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FUJI LATEX CO.,LTD., First Half Ordinary Profit Decreases by 50%

Tue Nov 5, 2024 3:00 pm JST Earnings

5199 FUJI LATEX CO.,LTD. 【J-GAAP】

Earnings Report

FUJI LATEX CO.,LTD. <5199> [TSE-S] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.2% from the same period last year to 119 million yen, fell short of the previous forecast of 230 million yen.

The progress rate against the 510 million yen full-year plan was 23.3%, also falling below the five-year average of 77.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to surge by 2.7 times that of the same period last year, reaching 391 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 17 million yen, a 88.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.4% in the same period last year to 2.2%.

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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 4,171 373 369 257 203.3 50.5 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 3,866 247 239 173 137.0 62.6 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 3,639 134 119 58 45.8 23.3 Nov 5, 2024 J-GAAP
YoY -5.9% -45.7% -50.2% -66.5% -66.6%

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 3,900 240 230 160 126.2 － May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 3,639 134 119 58 45.8 － Nov 5, 2024 J-GAAP
Revision Rate -6.7% -44.2% -48.3% -63.7% -63.7%

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 3,642 192 143 116 91.7 50 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,461 406 391 232 183.0 50 Nov 5, 2024 J-GAAP
YoY +22.5% +111.5% +173.4% +100.0% +99.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 8,085 760 730 517 407.9 50 May 15, 2023 J-GAAP
Mar, 2024 7,508 439 382 289 228.4 50 May 15, 2024 J-GAAP
Mar, 2025 Guidance 8,100 540 510 290 228.8 50 May 15, 2024 J-GAAP
YoY +7.9% +23.0% +33.5% +0.3% +0.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,994 148 153 110 87.1 7.4 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 1,855 129 120 84 66.4 7.0 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 1,787 63 23 32 25.3 3.5 May 15, 2024 J-GAAP
Apr - Jun, 2024 1,814 94 102 71 56.7 5.2 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 1,825 40 17 -13 -10.3 2.2 Nov 5, 2024 J-GAAP
YoY -8.5% -73.0% -88.9% － －

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