TAIYO KAGAKU, The Current Fiscal Year Ordinary Profit Revised Upward by 32%, Highest in Three Terms, Dividend Revised Upward by 18 yen

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Mon Feb 10, 2025 3:40 pm JST Earnings

2902 TAIYO KAGAKU CO.,LTD. 【J-GAAP】

Earnings Report

TAIYO KAGAKU CO.,LTD. <2902> [NSE Main] announced its financial results after the market closed on February 10th (15:40). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 4.88 billion yen, an increase 32.7% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 31.9%, from the previous forecast of 4.7 billion yen to 6.2 billion yen (compared to 2.95 billion yen in the previous period), increasing the growth rate from 59.1% to 2.1 times, reaches new record high for the first time in three 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 90.4%, from the previous forecast of 1.65 billion yen to 3.15 billion yen (compared to 0.29 billion yen in the same period of the previous year), increasing the growth rate from 5.6 times to 11 times.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 57 yen to 75 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 80.1% from the same period last year, reaching 1.84 billion yen. The operating profit margin significantly improved from 8.5% in the same period last year to 12.5%.

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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	31,642	2,937	3,052	2,074	122.2	73.4	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	36,599	3,493	3,681	2,438	144.0	124.6	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	37,925	4,583	4,883	3,517	207.5	78.8	Feb 10, 2025	J-GAAP
YoY	+3.6%	+31.2%	+32.7%	+44.3%	+44.1%

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	24,014	1,637	1,659	948	56.2	47	Nov 5, 2024	J-GAAP
Oct - Mar, 2024 New	25,014	3,037	3,159	1,948	115.5	65	Feb 10, 2025	J-GAAP
Revision Rate	+4.2%	+85.5%	+90.4%	+105.5%	+105.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	49,000	4,600	4,700	3,200	189.7	57	May 7, 2024	J-GAAP
Mar, 2025 New	50,000	6,000	6,200	4,200	249.0	75	Feb 10, 2025	J-GAAP
Revision Rate	+2.0%	+30.4%	+31.9%	+31.3%	+31.2%

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	23,148	2,048	296	690	40.7	45	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,014	3,037	3,159	1,948	115.5	65	Feb 10, 2025	J-GAAP
YoY	+8.1%	+48.3%	+967.2%	+182.3%	+183.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	42,970	4,004	4,157	2,857	168.5	51	May 8, 2023	J-GAAP
Mar, 2024	47,665	4,512	2,954	2,411	142.4	55	May 7, 2024	J-GAAP
Mar, 2025 Guidance	50,000	6,000	6,200	4,200	249.0	75	Feb 10, 2025	J-GAAP
YoY	+4.9%	+33.0%	+109.9%	+74.2%	+74.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	12,082	1,029	1,023	717	42.3	8.5	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	11,066	1,019	-727	-27	-1.6	9.2	May 7, 2024	J-GAAP
Apr - Jun, 2024	12,461	1,415	1,536	982	58.0	11.4	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	12,525	1,548	1,505	1,270	74.9	12.4	Nov 5, 2024	J-GAAP
Oct - Dec, 2024	12,939	1,620	1,842	1,265	74.6	12.5	Feb 10, 2025	J-GAAP
YoY	+7.1%	+57.4%	+80.1%	+76.4%	+76.3%