ASAHI KOGYOSHA, The Current Fiscal Year Ordinary Profit Revised Upward by 8%, Raises Record High Profit Forecast, Dividend Revised Upward by 10 yen

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Thu Feb 6, 2025 4:00 pm JST Earnings

1975 ASAHI KOGYOSHA CO.,LTD. 【J-GAAP】

Earnings Report

ASAHI KOGYOSHA CO.,LTD. <1975> [TSE Prime] announced its financial results after the market closed on February 6th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 4.42 billion yen, an increase 38.4% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 8.1%, from the previous forecast of 6.2 billion yen to 6.7 billion yen (compared to 4.89 billion yen in the previous period), increasing the growth rate from 26.6% to 36.8%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 15.7%, from the previous forecast of 3.19 billion yen to 3.69 billion yen (compared to 2.5 billion yen in the same period of the previous year), increasing the growth rate from 27.6% to 47.6%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 110 yen (compared to 120 yen before the 2-for-1 forward stock split in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 76.3% from the same period last year, reaching 1.41 billion yen. The operating profit margin improved from 2.8% in the same period last year to 5.6%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	53,830	1,333	1,748	1,151	44.8	55.9	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	65,881	2,878	3,200	2,143	83.3	65.4	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	62,676	4,048	4,428	3,324	129.2	66.1	Feb 6, 2025	J-GAAP
YoY	-4.9%	+40.7%	+38.4%	+55.1%	+55.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	51,998	3,203	3,191	2,638	102.4	75	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	49,498	3,603	3,691	3,138	121.8	85	Feb 6, 2025	J-GAAP
Revision Rate	-4.8%	+12.5%	+15.7%	+19.0%	+19.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	92,500	6,000	6,200	5,000	194.1	100	Nov 12, 2024	J-GAAP
Mar, 2025 New	90,000	6,400	6,700	5,500	213.6	110	Feb 6, 2025	J-GAAP
Revision Rate	-2.7%	+6.7%	+8.1%	+10.0%	+10.0%

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	49,679	2,357	2,501	2,097	81.6	40	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	49,498	3,603	3,691	3,138	121.8	85	Feb 6, 2025	J-GAAP
YoY	-0.4%	+52.9%	+47.6%	+49.6%	+49.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	80,171	2,697	3,127	2,480	96.6	40	May 12, 2023	J-GAAP
Mar, 2024	91,676	4,568	4,896	3,712	144.4	60	May 15, 2024	J-GAAP
Mar, 2025 Guidance	90,000	6,400	6,700	5,500	213.6	110	Feb 6, 2025	J-GAAP
YoY	-1.8%	+40.1%	+36.8%	+48.2%	+47.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	23,884	667	805	528	20.5	2.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	25,795	1,690	1,696	1,569	61.0	6.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	18,471	890	1,069	708	27.5	4.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	22,031	1,907	1,940	1,654	64.3	8.7	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	22,174	1,251	1,419	962	37.4	5.6	Feb 6, 2025	J-GAAP
YoY	-7.2%	+87.6%	+76.3%	+82.2%	+82.0%