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Showa Sangyo Co., Ltd., First Half Ordinary Profit Decreases by 3%

Fri Nov 8, 2024 3:30 pm JST Earnings

2004 Showa Sangyo Co., Ltd. 【J-GAAP】

Earnings Report

Showa Sangyo Co., Ltd. <2004> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.5% from the same period last year to 8.26 billion yen. However, The progress rate against the 13 billion yen full-year plan was 63.6%, also surpassing the five-year average of 51.8%.

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 drop by 40.8% from the same period last year to 4.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 3.07 billion yen, a 32.0% decrease compared to the same period last year. The operating profit margin worsened from 4.7% in the same period last year to 3.3%.

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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 163,410 2,317 3,312 1,947 58.3 50.8 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 175,582 7,352 8,558 5,730 171.3 51.7 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 168,582 6,867 8,262 7,586 232.1 63.6 Nov 8, 2024 J-GAAP
YoY -4.0% -6.6% -3.5% +32.4% +35.5%

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 － 40 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 168,582 6,867 8,262 7,586 232.1 40 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 170,776 5,794 8,000 6,628 198.1 50 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 177,418 5,133 4,738 3,414 105.1 40 Nov 8, 2024 J-GAAP
YoY +3.9% -11.4% -40.8% -48.5% -46.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 335,053 4,184 6,525 7,776 232.6 65 May 11, 2023 J-GAAP
Mar, 2024 346,358 13,146 16,558 12,358 369.4 80 May 13, 2024 J-GAAP
Mar, 2025 Guidance 346,000 12,000 13,000 11,000 338.7 80 May 13, 2024 J-GAAP
YoY -0.1% -8.7% -21.5% -11.0% -8.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 85,783 4,039 4,516 2,947 88.1 4.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 89,973 3,967 5,579 4,632 138.5 4.4 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 80,803 1,827 2,421 1,996 59.7 2.3 May 13, 2024 J-GAAP
Apr - Jun, 2024 85,929 4,118 5,191 5,322 161.7 4.8 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 82,653 2,749 3,071 2,264 69.3 3.3 Nov 8, 2024 J-GAAP
YoY -3.6% -31.9% -32.0% -23.2% -21.4%

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