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SUMIDA CORPORATION, January-September (Third Quarter Cumulative) Net Income Decreases by 72%, July-September Net Income Decreases by 30%

Thu Oct 31, 2024 4:00 pm JST Earnings

6817 SUMIDA CORPORATION 【IFRS】

Earnings Report

SUMIDA CORPORATION <6817> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 71.5% from the same period last year to 1.24 billion yen. The progress rate against the 2.1 billion yen full-year plan was 59.1%, also falling below the five-year average of 74.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to grow by 22.2% from the same period last year, reaching 858 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income dropped to 756 million yen, a 30.3% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 4.9%.

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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
Jan - Sep, 2022 100,957 5,348 4,231 3,033 111.5 64.8 Oct 31, 2022 IFRS
Jan - Sep, 2023 110,933 7,415 5,469 4,362 148.2 93.4 Oct 31, 2023 IFRS
Jan - Sep, 2024 109,536 4,106 1,684 1,242 37.8 64.8 Oct 31, 2024 IFRS
YoY -1.3% -44.6% -69.2% -71.5% -74.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 74,457 3,326 1,813 1,786 59.1 28 Feb 7, 2024 IFRS
Jul - Dec, 2024 Guidance 75,634 3,668 1,867 1,614 48.8 27 Jul 31, 2024 IFRS
YoY +1.6% +10.3% +3.0% -9.6% -17.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 138,600 8,189 6,534 5,099 187.5 47 Feb 7, 2023 IFRS
Dec, 2023 147,672 8,564 5,856 5,064 167.5 51 Feb 7, 2024 IFRS
Dec, 2024 Guidance 148,700 6,000 2,600 2,100 63.5 53 Jul 31, 2024 IFRS
YoY +0.7% -29.9% -55.6% -58.5% -62.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 37,718 2,177 1,426 1,084 36.8 5.8 Oct 31, 2023 IFRS
Oct - Dec, 2023 36,739 1,149 387 702 23.2 3.1 Feb 7, 2024 IFRS
Jan - Mar, 2024 36,313 1,194 464 348 10.7 3.3 Apr 30, 2024 IFRS
Apr - Jun, 2024 36,753 1,138 269 138 4.2 3.1 Jul 31, 2024 IFRS
Jul - Sep, 2024 36,470 1,774 951 756 23.0 4.9 Oct 31, 2024 IFRS
YoY -3.3% -18.5% -33.3% -30.3% -37.5%

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