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EIKEN CHEMICAL CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 8% Decrease

Thu Oct 31, 2024 3:20 pm JST Earnings

4549 EIKEN CHEMICAL CO.,LTD. 【J-GAAP】

Earnings Report

EIKEN CHEMICAL CO.,LTD. <4549> [TSE-P] announced its financial results after the market closed on October 31st (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 23.7% from the same period last year to 1.69 billion yen, resulting in a decrease in profits compared to the previous forecast of a 27.2% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 41.8%, from the previous forecast of 5.62 billion yen to 3.27 billion yen (compared to 3.56 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 8.4% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 17.1% from the same period last year, reaching 1.57 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.05 billion yen, a 7.1% decrease compared to the same period last year. The operating profit margin decreased from 10.5% in the same period last year to 9.6%.

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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 22,865 5,656 5,721 4,321 116.9 75.6 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 20,264 2,148 2,225 1,618 43.7 62.4 Oct 26, 2023 J-GAAP
Apr - Sep, 2024 19,729 1,566 1,698 1,309 37.8 51.9 Oct 31, 2024 J-GAAP
YoY -2.6% -27.1% -23.7% -19.1% -13.4%

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 21,500 2,870 2,830 2,230 64.4 26 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 19,729 1,566 1,698 1,309 37.8 26 Oct 31, 2024 J-GAAP
Revision Rate -8.2% -45.4% -40.0% -41.3% -41.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 43,100 5,660 5,620 4,480 133.2 53 May 9, 2024 J-GAAP
Mar, 2025 New 40,200 3,210 3,270 2,620 77.9 53 Oct 31, 2024 J-GAAP
Revision Rate -6.7% -43.3% -41.8% -41.5% -41.5%

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 19,788 1,229 1,343 1,016 27.7 26 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 20,471 1,644 1,572 1,311 39.0 27 Oct 31, 2024 J-GAAP
YoY +3.5% +33.8% +17.1% +29.0% +41.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 43,271 7,457 7,568 5,736 155.2 51 Apr 28, 2023 J-GAAP
Mar, 2024 40,052 3,377 3,568 2,634 71.7 51 May 9, 2024 J-GAAP
Mar, 2025 Guidance 40,200 3,210 3,270 2,620 77.9 53 Oct 31, 2024 J-GAAP
YoY +0.4% -4.9% -8.4% -0.5% +8.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,400 1,096 1,138 848 22.9 10.5 Oct 26, 2023 J-GAAP
Oct - Dec, 2023 10,229 1,269 1,272 953 25.7 12.4 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 9,559 -40 71 63 1.7 -0.4 May 9, 2024 J-GAAP
Apr - Jun, 2024 9,519 583 641 486 14.1 6.1 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 10,210 983 1,057 823 23.8 9.6 Oct 31, 2024 J-GAAP
YoY -1.8% -10.3% -7.1% -2.9% +3.9%

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