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Showa Chemical Industry Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 23%

Thu Nov 14, 2024 2:00 pm JST Earnings

4990 Showa Chemical Industry Co.,Ltd. 【J-GAAP】

Earnings Report

Showa Chemical Industry Co.,Ltd. <4990> [TSE-S] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.6% from the same period last year to 249 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 22.5%, from the previous forecast of 400 million yen to 310 million yen (compared to 719 million yen in the previous period), leading to an increase in the profit decline rate from 44.4% to 56.9%.

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 significant drop by 71.6% from the same period last year to 61 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 84 million yen, a 66.8% decrease compared to the same period last year. The operating profit margin worsened from 7.3% in the same period last year to 4.6%.

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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 4,587 335 477 346 32.7 57.1 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 4,822 381 504 415 39.2 70.1 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 4,816 198 249 178 16.8 80.3 Nov 14, 2024 J-GAAP
YoY -0.1% -48.0% -50.6% -57.1% -57.2%

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 4,700 150 290 220 20.7 3 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 4,816 198 249 178 16.8 3 Nov 14, 2024 J-GAAP
Revision Rate +2.5% +32.0% -14.1% -19.1% -18.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 9,200 200 400 320 30.1 6 May 15, 2024 J-GAAP
Mar, 2025 New 9,200 220 310 210 19.7 6 Nov 14, 2024 J-GAAP
Revision Rate 0.0% +10.0% -22.5% -34.4% -34.4%

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 4,374 122 215 169 16.0 8 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,384 22 61 32 3.0 3 Nov 14, 2024 J-GAAP
YoY +0.2% -82.0% -71.6% -81.1% -81.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,225 600 835 616 58.2 9 May 15, 2023 J-GAAP
Mar, 2024 9,196 503 719 584 55.1 8 May 15, 2024 J-GAAP
Mar, 2025 Guidance 9,200 220 310 210 19.7 6 Nov 14, 2024 J-GAAP
YoY +0.0% -56.3% -56.9% -64.0% -64.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,293 168 253 231 21.8 7.3 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 2,252 117 149 126 11.9 5.2 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 2,122 5 66 43 4.1 0.2 May 15, 2024 J-GAAP
Apr - Jun, 2024 2,423 88 165 113 10.7 3.6 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 2,393 110 84 65 6.1 4.6 Nov 14, 2024 J-GAAP
YoY +4.4% -34.5% -66.8% -71.9% -71.9%

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