Shikoku Kasei (4099) Q2 2024 earnings summary

Executive summary

• Net sales rose 14.1% year-over-year to ¥35,225 million for the six months ended June 30, 2024, with operating profit up 27.7% to ¥4,835 million and profit attributable to owners of parent up 25.5% to ¥4,032 million.

• Overseas sales growth and yen depreciation drove record highs in sales and profits, especially in Chemicals operations.

Financial highlights

• Gross profit increased to ¥13,875 million from ¥11,742 million year-over-year.

• Basic earnings per share rose to ¥85.41 from ¥61.22 year-over-year.

• Comprehensive income was ¥5,335 million, nearly flat year-over-year.

• Equity ratio declined to 61.1% from 65.7% at the previous fiscal year-end.

Outlook and guidance

• Full-year net sales forecast revised upward to ¥68,000 million, operating profit to ¥8,200 million, and profit attributable to owners of parent to ¥7,900 million, reflecting yen depreciation and strong Chemicals performance.

• Basic earnings per share forecast raised to ¥171.54.

• Dividend forecast increased to ¥50.00 per share for 2024.