FUKUVI CHEMICAL INDUSTRY CO.,LTD., First Half Ordinary Profit Decreases by 30%, July-September Ordinary Profit Decreases by 50%

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Thu Nov 14, 2024 4:00 pm JST Earnings

7871 FUKUVI CHEMICAL INDUSTRY CO.,LTD. 【J-GAAP】

Earnings Report

FUKUVI CHEMICAL INDUSTRY CO.,LTD. <7871> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 29.9% from the same period last year to 700 million yen. The progress rate against the 2.13 billion yen full-year plan was 32.9%, also falling below the five-year average of 40.7%.

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 27.8% from the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 237 million yen, a 49.7% decrease compared to the same period last year. The operating profit margin worsened from 4.3% in the same period last year to 3.4%.

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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	19,355	508	758	599	29.3	39.9	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	19,580	771	998	682	34.3	47.1	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	19,612	635	700	472	23.6	32.9	Nov 14, 2024	J-GAAP
YoY	+0.2%	-17.6%	-29.9%	-30.8%	-31.1%

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	19,780	670	770	570	28.5	10.50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	19,612	635	700	472	23.6	10.50	Nov 14, 2024	J-GAAP
Revision Rate	-0.8%	-5.2%	-9.1%	-17.2%	-17.1%

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	20,155	982	1,119	1,022	51.4	15.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,188	1,165	1,430	1,253	63.5	15.50	Nov 14, 2024	J-GAAP
YoY	+5.1%	+18.6%	+27.8%	+22.6%	+23.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,567	1,554	1,902	1,482	73.3	22	May 15, 2023	J-GAAP
Mar, 2024	39,735	1,753	2,117	1,704	85.6	31	May 14, 2024	J-GAAP
Mar, 2025 Guidance	40,800	1,800	2,130	1,725	87.5	26	May 14, 2024	J-GAAP
YoY	+2.7%	+2.7%	+0.6%	+1.2%	+2.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,728	421	471	304	15.3	4.3	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	10,719	719	758	741	37.2	6.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,436	263	361	281	14.1	2.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	9,562	290	463	350	17.6	3.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,050	345	237	122	6.1	3.4	Nov 14, 2024	J-GAAP
YoY	+3.3%	-18.1%	-49.7%	-59.9%	-60.0%