Sojitz Corporation, First Half Net Income Decreases by 8%, July-September Net Income Decreases by 18%

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Wed Oct 30, 2024 12:30 pm JST Earnings

2768 Sojitz Corporation 【IFRS】

Earnings Report

Sojitz Corporation <2768> [TSE-P] announced its financial results (based on IFRS) at noon (12:30) on October 30th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.6% from the same period last year to 44.3 billion yen. The progress rate against the 110 billion yen full-year plan was 40.3%, also falling below the five-year average of 49.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 24.3% from the same period last year, reaching 65.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 21.2 billion yen, a 17.6% decrease compared to the same period last year.

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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	1,273,322	ー	106,547	78,876	341.7	68.7	Nov 1, 2022	IFRS
Apr - Sep, 2023	1,187,268	ー	64,509	47,934	212.1	51.4	Oct 31, 2023	IFRS
Apr - Sep, 2024	1,235,225	ー	59,022	44,311	203.9	ー	Oct 30, 2024	IFRS
YoY	+4.0%	－	-8.5%	-7.6%	-3.8%

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	－	75	May 1, 2024	IFRS
Apr - Sep, 2024 Results	1,235,225	ー	59,022	44,311	203.9	75	Oct 30, 2024	IFRS
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	1,227,381	ー	60,989	52,831	236.4	70	May 1, 2024	IFRS
Oct - Mar, 2024 Guidance	ー	ー	ー	65,689	306.7	75	Oct 30, 2024	IFRS
YoY	－	－	－	+24.3%	+29.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,479,840	ー	155,036	111,247	481.9	130	May 2, 2023	IFRS
Mar, 2024	2,414,649	ー	125,498	100,765	451.0	135	May 1, 2024	IFRS
Mar, 2025 Guidance	ー	ー	ー	110,000	513.6	150	May 1, 2024	IFRS
YoY	－	－	－	+9.2%	+13.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	631,258	ー	34,641	25,794	114.1	0.0	Oct 31, 2023	IFRS
Oct - Dec, 2023	600,847	ー	35,185	27,281	121.6	0.0	Feb 2, 2024	IFRS
Jan - Mar, 2024	626,534	ー	25,804	25,550	114.4	0.0	May 1, 2024	IFRS
Apr - Jun, 2024	623,802	ー	31,822	23,044	106.1	0.0	Jul 30, 2024	IFRS
Jul - Sep, 2024	611,423	ー	27,200	21,267	97.9	0.0	Oct 30, 2024	IFRS
YoY	-3.1%	－	-21.5%	-17.6%	-14.2%