Soken Chemical & Engineering Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 51%, Adds to Record High Profit Forecast

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Tue Nov 5, 2024 3:30 pm JST Earnings

4972 Soken Chemical & Engineering Co.,Ltd. 【J-GAAP】

Earnings Report

Soken Chemical & Engineering Co.,Ltd. <4972> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.0 times that of the same period last year, reaching 3.63 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 51.2%, from the previous forecast of 4.1 billion yen to 6.2 billion yen (compared to 3.9 billion yen in the previous period), increasing the growth rate from 4.9% to 58.6%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 grow by 20.5% from the same period last year, reaching 2.56 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 67.8% from the same period last year, reaching 1.81 billion yen. The operating profit margin drastically improved from 10.0% in the same period last year to 16.2%.

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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	19,454	1,087	1,452	1,080	130.9	66.9	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	19,254	1,670	1,777	1,374	166.2	45.5	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	24,330	3,792	3,631	2,804	338.6	58.6	Nov 5, 2024	J-GAAP
YoY	+26.4%	+127.1%	+104.3%	+104.1%	+103.7%

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	25,000	3,850	3,900	3,000	361.9	0	Aug 5, 2024	J-GAAP
Apr - Sep, 2024 Results	24,330	3,792	3,631	2,804	338.6	0	Nov 5, 2024	J-GAAP
Revision Rate	-2.7%	-1.5%	-6.9%	-6.5%	-6.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	46,000	4,300	4,100	2,700	325.7	95	May 15, 2024	J-GAAP
Mar, 2025 New	47,500	6,500	6,200	4,100	494.6	95	Nov 5, 2024	J-GAAP
Revision Rate	+3.3%	+51.2%	+51.2%	+51.9%	+51.9%

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	22,064	2,158	2,132	1,255	151.7	95	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,170	2,708	2,569	1,296	156.3	95	Nov 5, 2024	J-GAAP
YoY	+5.0%	+25.5%	+20.5%	+3.3%	+3.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,129	2,034	2,169	1,436	173.9	85	May 15, 2023	J-GAAP
Mar, 2024	41,318	3,828	3,909	2,629	317.7	95	May 15, 2024	J-GAAP
Mar, 2025 Guidance	47,500	6,500	6,200	4,100	494.6	95	Nov 5, 2024	J-GAAP
YoY	+15.0%	+69.8%	+58.6%	+56.0%	+55.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,208	1,020	1,082	826	99.9	10.0	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	11,757	1,463	1,349	988	119.4	12.4	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	10,307	695	783	267	32.3	6.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	11,657	1,737	1,815	1,455	175.7	14.9	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	12,673	2,055	1,816	1,349	162.9	16.2	Nov 5, 2024	J-GAAP
YoY	+24.1%	+101.5%	+67.8%	+63.3%	+63.0%