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SUGAI CHEMICAL INDUSTRY CO., LTD., First Half Ordinary Profit Decreases by 58%, July-September Ordinary Profit Turns to Loss

Wed Nov 6, 2024 3:00 pm JST Earnings

4120 SUGAI CHEMICAL INDUSTRY CO., LTD. 【J-GAAP】

Earnings Report

SUGAI CHEMICAL INDUSTRY CO., LTD. <4120> [TSE-S] announced its financial results in the afternoon session on November 6th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 57.6% from the same period last year to 180 million yen. The progress rate against the 510 million yen full-year plan was 35.3%, almost the same as the five-year average of 35.2%.

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 October to March period (second half) is expected to grow by 4.8% from the same period last year, reaching 330 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a loss of 85 million yen (compared to a profit of 130 million yen in the same period last year). The operating profit/loss margin drastically worsened from 6.9% in the same period last year to -6.2%.

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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
Apr - Sep, 2022 2,857 243 291 195 149.0 38.9 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 3,560 379 425 290 222.2 57.4 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 2,541 117 180 112 85.8 35.3 Nov 6, 2024 J-GAAP
YoY -28.6% -69.1% -57.6% -61.4% -61.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 2,500 100 150 110 84.2 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 2,541 117 180 112 85.8 0 Nov 6, 2024 J-GAAP
Revision Rate +1.6% +17.0% +20.0% +1.8% +1.9%

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 4,057 258 315 199 152.4 60 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,059 323 330 258 197.5 60 Nov 6, 2024 J-GAAP
YoY +0.0% +25.2% +4.8% +29.6% +29.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,059 650 749 578 442.3 45 May 11, 2023 J-GAAP
Mar, 2024 7,617 637 740 489 374.4 60 May 10, 2024 J-GAAP
Mar, 2025 Guidance 6,600 440 510 370 283.2 60 May 10, 2024 J-GAAP
YoY -13.4% -30.9% -31.1% -24.3% -24.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,848 128 130 93 71.3 6.9 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 1,960 291 315 208 159.4 14.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 2,097 -33 0 -9 -6.9 -1.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,039 210 265 183 140.7 20.2 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 1,502 -93 -85 -71 -54.4 -6.2 Nov 6, 2024 J-GAAP
YoY -18.7% － － － －

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