25.4	4.3	May 9, 2024	J-GAAP
Apr - Jun, 2024	9,449	1,081	1,202	1,194	36.7	11.4	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	9,344	17	-141	-117	-3.6	0.2	Oct 28, 2024	J-GAAP
YoY	-19.1%	-96.0%	－	－	－