The company's operating profit decreased 17.7 percent year-on-year to 1,422 million yen (~$9.08 million) in the nine months of 2024. Non-operating income increased to 167 million yen, driven by due to higher dividend income from the operating profits of entities that use the equity method. , offsetting slightly higher non-operating expenses of 92 million yen. The company's ordinary profit stood at 1,497 billion yen, a decrease of 15.6 percent year on year, Sanyo Shokai said in a press release.
Sanyo Shokai Ltd has reported net sales of 43.525 billion yen (~$277.7 million) for the nine months of 2024, a year-on-year decline of 2.4 percent. Operating profit fell 17.7 percent to 1,422 million yen (~$9.08 million), and ordinary profit fell 15.6 percent. Earnings per share decreased to ¥103.45 (~$0.66). For the full year, the company forecasts a 0.6 percent drop in sales to 61 billion yen (~$389.45 million).
Extraordinary income fell to 1 million yen, while extraordinary losses increased to 85 million yen due to litigation settlements and cancellation penalties. Profit before income taxes decreased to 1,414 million yen, and total income taxes increased to 214 million yen. The company's earnings per share for the 9-month period stood at 103.45 yen (~$0.66), compared to 145.41 yen (~$0.93) in the 9-month period last year. .
Comprehensive income for the period fell to 906 million yen from 3.21 billion yen in the same period a year earlier. Comprehensive income attributable to parent owners decreased to 906 million yen, while the share of minority interests remained stable at 1 million yen.
For the full year ending February 28, 2025, Sanyo Shokai expects a slight decline in net sales of 0.6 percent year-on-year to 61 billion yen (~$389.45 million). Operating profit is expected to decline 11.4 percent year-on-year to 2.7 billion yen, and ordinary profit is expected to fall 12.1 percent year-on-year to 2.8 billion yen.
Fiber2Fashion News Desk (SG)
