Aica Kogyo Co., Ltd.
H1 Results for the Fiscal Year
Ended March 31, 2025
November 25, 2024 Stock code: 4206
H1 Results for the FY2024 - Key Highlights
Consolidated Results
Japanese
Business
Overseas
Business
Full Year
Forecast
Capital
Policy
- Net sales, operating profit, ordinary profit, and net income*1 exceeded both the plan and the previous year, setting new record highs.
- Chemical Products continued to improve its profitability
- Laminates & Building Materials achieved growth, led by high-value-added products
- Chemical Products grew both in AAP *2 Group and EMC *3 Group
- Laminates & Building Materials experienced a weak trend in China and Vietnam but saw growth in Thailand and Indonesia
- We plan record highs in net sales, operating profit, ordinary profit, and net income*1 for the full year
- Revised dividend plan (increase of JPY 4 from the previous year to JPY 116)
- Conducting a secondary offering of company shares and acquiring treasury shares, with a maximum limit of JPY 4 billion (1.5 million shares)
*1 Profit attributable to owners of parent | *2 AAP: AICA Asia Pacific | *3 EMC: EVERMORE CHEMICAL INDUSTRY |
ⒸAica Kogyo Co., Ltd. | 2 |
Table of Contents
- H1 Results for the FY2024
- FY2024 Full Year Forecast
-
Progress of Medium-Term Business Plan
"Value Creation 3000 & 300" - Capital Policy and Shareholder Returns
3
ⒸAica Kogyo Co., Ltd. | 3 |
1-1. Consolidated Financial Results
[JPY million] | ||||||||
FY2023 H1 | FY2024 H1 | |||||||
Profit | Profit | |||||||
Results | Forecast*2 | Results | YoY | vs Fcst. | ||||
Margin | Margin | |||||||
Net Sales | 113,307 | － | 120,000 | 120,140 | - | +6.0% | 100.1% | |
Operating Profit | 11,406 | 10.1% | 12,700 | 13,147 | 10.9% | +15.3% | 103.5% | |
Ordinary Profit | 12,047 | 10.6% | 13,300 | 14,230 | 11.8% | +18.1% | 107.0% | |
Net Income*1 | 7,856 | 6.9% | 8,000 | 8,855 | 7.4% | +12.7% | 110.7% | |
[JPY] | ||||||||
Earning Per Share*1 | 122.82 | - | 125.06 | 138.44 | － | +12.7% | 110.7% | |
*1 Profit attributable to owners of parent | *2 Revised financial forecast on July 30, 2024 (upward revision of profits) |
Net sales, operating profit, ordinary profit, and net income*1 have all achieved record highs
ⒸAica Kogyo Co., Ltd. | 4 |
1-2. Historical Consolidated Results
Net Sales
120,000 | 117,704 | 120,140 | ||
113,307 | ||||
14,230 | ||||
100,000 | 98,650 | 12,047 | ||
10,156 | 10,294 | |||
8,855 | ||||
80,000 | 77,927 | |||
7,856 | ||||
6,484 | 6,267 | 6,436 | ||
60,000 |
3,841
40,000
FY2020 H1 | FY2021 H1 | FY2022 H1 | FY2023 H1 | FY2024 H1 | |||
Net Sales | Ordinary Profit | Net Income * | |||||
* Profit attributable to owners of parent
[JPY million] Profit
15,000
12,500
10,000
7,500
5,000
2,500
Profits grew steadily (with each profit increased for the fourth consecutive year)
ⒸAica Kogyo Co., Ltd. | 5 |
1-3. [Reference] Key Data
FY2022 H1 | FY2023 H1 | FY2024 H1 | ||
R&D Expenditure | JPY 1.72 billion | JPY 1.94 billion | JPY 2.06 billion | |
Depreciation | JPY 3.10 billion | JPY 3.02 billion | JPY 3.55 billion | |
Capital Investment | JPY 4.43 billion | JPY 3.48 billion | JPY 3.86 billion | |
Outstanding Debts | JPY 14.52 billion | JPY 12.32 billion | JPY11.97 billion | |
Number of Employees | 4,971 | 5,111 | 5,058 | |
(Japanese Business) | 1,608 | 1,596 | 1,592 |
(Overseas Business)
3,363 | 3,515 |
3,466
ⒸAica Kogyo Co., Ltd. | 6 |
1-4. Results by Segment
[JPY million] | |||||||||||
Net Sales | Operating Profit | ||||||||||
FY2023 H1 | FY2024 H1 | YoY | FY2024 H1 | vs Fcst. | FY2023 H1 | FY2024 H1 | YoY | FY2024 H1 | vs Fcst. | ||
Results | Results | Forecast | Results | Results | Forecast* | ||||||
Chemical | 4,225 | 4,619 | +9.3% | 4,780 | 96.6% | Amount | |||||
63,697 | 67,571 | 6.1% | 66,300 | 101.9% | |||||||
Products | Profit | ||||||||||
6.6% | 6.8% | - | 7.2% | - | |||||||
Margin | |||||||||||
Laminates | 9,090 | 10,518 | +15.7% | 10,115 | 104.0% | Amount | |||||
& Building | 49,610 | 52,569 | 6.0% | 53,700 | 97.9% | ||||||
Profit | |||||||||||
Materials | 18.3% | 20.0% | - | 18.8% | - | ||||||
Margin | |||||||||||
(Adjustments) | -1,909 | -1,990 | - | -2,195 | - | Amount | |||||
11,406 | 13,147 | +15.3% | 12,700 | 103.5% | Amount | ||||||
Total | 113,307 | 120,140 | 6.0% | 120,000 | 100.1% | ||||||
10.1% | 10.9% | - | 10.6% | － | Profit | ||||||
Margin | |||||||||||
*Revised financial forecast on July 30, 2024 (upper revision of profits)
Operating profit grew in both segments (Laminates & Building Materials also exceeded the plan)
ⒸAica Kogyo Co., Ltd. | 7 |
1-5. Overseas Sales by Segment
[JPY billion] | |
FY2023 H1 | FY2024 H1 |
Net Sales | Overseas Sales | Net Sales | YoY | Overseas Sales | |
Ratio | Ratio | ||||
Chemical | 45.29 | 71.1% | 48.33 | +6.7% | 71.5% |
Products | |||||
Laminates & | |||||
Building | 9.47 | 19.1% | 9.68 | +2.2% | 18.4% |
Materials | |||||
Total | 54.77 | 48.3% | 58.01 | +5.9% | 48.3% |
Overseas net sales grew in both segments
(Laminates & Building Materials saw significant growth in Japan,
leading to a decline in the overseas sales ratio)
ⒸAica Kogyo Co., Ltd. | 8 |
1-6. Operating Profit Results for Chemical Products
[JPY million]
4,619
4,225 | - 65 | - 11 |
Aica Kogyo Non-consolidated
Raw materials cost, etc. | -321 | AAP Group: | +225 | |||||
Price adjustments/cost reduction | +322 | EMC Group: | +25 | |||||
*Operating profit before deducting adjustments | *AAP: AICA Asia Pacific | *EMC: EVERMORE CHEMICAL INDUSTRY |
An increase in sales volume and improvement in the product mix contributed
in Japan, while the AAP Group saw growth overseas
ⒸAica Kogyo Co., Ltd. | 9 |
1-7. Operating Profit Results for Laminates & Building Materials
[JPY million] 10,518
- 51- 89
9,090
Aica Kogyo Non-consolidated
Raw materials cost, etc. | -497 | |
Price adjustments | +501 | |
Reduced costs | +353 | |
*Operating profit before deducting adjustments
Aica Kogyo (non-consolidated) saw significant growth,
while overseas Groups largely met the plan
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