SEIKAGAKU CORPORATION, July-September (2Q) Ordinary Profit Decreases by 54%

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Fri Nov 8, 2024 4:00 pm JST Earnings

4548 SEIKAGAKU CORPORATION 【J-GAAP】

Earnings Report

SEIKAGAKU CORPORATION <4548> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 2.35 billion yen, a 1.2% increase compared to the same period last year. The progress rate against the 4.55 billion yen full-year plan was 51.7%, it was below the five-year average of 94.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 2.19 billion yen (compared to a loss of 636 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 168 million yen, a 54.3% decrease compared to the same period last year. However, the operating profit margin drastically improved from 2.2% in the same period last year to 8.8%.

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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	17,258	2,610	3,600	3,141	56.3	117.3	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	18,061	1,482	2,327	2,102	38.5	137.6	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	20,210	2,537	2,354	1,931	35.4	51.7	Nov 8, 2024	J-GAAP
YoY	+11.9%	+71.2%	+1.2%	-8.1%	-8.2%

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	－	15	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	20,210	2,537	2,354	1,931	35.4	15	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	18,152	-1,049	-636	84	1.5	13	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,790	1,413	2,196	1,519	27.8	15	Nov 8, 2024	J-GAAP
YoY	+9.0%	－	－	+1,708.3%	+1,707.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	33,456	2,114	3,069	2,236	40.5	26	May 12, 2023	J-GAAP
Mar, 2024	36,213	433	1,691	2,186	40.1	26	May 13, 2024	J-GAAP
Mar, 2025 Guidance	40,000	3,950	4,550	3,450	63.2	30	May 13, 2024	J-GAAP
YoY	+10.5%	+812.2%	+169.1%	+57.8%	+57.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,400	184	368	215	3.9	2.2	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	9,323	846	722	599	11.0	9.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	8,829	-1,895	-1,358	-515	-9.4	-21.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	10,022	1,640	2,186	1,901	34.8	16.4	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	10,188	897	168	30	0.6	8.8	Nov 8, 2024	J-GAAP
YoY	+21.3%	+387.5%	-54.3%	-86.0%	-86.0%