New Japan Chemical Co., Ltd., First Half Ordinary Profit Increases by 3.9 times, July-September Ordinary Profit Turns to Profit

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Wed Nov 13, 2024 3:40 pm JST Earnings

4406 New Japan Chemical Co., Ltd. 【J-GAAP】

Earnings Report

New Japan Chemical Co., Ltd. <4406> [TSE-S] announced its financial results after the market closed on November 13th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.9 times that of the same period last year, reaching 375 million yen. The progress rate against the 800 million yen full-year plan was 46.9%, exceeding the five-year average of 39.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 38.0% from the same period last year to 425 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 94 million yen (compared to a loss of 88 million yen in the same period last year). The operating profit/loss margin improved from -1.6% in the same period last year to 1.1%.

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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	16,861	-210	61	-47	-1.3	58.1	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	15,660	-122	95	-114	-3.1	12.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	16,110	287	375	292	7.8	46.9	Nov 13, 2024	J-GAAP
YoY	+2.9%	－	+294.7%	－	－

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 10, 2024	J-GAAP
Apr - Sep, 2024 Results	16,110	287	375	292	7.8	0	Nov 13, 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	17,203	483	685	334	9.0	0	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,890	213	425	308	8.3	3	Nov 13, 2024	J-GAAP
YoY	-1.8%	-55.9%	-38.0%	-7.8%	-8.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	33,105	-439	105	-444	-11.9	0	May 11, 2023	J-GAAP
Mar, 2024	32,863	361	780	220	5.9	0	May 10, 2024	J-GAAP
Mar, 2025 Guidance	33,000	500	800	600	16.1	3	May 10, 2024	J-GAAP
YoY	+0.4%	+38.5%	+2.6%	+172.7%	+171.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,708	-123	-88	-240	-6.5	-1.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	8,420	27	209	31	0.8	0.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,783	456	476	303	8.2	5.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	8,194	203	281	236	6.4	2.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,916	84	94	56	1.5	1.1	Nov 13, 2024	J-GAAP
YoY	+2.7%	－	－	－	－