MUROMACHI CHEMICALS, First Half Ordinary Profit Increases by 55%

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Tue Jan 14, 2025 4:00 pm JST Earnings

4885 MUROMACHI CHEMICALS INC. 【J-GAAP】

Earnings Report

MUROMACHI CHEMICALS INC. <4885> [TSE Std] announced its financial results after the market closed on January 14th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending May 2025 (June to November) expanded 171 million yen, an increase 55.5% compared to the same period last year. However, the progress rate toward the full-year plan of 430 million yen was 39.8%, also falling below the five-year average of 56.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the December to May period (2H) is expected to decrease 18.6% from the same period last year to 259 million yen.

In the most recent three-month period, from September to November (2Q), the ordinary profit grew 12.1% from the same period last year, reaching 74 million yen. However, the operating profit margin remained almost flat, changing from 4.9% in the same period last year to 4.7%.

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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
Jun - Nov, 2022	3,121	225	207	149	39.9	59.1	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	2,912	115	110	93	23.6	25.7	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	2,965	154	171	120	30.3	39.8	Jan 14, 2025	J-GAAP
YoY	+1.8%	+33.9%	+55.5%	+29.0%	+28.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	3,000	150	170	120	30.0	0	Dec 17, 2024	J-GAAP
Jun - Nov, 2024 Results	2,965	154	171	120	30.3	0	Jan 14, 2025	J-GAAP
Revision Rate	-1.2%	+2.7%	+0.6%	0.0%	+1.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	3,457	306	318	237	59.9	22	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	3,735	296	259	180	45.0	25	Jan 14, 2025	J-GAAP
YoY	+8.0%	-3.3%	-18.6%	-24.1%	-25.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	6,291	369	350	256	67.9	19	Jul 14, 2023	J-GAAP
May, 2024	6,369	421	428	330	83.4	22	Jul 12, 2024	J-GAAP
May, 2025 Guidance	6,700	450	430	300	74.9	25	Jul 12, 2024	J-GAAP
YoY	+5.2%	+6.9%	+0.5%	-9.1%	-10.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	1,396	69	66	71	18.0	4.9	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,543	137	135	97	24.6	8.9	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,914	169	183	140	35.4	8.8	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	1,541	87	97	69	17.4	5.6	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	1,424	67	74	51	12.9	4.7	Jan 14, 2025	J-GAAP
YoY	+2.0%	-2.9%	+12.1%	-28.2%	-28.7%