ONO PHARMACEUTICAL CO., LTD., The Current Fiscal Year Net Income Revised Downward by 36%

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Thu Oct 31, 2024 12:00 pm JST Earnings

4528 ONO PHARMACEUTICAL CO., LTD. 【IFRS】

Earnings Report

ONO PHARMACEUTICAL CO., LTD. <4528> [TSE-P] announced its financial results (based on IFRS) at noon (12:00) on October 31st. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 44.1% from the same period last year to 41.6 billion yen.

In addition, the full-year consolidated net income has downwardly by 36.3%, from the previous forecast of 91 billion yen to 58 billion yen (compared to 127 billion yen in the previous period), leading to an increase in the profit decline rate from 28.9% to 54.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to significant drop by 69.4% from the same period last year to 16.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 16.8 billion yen, a 60.5% decrease compared to the same period last year. The operating profit margin significantly dropped from 40.2% in the same period last year to 20.5%.

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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	216,701	80,270	81,019	62,339	127.7	56.4	Oct 31, 2022	IFRS
Apr - Sep, 2023	258,713	97,036	99,296	74,491	153.3	60.6	Nov 1, 2023	IFRS
Apr - Sep, 2024	240,339	55,881	54,637	41,641	88.7	67.0	Oct 31, 2024	IFRS
YoY	-7.1%	-42.4%	-45.0%	-44.1%	-42.2%

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	－	40	May 9, 2024	IFRS
Apr - Sep, 2024 Results	240,339	55,881	54,637	41,641	88.7	40	Oct 31, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	450,000	122,000	123,000	91,000	193.7	80	May 9, 2024	IFRS
Mar, 2025 New	485,000	82,000	81,500	58,000	123.5	80	Oct 31, 2024	IFRS
Revision Rate	+7.8%	-32.8%	-33.7%	-36.3%	-36.3%

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	243,959	62,899	64,438	53,486	111.4	40	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	244,661	26,119	26,863	16,359	34.8	40	Oct 31, 2024	IFRS
YoY	+0.3%	-58.5%	-58.3%	-69.4%	-68.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	447,187	141,963	143,532	112,723	230.9	70	May 10, 2023	IFRS
Mar, 2024	502,672	159,935	163,734	127,977	266.6	80	May 9, 2024	IFRS
Mar, 2025 Guidance	485,000	82,000	81,500	58,000	123.5	80	Oct 31, 2024	IFRS
YoY	-3.5%	-48.7%	-50.2%	-54.7%	-53.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	138,697	55,688	56,918	42,673	87.8	40.2	Nov 1, 2023	IFRS
Oct - Dec, 2023	131,190	47,590	47,996	36,053	74.7	36.3	Jan 31, 2024	IFRS
Jan - Mar, 2024	112,769	15,309	16,442	17,433	36.3	13.6	May 9, 2024	IFRS
Apr - Jun, 2024	117,675	30,690	33,310	24,794	52.8	26.1	Jul 31, 2024	IFRS
Jul - Sep, 2024	122,664	25,191	21,327	16,847	35.9	20.5	Oct 31, 2024	IFRS
YoY	-11.6%	-54.8%	-62.5%	-60.5%	-59.2%