Sangetsu Corporation, First Half Ordinary Profit Decreases by 27%, July-September Ordinary Profit Decreases by 21%

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Fri Nov 8, 2024 2:00 pm JST Earnings

8130 Sangetsu Corporation 【J-GAAP】

Earnings Report

Sangetsu Corporation <8130> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 27.2% from the same period last year to 7.6 billion yen. The progress rate against the 16.5 billion yen full-year plan was 46.1%, almost the same as the five-year average of 44.3%.

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 3.7% from the same period last year to 8.89 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.84 billion yen, a 21.0% decrease compared to the same period last year. The operating profit margin decreased from 10.6% in the same period last year to 7.9%.

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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	81,726	8,998	9,267	6,238	106.3	44.8	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	90,612	10,259	10,456	7,121	121.3	53.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	93,878	7,379	7,607	4,995	85.0	46.1	Nov 8, 2024	J-GAAP
YoY	+3.6%	-28.1%	-27.2%	-29.9%	-29.9%

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	93,500	7,600	7,800	5,200	88.5	75	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	93,878	7,379	7,607	4,995	85.0	75	Nov 8, 2024	J-GAAP
Revision Rate	+0.4%	-2.9%	-2.5%	-3.9%	-3.9%

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	99,247	8,844	9,239	7,170	122.1	75	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	102,122	8,621	8,893	6,005	102.2	75	Nov 8, 2024	J-GAAP
YoY	+2.9%	-2.5%	-3.7%	-16.2%	-16.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	176,022	20,280	20,690	14,005	238.7	105	May 12, 2023	J-GAAP
Mar, 2024	189,859	19,103	19,695	14,291	243.4	140	May 10, 2024	J-GAAP
Mar, 2025 Guidance	196,000	16,000	16,500	11,000	187.2	150	May 10, 2024	J-GAAP
YoY	+3.2%	-16.2%	-16.2%	-23.0%	-23.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	45,363	4,799	4,870	3,323	56.6	10.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	49,394	4,711	4,942	3,766	64.2	9.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	49,853	4,133	4,297	3,404	58.0	8.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	46,717	3,665	3,760	2,439	41.6	7.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	47,161	3,714	3,847	2,556	43.5	7.9	Nov 8, 2024	J-GAAP
YoY	+4.0%	-22.6%	-21.0%	-23.1%	-23.1%