ISHIHARA CHEMICAL CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 11%, Exceeded record profit forecast

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Thu Oct 31, 2024 2:20 pm JST Earnings

4462 ISHIHARA CHEMICAL CO.,LTD. 【J-GAAP】

Earnings Report

ISHIHARA CHEMICAL CO.,LTD. <4462> [TSE-P] announced its financial results in the afternoon session on October 31st (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.78 billion yen, an increase of 54.9% compared to the same period last year, exceeded the previous forecast of 1.33 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 11.1%, from the previous forecast of 2.79 billion yen to 3.1 billion yen (compared to 2.45 billion yen in the previous period), increasing the growth rate from 13.6% to 26.2%. The company has further increased its previous forecast of record profits for the first time in three years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to nearly flat at 1.31 billion yen, up 0.8% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.3% from the same period last year, reaching 909 million yen. The operating profit margin rose from 13.1% in the same period last year to 16.0%.

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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	10,369	1,259	1,363	944	61.6	60.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	10,035	1,062	1,152	903	60.4	46.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	12,031	1,777	1,785	1,287	87.1	57.6	Oct 31, 2024	J-GAAP
YoY	+19.9%	+67.3%	+54.9%	+42.5%	+44.3%

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	10,900	1,290	1,330	950	65.3	20	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	12,031	1,777	1,785	1,287	87.1	20	Oct 31, 2024	J-GAAP
Revision Rate	+10.4%	+37.8%	+34.2%	+35.5%	+33.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	22,400	2,730	2,790	2,000	137.3	40	May 15, 2024	J-GAAP
Mar, 2025 New	23,100	3,060	3,100	2,230	153.1	40	Oct 31, 2024	J-GAAP
Revision Rate	+3.1%	+12.1%	+11.1%	+11.5%	+11.5%

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	10,670	1,266	1,305	1,003	67.1	18	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,069	1,283	1,315	943	64.7	20	Oct 31, 2024	J-GAAP
YoY	+3.7%	+1.3%	+0.8%	-6.0%	-3.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,345	2,139	2,258	1,684	110.3	34	May 15, 2023	J-GAAP
Mar, 2024	20,705	2,328	2,457	1,906	127.6	36	May 15, 2024	J-GAAP
Mar, 2025 Guidance	23,100	3,060	3,100	2,230	153.1	40	Oct 31, 2024	J-GAAP
YoY	+11.6%	+31.4%	+26.2%	+17.0%	+20.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,269	688	720	556	37.2	13.1	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	5,384	632	640	485	32.4	11.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	5,286	634	665	518	34.7	12.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	5,980	808	876	635	42.7	13.5	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	6,051	969	909	652	44.1	16.0	Oct 31, 2024	J-GAAP
YoY	+14.8%	+40.8%	+26.3%	+17.3%	+18.7%