Showa Sangyo, Oct-Dec (3Q) Ordinary Profit Decreases by 32%, Current Fiscal Year Dividend Revised Upward by 20 yen

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Fri Feb 7, 2025 4:00 pm JST Earnings

2004 Showa Sangyo Co., Ltd. 【J-GAAP】

Earnings Report

Showa Sangyo Co., Ltd. <2004> [TSE Prime] announced its financial results after the market closed on February 7th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 14.8% from the same period last year to 12 billion yen. However, the progress rate toward the full-year plan of 13 billion yen was 92.7%, also surpassing the five-year average of 88.9%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to significant drop 60.6% from the same period last year to 0.95 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 80 yen to 100 yen (compared to 80 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit dropped to 3.78 billion yen, a 32.2% decrease compared to the same period last year. The operating profit margin worsened from 4.4% in the same period last year to 3.3%.

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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	253,146	4,562	6,574	4,043	121.0	100.8	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	265,555	11,319	14,137	10,362	309.8	85.4	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	255,669	9,745	12,046	10,397	318.7	92.7	Feb 7, 2025	J-GAAP
YoY	-3.7%	-13.9%	-14.8%	+0.3%	+2.9%

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	177,418	5,133	4,738	3,414	105.1	40	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	177,418	5,133	4,738	3,414	105.1	60	Feb 7, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	346,000	12,000	13,000	11,000	338.7	80	May 13, 2024	J-GAAP
Mar, 2025 New	346,000	12,000	13,000	11,000	338.7	100	Feb 7, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	170,776	5,794	8,000	6,628	198.1	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	177,418	5,133	4,738	3,414	105.1	60	Feb 7, 2025	J-GAAP
YoY	+3.9%	-11.4%	-40.8%	-48.5%	-46.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	335,053	4,184	6,525	7,776	232.6	65	May 11, 2023	J-GAAP
Mar, 2024	346,358	13,146	16,558	12,358	369.4	80	May 13, 2024	J-GAAP
Mar, 2025 Guidance	346,000	12,000	13,000	11,000	338.7	100	Feb 7, 2025	J-GAAP
YoY	-0.1%	-8.7%	-21.5%	-11.0%	-8.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	89,973	3,967	5,579	4,632	138.5	4.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	80,803	1,827	2,421	1,996	59.7	2.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	85,929	4,118	5,191	5,322	161.7	4.8	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	82,653	2,749	3,071	2,264	69.3	3.3	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	87,087	2,878	3,784	2,811	86.2	3.3	Feb 7, 2025	J-GAAP
YoY	-3.2%	-27.5%	-32.2%	-39.3%	-37.8%