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Sekisui Plastics Co.,Ltd., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

Thu Oct 31, 2024 3:00 pm JST Earnings

4228 Sekisui Kasei Co.,Ltd. 【J-GAAP】

Earnings Report

Sekisui Plastics Co.,Ltd. <4228> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 378 million yen (compared to a profit of 1.16 billion yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 31.1% from the same period last year to 1.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 895 million yen (compared to a profit of 1.25 billion yen in the same period last year). The operating profit margin worsened from 2.7% in the same period last year to 0.8%.

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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 60,917 -312 73 -345 -7.7 10.4 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 64,996 338 1,168 459 10.2 42.7 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 69,061 78 -378 -371 -8.2 ー Oct 31, 2024 J-GAAP
YoY +6.3% -76.9% － － －

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 69,000 70 -380 -380 -8.4 3 Oct 29, 2024 J-GAAP
Apr - Sep, 2024 Results 69,061 78 -378 -371 -8.2 3 Oct 31, 2024 J-GAAP
Revision Rate +0.1% +11.4% +0.5% +2.4% +2.0%

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 65,269 923 1,565 624 13.8 10 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 64,939 922 1,078 771 17.0 10 Oct 31, 2024 J-GAAP
YoY -0.5% -0.1% -31.1% +23.6% +23.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 124,683 793 704 452 10.0 12 Apr 28, 2023 J-GAAP
Mar, 2024 130,265 1,261 2,733 1,083 23.9 13 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 134,000 1,000 700 400 8.8 13 Oct 29, 2024 J-GAAP
YoY +2.9% -20.7% -74.4% -63.1% -63.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 34,208 926 1,256 833 18.4 2.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 32,596 154 -400 -703 -15.6 0.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 32,673 769 1,965 1,327 29.3 2.4 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 33,792 -220 517 124 2.8 -0.7 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 35,269 298 -895 -495 -10.9 0.8 Oct 31, 2024 J-GAAP
YoY +3.1% -67.8% － － －

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