ASAHI RUBBER INC., First Half Net Income Turns to Loss, July-September Net Income Turns to Loss

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Fri Nov 8, 2024 3:30 pm JST Earnings

5162 ASAHI RUBBER INC. 【J-GAAP】

Earnings Report

ASAHI RUBBER INC. <5162> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 86 million yen (compared to a profit of 55 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 23.1% from the same period last year, reaching 96 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 90 million yen (compared to a profit of 49 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.8% in the same period last year to -3.2%.

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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	3,578	135	143	112	24.9	73.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	3,359	11	35	55	12.2	17.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	3,694	-48	-57	-86	-18.9	ー	Nov 8, 2024	J-GAAP
YoY	+10.0%	－	－	－	－

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	3,694	-48	-57	-86	-18.9	10	Oct 30, 2024	J-GAAP
Apr - Sep, 2024 Results	3,694	-48	-57	-86	-18.9	10	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-0.2%

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	3,821	145	160	78	17.2	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,669	84	85	96	21.0	10	Oct 30, 2024	J-GAAP
YoY	-4.0%	-42.1%	-46.9%	+23.1%	+22.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,205	185	194	203	44.8	20	May 11, 2023	J-GAAP
Mar, 2024	7,180	156	195	133	29.4	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	7,363	36	28	10	2.2	20	Oct 30, 2024	J-GAAP
YoY	+2.5%	-76.9%	-85.6%	-92.5%	-92.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,694	13	24	49	10.8	0.8	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	1,891	103	99	72	15.9	5.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,930	42	61	6	1.3	2.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,838	12	14	4	1.0	0.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	1,856	-60	-71	-90	-19.8	-3.2	Nov 8, 2024	J-GAAP
YoY	+9.6%	－	－	－	－