FUJI LATEX CO.,LTD., First Half Ordinary Profit Decreases by 50%

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Tue Nov 5, 2024 3:00 pm JST Earnings

5199 FUJI LATEX CO.,LTD. 【J-GAAP】

Earnings Report

FUJI LATEX CO.,LTD. <5199> [TSE-S] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.2% from the same period last year to 119 million yen, fell short of the previous forecast of 230 million yen.

The progress rate against the 510 million yen full-year plan was 23.3%, also falling below the five-year average of 77.0%.

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 surge by 2.7 times that of the same period last year, reaching 391 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 17 million yen, a 88.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.4% in the same period last year to 2.2%.

Kabutan News

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	4,171	373	369	257	203.3	50.5	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	3,866	247	239	173	137.0	62.6	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	3,639	134	119	58	45.8	23.3	Nov 5, 2024	J-GAAP
YoY	-5.9%	-45.7%	-50.2%	-66.5%	-66.6%

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	3,900	240	230	160	126.2	－	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	3,639	134	119	58	45.8	－	Nov 5, 2024	J-GAAP
Revision Rate	-6.7%	-44.2%	-48.3%	-63.7%	-63.7%

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	3,642	192	143	116	91.7	50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,461	406	391	232	183.0	50	Nov 5, 2024	J-GAAP
YoY	+22.5%	+111.5%	+173.4%	+100.0%	+99.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,085	760	730	517	407.9	50	May 15, 2023	J-GAAP
Mar, 2024	7,508	439	382	289	228.4	50	May 15, 2024	J-GAAP
Mar, 2025 Guidance	8,100	540	510	290	228.8	50	May 15, 2024	J-GAAP
YoY	+7.9%	+23.0%	+33.5%	+0.3%	+0.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,994	148	153	110	87.1	7.4	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	1,855	129	120	84	66.4	7.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,787	63	23	32	25.3	3.5	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,814	94	102	71	56.7	5.2	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	1,825	40	17	-13	-10.3	2.2	Nov 5, 2024	J-GAAP
YoY	-8.5%	-73.0%	-88.9%	－	－