May 19, 2025
Chugoku Marine Paints, Ltd.
(TSE Code: 4617)
Company mascot, "Pentaro"
Outline１. Consolidated Earnings Summary
Page 3-10２. Summary by Product and Region 11-19
３. Medium-Term Management Plan:
Progress in FY2024 20-26４. FY2025 Forecast and Key Business Topics
27-32５. Reference Material 33-46
Note: Figures presented in tables and graphs are expressed in millions of yen unless otherwise indicated.
1. Consolidated Earnings Summary Full-year earnings highlights
✔ Net sales increased as we made progress in optimizing selling prices to better reflect manufacturing costs, primarily for marine coatings, and benefited from the weak yen.
✔ Profitability improved, mainly due to selling price revisions and increased sales of high-value added products.
Operating profit
✔ Net sales and all profit categories hit record-highs (for the second consecutive year).
131,152
116,174
131,152
116,174
FY2023
FY2024
30.4%
Gross margin
32.5%
Net sales
Up 12.9% YoY
Up 26.2％ YoY
15,381
12,185
FY2023
FY2024
,
,
,
2023年度 通期
2024年度 通期
2024年度 通期
2023年度 通期
,
Consolidated income statement
Gross margin increased 2.1pt YoY, driven by enhanced profitability from ongoing selling price revisions and improvements in product mix, as well as lower raw material procurement costs overseas.
Operating profit margin rose to 11.7%, as the increase in gross profit covered higher SG&A expenses (personnel, transportation, and currency translation expenses).
FY2023 | FY2024 | Change | % change | |||
Net sales | 116,174 | 100.0% | 131,152 | 100.0% | ＋14,977 | ＋12.9% |
Gross profit | 35,343 | 30.4% | 42,599 | 32.5% | ＋7,255 | ＋20.5% |
SG&A expenses | 23,158 | 19.9% | 27,217 | 20.8% | ＋4,059 | ＋17.5% |
Operating profit | 12,185 | 10.5% | 15,381 | 11.7% | ＋3,196 | ＋26.2% |
Ordinary profit | 13,025 | 11.2% | 16,481 | 12.6% | ＋3,455 | ＋26.5% |
Profit before income taxes | 12,601 | 10.8% | 18,228 | 13.9% | ＋5,626 | ＋44.7% |
Profit attributable to owners of parent | 9,892 | 8.5% | 13,721 | 10.5% | ＋3,828 | ＋38.7% |
Earnings per share (yen) | 199.60 | 276.78 | ＋77.18 | ＋38.7% | ||
Of the factors affecting operating profit, selling price increases provided a ¥2,650 million boost while higher raw material procurement costs depressed profit by ¥600 million (both figures are estimates). Recorded an extraordinary gain of ¥2,500 million on sale of non-current assets, mainly for the sale of Shanghai No. 2 Factory.