Sekisui Chemical Co.,Ltd., The Current Fiscal Year Operating Profit Revised Upward by 3%, Exceeded record profit forecast

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Thu Oct 31, 2024 3:00 pm JST Earnings

4204 Sekisui Chemical Co.,Ltd. 【J-GAAP】

Earnings Report

Sekisui Chemical Co.,Ltd. <4204> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated operating profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 18.4% from the same period last year, reaching 48.7 billion yen.

In addition, the full-year consolidated operating profit has been revised upward by 2.9%, from the previous forecast of 102 billion yen to 105 billion yen (compared to 94.3 billion yen in the previous period), increasing the growth rate from 8.1% to 11.2%. The company has further increased its previous forecast of record profits for the first time in seven years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated operating profit for the October to March period (second half) is expected to grow by 5.7% from the same period last year, reaching 56.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated operating profit grew by 10.3% from the same period last year, reaching 28.5 billion yen. The operating profit margin improved from 7.9% in the same period last year to 8.6%.

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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	607,765	40,344	53,900	39,101	89.2	51.7	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	611,294	41,155	51,536	44,450	104.2	48.7	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	629,054	48,723	48,142	42,925	102.5	47.0	Oct 31, 2024	J-GAAP
YoY	+2.9%	+18.4%	-6.6%	-3.4%	-1.6%

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	635,700	44,800	46,300	39,500	94.6	37	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	629,054	48,723	48,142	42,925	102.5	37	Oct 31, 2024	J-GAAP
Revision Rate	-1.0%	+8.8%	+4.0%	+8.7%	+8.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,326,700	102,000	102,500	78,000	186.8	75	Apr 26, 2024	J-GAAP
Mar, 2025 New	1,308,700	105,000	102,500	78,000	186.8	75	Oct 31, 2024	J-GAAP
Revision Rate	-1.4%	+2.9%	0.0%	0.0%	0.0%

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	645,244	53,244	54,385	33,480	78.8	39	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	679,646	56,277	54,358	35,075	84.0	38	Oct 31, 2024	J-GAAP
YoY	+5.3%	+5.7%	0.0%	+4.8%	+6.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,242,521	91,666	104,241	69,263	159.2	59	Apr 28, 2023	J-GAAP
Mar, 2024	1,256,538	94,399	105,921	77,930	183.5	74	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	1,308,700	105,000	102,500	78,000	186.8	75	Oct 31, 2024	J-GAAP
YoY	+4.2%	+11.2%	-3.2%	+0.1%	+1.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	325,901	25,870	29,356	20,321	47.6	7.9	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	312,637	24,679	21,278	13,982	32.8	7.9	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	332,607	28,565	33,107	19,498	45.9	8.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	298,828	20,198	26,545	23,712	56.5	6.8	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	330,226	28,525	21,597	19,213	45.9	8.6	Oct 31, 2024	J-GAAP
YoY	+1.3%	+10.3%	-26.4%	-5.5%	-3.7%