ASAHI KASEI CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Fri Nov 1, 2024 12:30 pm JST Earnings

3407 ASAHI KASEI CORPORATION 【J-GAAP】

Earnings Report

ASAHI KASEI CORPORATION <3407> [TSE-P] announced its financial results at noon (12:30) on November 1st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 103 billion yen, an increase of 99.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.0%, from the previous forecast of 181 billion yen to 190 billion yen (compared to 90.1 billion yen in the previous period), increasing the growth rate from 2.0 times to 2.1 times.

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 surge by 2.3 times that of the same period last year, reaching 86.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 63.0% from the same period last year, reaching 49.9 billion yen. The operating profit margin improved from 4.9% in the same period last year to 7.8%.

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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	1,351,231	85,808	86,394	51,720	37.3	71.5	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	1,345,924	55,887	52,049	30,841	22.3	57.8	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	1,490,334	108,915	103,707	60,248	43.5	54.6	Nov 1, 2024	J-GAAP
YoY	+10.7%	+94.9%	+99.2%	+95.4%	+95.3%

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	1,501,000	95,000	93,500	53,000	38.2	18	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	1,490,334	108,915	103,707	60,248	43.5	18	Nov 1, 2024	J-GAAP
Revision Rate	-0.7%	+14.6%	+10.9%	+13.7%	+13.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,912,000	180,000	181,000	100,000	72.1	36	May 9, 2024	J-GAAP
Mar, 2025 New	3,071,000	195,000	190,000	110,000	79.4	36	Nov 1, 2024	J-GAAP
Revision Rate	+5.5%	+8.3%	+5.0%	+10.0%	+10.0%

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	1,438,954	84,859	38,069	12,965	9.4	18	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,580,666	86,085	86,293	49,752	35.9	18	Nov 1, 2024	J-GAAP
YoY	+9.8%	+1.4%	+126.7%	+283.7%	+283.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,726,485	127,716	120,900	-91,948	-66.3	36	May 10, 2023	J-GAAP
Mar, 2024	2,784,878	140,746	90,118	43,806	31.6	36	May 9, 2024	J-GAAP
Mar, 2025 Guidance	3,071,000	195,000	190,000	110,000	79.4	36	Nov 1, 2024	J-GAAP
YoY	+10.3%	+38.5%	+110.8%	+151.1%	+151.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	695,185	34,096	30,671	21,250	15.3	4.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	718,222	42,612	38,453	27,724	20.0	5.9	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	720,732	42,247	-384	-14,759	-10.7	5.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	735,934	49,873	53,718	34,092	24.6	6.8	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	754,400	59,042	49,989	26,156	18.9	7.8	Nov 1, 2024	J-GAAP
YoY	+8.5%	+73.2%	+63.0%	+23.1%	+23.1%