SONOCOM CO.,LTD., First Half Ordinary Profit Decreases by 43%

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Mon Nov 11, 2024 3:30 pm JST Earnings

7902 SONOCOM CO.,LTD. 【J-GAAP】

Earnings Report

SONOCOM CO.,LTD. <7902> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 42.9% from the same period last year to 173 million yen. The progress rate against the 200 million yen full-year plan was 86.5%, also surpassing the five-year average of 61.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 64.9% from the same period last year to 27 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 74 million yen, a 59.1% decrease compared to the same period last year. However, the operating profit margin significantly improved from 6.6% in the same period last year to 10.1%.

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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	1,188	169	238	104	28.6	71.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	1,090	105	303	206	57.6	79.7	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	1,135	106	173	111	31.0	86.5	Nov 11, 2024	J-GAAP
YoY	+4.1%	+1.0%	-42.9%	-46.1%	-46.2%

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	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	1,135	106	173	111	31.0	0	Nov 11, 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	1,044	32	77	34	9.5	12	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,065	44	27	29	8.0	12	Nov 11, 2024	J-GAAP
YoY	+2.0%	+37.5%	-64.9%	-14.7%	-15.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,238	228	335	167	46.1	10	May 12, 2023	J-GAAP
Mar, 2024	2,134	137	380	240	67.2	12	May 13, 2024	J-GAAP
Mar, 2025 Guidance	2,200	150	200	140	38.8	12	May 13, 2024	J-GAAP
YoY	+3.1%	+9.5%	-47.4%	-41.7%	-42.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	472	31	181	122	34.1	6.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	511	21	26	12	3.4	4.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	533	11	51	22	6.2	2.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	568	49	99	64	18.1	8.6	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	567	57	74	47	13.1	10.1	Nov 11, 2024	J-GAAP
YoY	+20.1%	+83.9%	-59.1%	-61.5%	-61.5%