Gun Ei Chemical Industry Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 9%

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Thu Oct 31, 2024 3:00 pm JST Earnings

4229 Gun Ei Chemical Industry Co., Ltd. 【J-GAAP】

Earnings Report

Gun Ei Chemical Industry Co., Ltd. <4229> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.8% from the same period last year to 1.43 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 8.7%, from the previous forecast of 2.3 billion yen to 2.5 billion yen (compared to 3.16 billion yen in the previous period), and the declining rate is expected to decrease from 27.3% to 20.9%.

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 decrease by 19.7% from the same period last year to 1.06 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 626 million yen, a 30.6% decrease compared to the same period last year. The operating profit margin decreased from 10.0% in the same period last year to 7.2%.

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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	15,810	895	1,053	742	112.1	54.3	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	15,618	1,606	1,837	1,269	191.5	58.1	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	15,182	1,235	1,436	987	149.0	57.4	Oct 31, 2024	J-GAAP
YoY	-2.8%	-23.1%	-21.8%	-22.2%	-22.2%

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	15,000	1,000	1,100	700	105.5	50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	15,182	1,235	1,436	987	149.0	50	Oct 31, 2024	J-GAAP
Revision Rate	+1.2%	+23.5%	+30.5%	+41.0%	+41.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	31,000	2,100	2,300	1,600	241.2	100	May 14, 2024	J-GAAP
Mar, 2025 New	30,600	2,200	2,500	1,700	256.3	100	Oct 31, 2024	J-GAAP
Revision Rate	-1.3%	+4.8%	+8.7%	+6.3%	+6.3%

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	14,692	1,123	1,325	771	116.3	55	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	15,418	965	1,064	713	107.5	50	Oct 31, 2024	J-GAAP
YoY	+4.9%	-14.1%	-19.7%	-7.5%	-7.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,390	1,659	1,939	1,201	181.3	90	May 15, 2023	J-GAAP
Mar, 2024	30,310	2,729	3,162	2,040	307.8	100	May 14, 2024	J-GAAP
Mar, 2025 Guidance	30,600	2,200	2,500	1,700	256.3	100	Oct 31, 2024	J-GAAP
YoY	+1.0%	-19.4%	-20.9%	-16.7%	-16.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,666	767	902	651	98.3	10.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	7,595	799	849	574	86.6	10.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	7,097	324	476	197	29.7	4.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	7,634	692	810	530	80.0	9.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	7,548	543	626	457	69.0	7.2	Oct 31, 2024	J-GAAP
YoY	-1.5%	-29.2%	-30.6%	-29.8%	-29.8%