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

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 1,273,322 106,547 78,876 341.7 68.7 Nov 1, 2022 IFRS
Apr - Sep, 2023 1,187,268 64,509 47,934 212.1 51.4 Oct 31, 2023 IFRS
Apr - Sep, 2024 1,235,225 59,022 44,311 203.9 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 75 May 1, 2024 IFRS
Apr - Sep, 2024 Results 1,235,225 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 60,989 52,831 236.4 70 May 1, 2024 IFRS
Oct - Mar, 2024 Guidance 65,689 311.6 75 Oct 30, 2024 IFRS
YoY +24.3% +31.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,479,840 155,036 111,247 481.9 130 May 2, 2023 IFRS
Mar, 2024 2,414,649 125,498 100,765 451.0 135 May 1, 2024 IFRS
Mar, 2025 Guidance 110,000 521.7 150 May 1, 2024 IFRS
YoY +9.2% +15.7%

Quarterly Results

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

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