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

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Thu Oct 31, 2024 3:00 pm JST Earnings

4228 Sekisui Plastics 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%	－	－	－