Sanoh Industrial Co.,Ltd., First Half Ordinary Profit Decreases by 26%, July-September Ordinary Profit Decreases by 75%

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Thu Nov 14, 2024 3:30 pm JST Earnings

6584 Sanoh Industrial Co.,Ltd. 【J-GAAP】

Earnings Report

Sanoh Industrial Co.,Ltd. <6584> [TSE-P] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 26.3% from the same period last year to 2.15 billion yen. The progress rate against the 7 billion yen full-year plan was 30.8%, also falling below the five-year average of 78.2%.

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 grow by 10.8% from the same period last year, reaching 4.84 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 461 million yen, a 75.4% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.4% in the same period last year to 1.6%.

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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	63,599	-910	-411	-1,746	-48.3	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	74,555	3,187	2,925	1,333	37.0	40.1	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	81,094	2,384	2,156	1,153	32.2	30.8	Nov 14, 2024	J-GAAP
YoY	+8.8%	-25.2%	-26.3%	-13.5%	-12.9%

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	ー	ー	ー	ー	－	14	May 21, 2024	J-GAAP
Apr - Sep, 2024 Results	81,094	2,384	2,156	1,153	32.2	14	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	82,259	4,866	4,371	2,883	80.3	14	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	80,906	5,616	4,844	3,047	85.1	14	Nov 14, 2024	J-GAAP
YoY	-1.6%	+15.4%	+10.8%	+5.7%	+6.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	137,692	1,321	1,490	-907	-25.1	25	May 12, 2023	J-GAAP
Mar, 2024	156,814	8,053	7,296	4,216	117.4	26.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	162,000	8,000	7,000	4,200	117.3	28	May 21, 2024	J-GAAP
YoY	+3.3%	-0.7%	-4.1%	-0.4%	-0.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	38,109	2,075	1,871	1,472	40.8	5.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	40,154	2,312	2,197	1,477	41.1	5.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	42,105	2,554	2,174	1,406	39.2	6.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	39,143	1,713	1,695	1,014	28.3	4.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	41,951	671	461	139	3.9	1.6	Nov 14, 2024	J-GAAP
YoY	+10.1%	-67.7%	-75.4%	-90.6%	-90.5%