ASAHI KASEI, The Current Fiscal Year Ordinary Profit Revised Downward by 2%

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Wed Feb 5, 2025 12:30 pm JST Earnings

3407 ASAHI KASEI CORPORATION 【J-GAAP】

Earnings Report

ASAHI KASEI CORPORATION <3407> [TSE Prime] announced its financial results at noon (12:30) on February 5th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 153 billion yen, an increase 69.4% compared to the same period last year.

However, the full-year consolidated ordinary profit has decreased 2.1%, from the previous forecast of 190 billion yen to 186 billion yen (compared to 90.1 billion yen in the previous period), leading to a reduction in the profit growth rate from 2.1 times to 2.1 times.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 4.6%, from the previous forecast of 86.2 billion yen to 82.2 billion yen (compared to 38 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 2.3 times to 2.2 times.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 28.9% from the same period last year, reaching 49.5 billion yen. The operating profit margin improved from 5.9% in the same period last year to 7.2%.

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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	2,040,417	116,062	111,650	65,784	47.4	92.3	Feb 8, 2023	J-GAAP
Apr - Dec, 2023	2,064,146	98,499	90,502	58,565	42.3	100.4	Feb 7, 2024	J-GAAP
Apr - Dec, 2024	2,259,252	164,389	153,286	98,475	71.1	82.4	Feb 5, 2025	J-GAAP
YoY	+9.5%	+66.9%	+69.4%	+68.1%	+68.3%

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	1,580,666	86,085	86,293	49,752	36.6	18	Nov 1, 2024	J-GAAP
Oct - Mar, 2024 New	1,553,666	91,085	82,293	49,752	36.6	18	Feb 5, 2025	J-GAAP
Revision Rate	-1.7%	+5.8%	-4.6%	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	3,071,000	195,000	190,000	110,000	81.0	36	Nov 1, 2024	J-GAAP
Mar, 2025 New	3,044,000	200,000	186,000	110,000	81.0	36	Feb 5, 2025	J-GAAP
Revision Rate	-0.9%	+2.6%	-2.1%	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	1,438,954	84,859	38,069	12,965	9.4	18	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,553,666	91,085	82,293	49,752	36.6	18	Feb 5, 2025	J-GAAP
YoY	+8.0%	+7.3%	+116.2%	+283.7%	+291.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,726,485	127,716	120,900	-91,948	-66.3	36	May 10, 2023	J-GAAP
Mar, 2024	2,784,878	140,746	90,118	43,806	31.6	36	May 9, 2024	J-GAAP
Mar, 2025 Guidance	3,044,000	200,000	186,000	110,000	81.0	36	Feb 5, 2025	J-GAAP
YoY	+9.3%	+42.1%	+106.4%	+151.1%	+156.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	718,222	42,612	38,453	27,724	20.0	5.9	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	720,732	42,247	-384	-14,759	-10.7	5.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	735,934	49,873	53,718	34,092	24.6	6.8	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	754,400	59,042	49,989	26,156	18.9	7.8	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	768,918	55,474	49,579	38,227	27.6	7.2	Feb 5, 2025	J-GAAP
YoY	+7.1%	+30.2%	+28.9%	+37.9%	+38.0%