ASAHI KOGYOSHA CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 27% Increase, Adds to Record High Profit, Dividend Revised Upward by 40 yen

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Tue Nov 12, 2024 4:20 pm JST Earnings

1975 ASAHI KOGYOSHA CO.,LTD. 【J-GAAP】

Earnings Report

ASAHI KOGYOSHA CO.,LTD. <1975> [TSE-P] announced its financial results after the market closed on November 12th (16:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.6% from the same period last year, reaching 3 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 63.2%, from the previous forecast of 3.8 billion yen to 6.2 billion yen (compared to 4.89 billion yen in the previous period), record profits reach two consecutive terms, turning to a 26.6% increase in the consolidated ordinary profit outlook.

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 27.6% from the same period last year, reaching 3.19 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 60 yen to 100 yen (compared to 120 yen before the 1-to-2 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.6% from the same period last year, reaching 1.94 billion yen. The operating profit margin improved from 7.2% in the same period last year to 8.7%.

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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	31,388	55	206	106	4.2	6.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	41,997	2,211	2,395	1,615	62.8	48.9	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	40,502	2,797	3,009	2,362	91.8	48.5	Nov 12, 2024	J-GAAP
YoY	-3.6%	+26.5%	+25.6%	+46.3%	+46.1%

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	－	25	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	40,502	2,797	3,009	2,362	91.8	25	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	92,500	3,600	3,800	3,100	120.4	60	May 15, 2024	J-GAAP
Mar, 2025 New	92,500	6,000	6,200	5,000	194.1	100	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	+66.7%	+63.2%	+61.3%	+61.3%

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	49,679	2,357	2,501	2,097	81.6	40	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	51,998	3,203	3,191	2,638	102.4	75	Nov 12, 2024	J-GAAP
YoY	+4.7%	+35.9%	+27.6%	+25.8%	+25.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	80,171	2,697	3,127	2,480	96.6	40	May 12, 2023	J-GAAP
Mar, 2024	91,676	4,568	4,896	3,712	144.4	60	May 15, 2024	J-GAAP
Mar, 2025 Guidance	92,500	6,000	6,200	5,000	194.1	100	Nov 12, 2024	J-GAAP
YoY	+0.9%	+31.3%	+26.6%	+34.7%	+34.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	22,782	1,640	1,678	1,147	44.6	7.2	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	23,884	667	805	528	20.5	2.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	25,795	1,690	1,696	1,569	61.0	6.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	18,471	890	1,069	708	27.5	4.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	22,031	1,907	1,940	1,654	64.3	8.7	Nov 12, 2024	J-GAAP
YoY	-3.3%	+16.3%	+15.6%	+44.2%	+44.0%