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S.ISHIMITSU&CO.,LTD., First Half Ordinary Profit Decreases by 45%, July-September Ordinary Profit Decreases by 63%

Thu Nov 14, 2024 12:00 pm JST Earnings

2750 S.ISHIMITSU&CO.,LTD. 【J-GAAP】

Earnings Report

S.ISHIMITSU&CO.,LTD. <2750> [TSE-S] announced its financial results at noon (12:00) on November 14th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 45.2% from the same period last year to 451 million yen. The progress rate against the 1.39 billion yen full-year plan was 32.3%, also falling below the five-year average of 48.4%.

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 grow by 2.9% from the same period last year, reaching 945 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 185 million yen, a 63.2% decrease compared to the same period last year. The operating profit margin worsened from 2.7% 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 28,358 845 976 569 73.8 75.4 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 30,780 720 823 579 75.0 47.3 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 30,154 434 451 368 47.6 32.3 Nov 14, 2024 J-GAAP
YoY -2.0% -39.7% -45.2% -36.4% -36.6%

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 31,065 547 492 337 43.4 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 30,154 434 451 368 47.6 0 Nov 14, 2024 J-GAAP
Revision Rate -2.9% -20.7% -8.3% +9.2% +9.5%

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 31,245 934 918 470 60.8 30 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 33,927 970 945 571 73.6 30 Nov 14, 2024 J-GAAP
YoY +8.6% +3.9% +2.9% +21.5% +21.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 58,972 1,317 1,295 792 102.6 24 May 12, 2023 J-GAAP
Mar, 2024 62,025 1,654 1,741 1,049 135.6 30 May 10, 2024 J-GAAP
Mar, 2025 Guidance 64,081 1,404 1,396 939 121.0 30 May 10, 2024 J-GAAP
YoY +3.3% -15.1% -19.8% -10.5% -10.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 15,967 433 503 391 50.6 2.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 16,587 616 615 263 34.0 3.7 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 14,658 318 303 207 26.8 2.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 14,601 258 266 235 30.4 1.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 15,553 176 185 133 17.2 1.1 Nov 14, 2024 J-GAAP
YoY -2.6% -59.4% -63.2% -66.0% -66.0%

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