SANKYO CO.,LTD., First Half Ordinary Profit Decreases by 20%

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Thu Nov 7, 2024 11:30 am JST Earnings

6417 SANKYO CO.,LTD. 【J-GAAP】

Earnings Report

SANKYO CO.,LTD. <6417> [TSE-P] announced its financial results at noon (11:30) on November 7th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 19.9% from the same period last year to 36.7 billion yen. However, The progress rate against the 62 billion yen full-year plan was 59.3%, also surpassing the five-year average of 34.2%.

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 decrease by 7.5% from the same period last year to 25.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 19.1 billion yen, a 27.4% decrease compared to the same period last year. The operating profit margin decreased from 40.2% in the same period last year to 39.2%.

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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	69,963	26,415	26,842	21,306	73.4	45.2	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	116,190	45,460	45,863	32,787	113.1	62.7	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	90,729	36,288	36,740	26,235	119.5	59.3	Nov 7, 2024	J-GAAP
YoY	-21.9%	-20.2%	-19.9%	-20.0%	+5.7%

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	90,000	35,000	35,000	25,000	114.0	40	Sep 19, 2024	J-GAAP
Apr - Sep, 2024 Results	90,729	36,288	36,740	26,235	119.5	40	Nov 7, 2024	J-GAAP
Revision Rate	+0.8%	+3.7%	+5.0%	+4.9%	+4.9%

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	82,909	27,035	27,319	21,004	79.6	50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	89,271	24,712	25,260	15,765	71.8	40	Nov 7, 2024	J-GAAP
YoY	+7.7%	-8.6%	-7.5%	-24.9%	-9.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	157,296	58,532	59,341	46,893	161.5	30	May 11, 2023	J-GAAP
Mar, 2024	199,099	72,495	73,182	53,791	203.8	80	May 9, 2024	J-GAAP
Mar, 2025 Guidance	180,000	61,000	62,000	42,000	191.3	80	Sep 19, 2024	J-GAAP
YoY	-9.6%	-15.9%	-15.3%	-21.9%	-6.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	65,413	26,272	26,381	18,707	64.5	40.2	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	54,398	19,804	20,016	15,457	55.9	36.4	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	28,511	7,231	7,303	5,547	21.0	25.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	42,210	17,273	17,575	12,503	57.0	40.9	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	48,519	19,015	19,165	13,732	62.6	39.2	Nov 7, 2024	J-GAAP
YoY	-25.8%	-27.6%	-27.4%	-26.6%	-3.1%