JAPAN PULP AND PAPER COMPANY LIMITED, First Half Ordinary Profit Decreases by 7%, July-September Ordinary Profit Decreases by 9%

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Fri Nov 8, 2024 1:00 pm JST Earnings

8032 JAPAN PULP AND PAPER COMPANY LIMITED 【J-GAAP】

Earnings Report

JAPAN PULP AND PAPER COMPANY LIMITED <8032> [TSE-P] announced its financial results in the afternoon session on November 8th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.4% from the same period last year to 8.25 billion yen. The progress rate against the 18 billion yen full-year plan was 45.8%, almost the same as the five-year average of 47.8%.

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 grow by 24.3% from the same period last year, reaching 9.75 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.5 billion yen, a 9.4% decrease compared to the same period last year. The operating profit margin worsened from 3.1% in the same period last year to 2.7%.

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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	266,324	9,537	10,273	17,830	130.0	48.4	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	271,375	8,867	8,909	5,324	38.8	53.2	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	278,419	8,185	8,250	5,714	46.4	45.8	Nov 8, 2024	J-GAAP
YoY	+2.6%	-7.7%	-7.4%	+7.3%	+19.5%

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	－	12.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	278,419	8,185	8,250	5,714	46.4	12.50	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	262,855	8,536	7,844	5,033	38.3	6.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	9,815	9,750	4,286	34.8	12.50	Nov 8, 2024	J-GAAP
YoY	－	+15.0%	+24.3%	-14.8%	-9.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	545,279	20,264	21,233	25,392	185.1	12	May 15, 2023	J-GAAP
Mar, 2024	534,230	17,403	16,753	10,357	78.9	13	May 10, 2024	J-GAAP
Mar, 2025 Guidance	ー	18,000	18,000	10,000	81.2	25	May 10, 2024	J-GAAP
YoY	－	+3.4%	+7.4%	-3.4%	+2.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	135,473	4,213	3,862	2,485	18.1	3.1	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	140,182	5,295	4,946	2,946	22.0	3.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	122,673	3,241	2,898	2,087	15.9	2.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	135,167	4,321	4,750	2,916	23.7	3.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	143,252	3,864	3,500	2,798	22.7	2.7	Nov 8, 2024	J-GAAP
YoY	+5.7%	-8.3%	-9.4%	+12.6%	+25.3%