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Ajinomoto Co., Inc., First Half Net Income Increases by 8%, July-September Net Income Increases by 37%

Thu Nov 7, 2024 3:30 pm JST Earnings

2802 Ajinomoto Co., Inc. 【IFRS】

Earnings Report

Ajinomoto Co., Inc. <2802> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 7th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 8.1% from the same period last year, reaching 50.2 billion yen. The progress rate against the 95 billion yen full-year plan was 52.9%, almost the same as the five-year average of 54.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 10.1% from the same period last year, reaching 44.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 36.5% from the same period last year, reaching 26.2 billion yen. The operating profit margin improved from 9.2% in the same period last year to 10.6%.

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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 659,853 73,605 68,169 47,025 43.8 48.7 Nov 7, 2022 IFRS
Apr - Sep, 2023 688,004 72,658 70,125 46,457 44.4 49.4 Nov 6, 2023 IFRS
Apr - Sep, 2024 744,250 80,870 78,179 50,227 49.5 ー Nov 7, 2024 IFRS
YoY +8.2% +11.3% +11.5% +8.1% +11.4%

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 ー ー ー ー － 20 May 9, 2024 IFRS
Apr - Sep, 2024 Results 744,250 80,870 78,179 50,227 49.5 20 Nov 7, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 1,527,000 ー ー 95,000 95.5 40 May 9, 2024 IFRS
Mar, 2025 New 1,532,500 ー ー 95,000 95.5 40 Nov 7, 2024 IFRS
Revision Rate +0.4% － － 0.0% 0.0%

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 751,227 74,024 71,918 40,664 39.1 18.50 May 9, 2024 IFRS
Oct - Mar, 2024 Guidance 788,250 ー ー 44,773 45.0 20 Nov 7, 2024 IFRS
YoY +4.9% － － +10.1% +15.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,359,115 148,928 140,033 94,065 88.0 34 May 11, 2023 IFRS
Mar, 2024 1,439,231 146,682 142,043 87,121 83.7 37 May 9, 2024 IFRS
Mar, 2025 Guidance 1,532,500 ー ー 95,000 95.5 40 Nov 7, 2024 IFRS
YoY +6.5% － － +9.0% +14.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 348,483 32,065 30,529 19,237 18.4 9.2 Nov 6, 2023 IFRS
Oct - Dec, 2023 379,641 44,732 44,319 31,145 29.8 11.8 Feb 6, 2024 IFRS
Jan - Mar, 2024 371,586 29,292 27,599 9,519 9.2 7.9 May 9, 2024 IFRS
Apr - Jun, 2024 365,508 40,805 39,825 23,967 23.5 11.2 Aug 5, 2024 IFRS
Jul - Sep, 2024 378,742 40,065 38,354 26,260 25.9 10.6 Nov 7, 2024 IFRS
YoY +8.7% +24.9% +25.6% +36.5% +40.7%

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