Sumitomo Riko Company Limited, The Current Fiscal Year Net Income Revised Upward to an Unexpected 19% Increase, Adds to Record High Profit, Dividend Revised Upward by 15 yen

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Thu Oct 31, 2024 12:00 pm JST Earnings

5191 Sumitomo Riko Company Limited 【IFRS】

Earnings Report

Sumitomo Riko Company Limited <5191> [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) expanded to 10 billion yen, an increase of 72.1% compared to the same period last year, exceeded the previous forecast of 7.9 billion yen.

In addition, the full-year consolidated net income has been revised upward by 25.4%, from the previous forecast of 17.7 billion yen to 22.2 billion yen (compared to 18.6 billion yen in the previous period), record profits reach two consecutive terms, turning to a 19.1% increase in the consolidated net income outlook.

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 decrease by 5.0% from the same period last year to 12.1 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 38 yen to 53 yen (compared to 36 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 60.3% from the same period last year, reaching 4.1 billion yen. The operating profit margin improved from 3.7% in the same period last year to 5.5%.

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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	255,609	-1,621	-1,572	-4,794	-46.2	ー	Oct 31, 2022	IFRS
Apr - Sep, 2023	297,878	12,188	10,595	5,827	56.1	34.4	Oct 31, 2023	IFRS
Apr - Sep, 2024	309,169	17,378	15,720	10,030	96.6	47.9	Oct 31, 2024	IFRS
YoY	+3.8%	+42.6%	+48.4%	+72.1%	+72.1%

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	309,000	14,500	12,900	7,900	76.1	18	Jul 31, 2024	IFRS
Apr - Sep, 2024 Results	309,169	17,378	15,720	10,030	96.6	24	Oct 31, 2024	IFRS
Revision Rate	+0.1%	+19.8%	+21.9%	+27.0%	+27.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	625,000	31,500	28,000	17,700	170.5	38	Jul 31, 2024	IFRS
Mar, 2025 New	615,000	36,300	32,800	22,200	213.8	53	Oct 31, 2024	IFRS
Revision Rate	-1.6%	+15.2%	+17.1%	+25.4%	+25.4%

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	317,571	21,789	20,210	12,814	123.4	28	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	305,831	18,922	17,080	12,170	117.2	29	Oct 31, 2024	IFRS
YoY	-3.7%	-13.2%	-15.5%	-5.0%	-5.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	541,010	16,560	14,908	6,683	64.4	15	May 10, 2023	IFRS
Mar, 2024	615,449	33,977	30,805	18,641	179.5	36	May 9, 2024	IFRS
Mar, 2025 Guidance	615,000	36,300	32,800	22,200	213.8	53	Oct 31, 2024	IFRS
YoY	-0.1%	+6.8%	+6.5%	+19.1%	+19.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	152,241	5,602	4,838	2,561	24.7	3.7	Oct 31, 2023	IFRS
Oct - Dec, 2023	159,243	12,268	11,239	7,562	72.8	7.7	Jan 31, 2024	IFRS
Jan - Mar, 2024	158,328	9,521	8,971	5,252	50.6	6.0	May 9, 2024	IFRS
Apr - Jun, 2024	157,615	8,998	8,563	5,924	57.1	5.7	Jul 31, 2024	IFRS
Jul - Sep, 2024	151,554	8,380	7,157	4,106	39.6	5.5	Oct 31, 2024	IFRS
YoY	-0.5%	+49.6%	+47.9%	+60.3%	+60.3%