SANWAYUKA INDUSTRY CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 17%

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Fri Nov 8, 2024 3:00 pm JST Earnings

4125 SANWAYUKA INDUSTRY CORPORATION 【J-GAAP】

Earnings Report

SANWAYUKA INDUSTRY CORPORATION <4125> [TSE-S] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 52.0% from the same period last year to 378 million yen, fell short of the previous forecast of 560 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 17.4%, from the previous forecast of 1.33 billion yen to 1.09 billion yen (compared to 1.36 billion yen in the previous period), leading to an increase in the profit decline rate from 2.2% to 19.3%.

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 25.7% from the same period last year, reaching 720 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 114 million yen, a 68.7% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.1% in the same period last year to 3.1%.

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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	9,004	993	1,015	651	151.0	52.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	8,011	769	787	527	122.2	57.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	7,773	337	378	228	53.0	34.4	Nov 8, 2024	J-GAAP
YoY	-3.0%	-56.2%	-52.0%	-56.7%	-56.6%

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	8,000	550	560	400	92.6	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	7,773	337	378	228	53.0	0	Nov 8, 2024	J-GAAP
Revision Rate	-2.8%	-38.7%	-32.5%	-43.0%	-42.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	17,000	1,300	1,330	950	220.0	40	May 14, 2024	J-GAAP
Mar, 2025 New	16,473	1,037	1,098	738	170.9	40	Nov 8, 2024	J-GAAP
Revision Rate	-3.1%	-20.2%	-17.4%	-22.3%	-22.3%

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	7,622	510	573	514	119.1	40	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,700	700	720	510	118.1	40	Nov 8, 2024	J-GAAP
YoY	+14.1%	+37.3%	+25.7%	-0.8%	-0.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,367	1,885	1,936	1,325	306.9	36	May 12, 2023	J-GAAP
Mar, 2024	15,633	1,279	1,360	1,041	241.3	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	16,473	1,037	1,098	738	170.9	40	Nov 8, 2024	J-GAAP
YoY	+5.4%	-18.9%	-19.3%	-29.1%	-29.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,920	355	364	261	60.5	9.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,938	302	322	225	52.2	7.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,684	208	251	289	67.0	5.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,905	217	264	151	35.2	5.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,868	120	114	77	17.9	3.1	Nov 8, 2024	J-GAAP
YoY	-1.3%	-66.2%	-68.7%	-70.5%	-70.4%