SUMIDA CORPORATION, January-September (Third Quarter Cumulative) Net Income Decreases by 72%, July-September Net Income Decreases by 30%

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Thu Oct 31, 2024 4:00 pm JST Earnings

6817 SUMIDA CORPORATION 【IFRS】

Earnings Report

SUMIDA CORPORATION <6817> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 71.5% from the same period last year to 1.24 billion yen. The progress rate against the 2.1 billion yen full-year plan was 59.1%, also falling below the five-year average of 74.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to grow by 22.2% from the same period last year, reaching 858 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income dropped to 756 million yen, a 30.3% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 4.9%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	100,957	5,348	4,231	3,033	111.5	64.8	Oct 31, 2022	IFRS
Jan - Sep, 2023	110,933	7,415	5,469	4,362	148.2	93.4	Oct 31, 2023	IFRS
Jan - Sep, 2024	109,536	4,106	1,684	1,242	37.8	64.8	Oct 31, 2024	IFRS
YoY	-1.3%	-44.6%	-69.2%	-71.5%	-74.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	74,457	3,326	1,813	1,786	59.1	28	Feb 7, 2024	IFRS
Jul - Dec, 2024 Guidance	75,634	3,668	1,867	1,614	48.8	27	Jul 31, 2024	IFRS
YoY	+1.6%	+10.3%	+3.0%	-9.6%	-17.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	138,600	8,189	6,534	5,099	187.5	47	Feb 7, 2023	IFRS
Dec, 2023	147,672	8,564	5,856	5,064	167.5	51	Feb 7, 2024	IFRS
Dec, 2024 Guidance	148,700	6,000	2,600	2,100	63.5	53	Jul 31, 2024	IFRS
YoY	+0.7%	-29.9%	-55.6%	-58.5%	-62.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	37,718	2,177	1,426	1,084	36.8	5.8	Oct 31, 2023	IFRS
Oct - Dec, 2023	36,739	1,149	387	702	23.2	3.1	Feb 7, 2024	IFRS
Jan - Mar, 2024	36,313	1,194	464	348	10.7	3.3	Apr 30, 2024	IFRS
Apr - Jun, 2024	36,753	1,138	269	138	4.2	3.1	Jul 31, 2024	IFRS
Jul - Sep, 2024	36,470	1,774	951	756	23.0	4.9	Oct 31, 2024	IFRS
YoY	-3.3%	-18.5%	-33.3%	-30.3%	-37.5%