Consolidated Financial Results for the Nine Months Ended December 31, 2024(Under Japanese GAAP) [PDF:456KB]

Published February 13, 2025 at 6:49 a.m. UTC

Source: MarketScreener

Consolidated Financial Results

for the Nine Months Ended December 31, 2024

(Under Japanese GAAP)

February 13, 2025

Company name:	Nippon Soda Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	4041
URL:	https://www.nippon-soda.co.jp
Representative:	President	Eiji Aga
Inquiries:	Manager, General Affairs Dept.	Nobuki Minabe
Telephone:	+81-3-6366-1920
Scheduled date to commence dividend payments:	－
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)

(1) Consolidated operating results (cumulative)				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit		Ordinary profit		Profit attributable to
				owners of parent

Nine months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%

	December 31, 2024	107,304	1.8	11,198	14.6	14,563	(4.7)	12,538	6.4
	December 31, 2023	105,355	(15.2)	9,774	(33.9)	15,286	(26.7)	11,784	(11.2)

Note:	Comprehensive income	For the nine months ended December 31, 2024:	¥7,014 million [	(62.4%) ]
			For the nine months ended December 31, 2023:	¥18,641 million [	11.1%	]

			Basic earnings per share	Diluted earnings
			per share

Nine months ended			Yen		Yen
	December 31, 2024			227.66		―
	December 31, 2023			211.45		―

Note:	The Company conducted a 2-for-1 share split for every share of common shares with the effective date of October 1, 2024.
	Basic earnings per share have been calculated assuming that the aforementioned share split was conducted at the beginning of the
	previous consolidated fiscal year.

(Percentages indicate year-on-yearchanges)

(2) Consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio

As of	Millions of yen	Millions of yen	%
December 31, 2024	293,714	189,807	64.2
March 31, 2024	290,492	189,474	64.7

Reference:	Equity
	As of December 31, 2024:	¥188,495	million
	As of March 31, 2024:	¥188,048	million

2. Cash dividends

					Annual dividends per share
		First quarter-end		Second quarter-end		Third quarter-end		Fiscal year-end		Total


Fiscal year ended	Yen		Yen		Yen		Yen		Yen
	March 31, 2024	―		120		―		120		240

Fiscal year ending
	March 31, 2025	―		120		―

Fiscal year ending
March 31, 2025 (Forecast)							60		―

Note:	Revision to the forecast of cash dividends most recently announced: None

The Company conducted a 2-for-1 share split for every share of common shares with the effective date of October 1, 2024.

The year-end dividend for the fiscal year ending March 2025 takes into account the impact of the aforementioned share split, and the total annual dividend is shown as "―".

If the share split is not considered, year-end dividend would be 120 yen and the total annual dividend for the fiscal year ending March 2025 would be 240 yen.

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

		Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings per share
			owners of parent


		Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Fiscal year ending	153,000		(0.9)	13,500	(2.7)	17,700	(24.0)	12,600	(24.2)	228.77
March 31, 2025


Note:	Revision to the forecast of financial results most recently announced: None

The Company conducted a 2-for-1 share split for every share of common shares with the effective date of October 1, 2024.

The forecasted basic earnings per share for the full year of the fiscal year ending March 31, 2025 takes into account the impact of the aforementioned share split.

If the share split is not considered, the forecasted basic earnings per share for the full year of the fiscal year ending March 31, 2025 would be 457.54 yen.

Notes

Significant changes in scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatement: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)

	As of December 31, 2024	56,787,734	shares

	As of March 31, 2024	57,495,334	shares

(ii) Number of treasury shares at the end of the period

	As of December 31, 2024	1,707,126	shares

	As of March 31, 2024	2,426,282	shares

(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

	Nine months ended December 31, 2024	55,075,886	shares

	Nine months ended December 31, 2023	55,734,168	shares

Note:	The Company conducted a 2-for-1 share split for every share of common shares with the effective date of October 1, 2024.
	Total number of issued shares at the end of the period (including treasury shares), Number of treasury shares at the end of the
	period, and Average number of shares outsanding during the period have been calculated assuming that the aforementioned share
	split was conducted at the beginning of the previous consolidated fiscal year.

Audit conducted by certified public accountants or an audit corporation: Yes(Autonomy)
Proper use of earnings forecasts, and other special matters
The descriptions regarding future performance and outlook contained in this document are based on certain assumptions that our company currently possesses and deems reasonable. However, they do not constitute a promise by our company to achieve those outcomes. Actual performance may vary significantly due to various factors.

Consolidated Financial Statements

・Consolidated Balance Sheets

		(Millions of yen)

	As of March 31, 2024	As of December 31, 2024

Assets
Current assets

Cash and deposits	22,215	24,122
Notes and accounts receivable - trade,	50,755	37,300
and contract assets


Electronically recorded monetary claims -	4,268	4,257
operating

Inventories	51,729	60,105

Other	5,162	6,061
Allowance for doubtful accounts	△8	△5

Total current assets	134,123	131,841
Non-current assets

Property, plant and equipment
Buildings and structures, net	23,400	23,346

Machinery, equipment and vehicles, net	19,051	18,221
Tools, furniture and fixtures, net	2,522	2,465

Land	15,024	15,024
Construction in progress	3,379	13,154

Other, net	81	67
Total property, plant and equipment	63,460	72,280

Intangible assets
Goodwill	100	77

Other	3,606	2,891
Total intangible assets	3,706	2,968

Investments and other assets
Investment securities	70,084	66,331

Retirement benefit asset	15,233	15,880
Deferred tax assets	1,797	1,710

Other	2,087	2,703
Allowance for doubtful accounts	△1	△1

Total investments and other assets	89,201	86,624
Total non-current assets	156,369	161,873

Total assets	290,492	293,714

		(Millions of yen)

	As of March 31, 2024	As of December 31, 2024

Liabilities
Current liabilities

Notes and accounts payable - trade	18,658	21,506
Electronically recorded obligations -	3,891	4,374
operating


Short-term borrowings	23,795	27,970
Income taxes payable	914	546

Provision for bonuses	6,151	1,055
Other	6,818	9,325

Total current liabilities	60,228	64,778
Non-current liabilities

Long-term borrowings	25,118	22,775
Deferred tax liabilities	11,076	12,165

Retirement benefit liability	1,283	1,264
Provision for environmental measures	422	15

Other	2,888	2,907
Total non-current liabilities	40,789	39,128

Total liabilities	101,018	103,907
Net assets

Shareholders' equity
Share capital	29,166	29,166

Capital surplus	26,099	24,823
Retained earnings	116,174	122,093

Treasury shares	△4,497	△3,190
Total shareholders' equity	166,942	172,893

Accumulated other comprehensive income
Valuation difference on available-for-	14,968	13,070
sale securities


Deferred gains or losses on hedges	30	△0
Foreign currency translation adjustment	3,559	257

Remeasurements of defined benefit plans	2,547	2,275
Total accumulated other comprehensive	21,105	15,601
income


Non-controlling interests	1,425	1,311
Total net assets	189,474	189,807

Total liabilities and net assets	290,492	293,714

・Consolidated Statements of Income

			(Millions of yen)

		Nine months ended	Nine months ended
		December 31, 2023	December 31, 2024

Net sales	105,355	107,304
Cost of sales	76,633	76,992

Gross profit	28,722	30,312
Selling, general and administrative expenses	18,947	19,113

Operating profit	9,774	11,198
Non-operating income

Interest income	44	121
Dividend income	1,156	1,324

Share of profit of entities accounted for	3,359	1,897
using equity method

Foreign exchange gains	823	359

Other	734	532
Total non-operating income	6,118	4,235

Non-operating expenses
Interest expenses	199	306

Other	406	564
Total non-operating expenses	606	870

Ordinary profit	15,286	14,563
Extraordinary income

Gain on sale of non-current assets	0	－
Gain on sale of investment securities	1,596	3,011

Other	1	201
Total extraordinary income	1,598	3,213

Extraordinary losses
Impairment losses	－	25

Disaster losses	－	138
Loss on sale of investment securities	2	9

Loss on abandonment of non-current assets	723	570
Other	94	109

Total extraordinary losses	820	853
Profit before income taxes	16,064	16,923

Income taxes - current	1,732	2,158
Income taxes - deferred	2,556	2,187

Total income taxes	4,289	4,346
Profit	11,775	12,576

Profit (loss) attributable to non-controlling	△9	38
interests

Profit attributable to owners of parent	11,784	12,538

・Consolidated Statements of Comprehensive Income

		(Millions of yen)

	Nine months ended	Nine months ended
	December 31, 2023	December 31, 2024

Profit	11,775	12,576
Other comprehensive income

Valuation difference on available-for-sale	1,799	△1,898
securities

Deferred gains or losses on hedges	2	△19

Foreign currency translation adjustment	889	25
Remeasurements of defined benefit plans, net	△109	△270
of tax


Share of other comprehensive income of	4,284	△3,399
entities accounted for using equity method

Total other comprehensive income	6,865	△5,562

Comprehensive income	18,641	7,014
Comprehensive income attributable to

Comprehensive income attributable to owners	18,558	7,034
of parent

Comprehensive income attributable to non-	83	△20
controlling interests

(Notes to Segment Information)

Information Regarding Net Sales, Profit or Loss of Reportable Segments

For the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)

(Millions of yen)

		Reportable Segment
						Total	Adjustments	Consolidated
	Chemical	Agri	Trading &	Engineer-	Eco
	*1	*2

	Materials	Business	Logistics	ing	Solutions

Net Sales
External sales	26,693	30,613	30,635	11,537	5,875	105,355	－	105,355

Intersegment sales or	9,492	44	8,046	3,539	629	21,751	(21,751)	－
reclassifications

Total	36,185	30,657	38,681	15,077	6,504	127,107	(21,751)	105,355

Segment Profit or Loss	3,541	3,867	1,719	619	(184)	9,563	211	9,774

*1 The adjustment amount for Segment Profit or Loss is due to the elimination of intersegment transactions

*2 Segment Profit or Loss is adjusted to operating income of consolidated statement of income

For the nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)

(Millions of yen)

		Reportable Segment
						Total	Adjustments	Consolidated
	Chemical	Agri	Trading &	Engineer-	Eco
	*1	*2

	Materials	Business	Logistics	ing	Solutions

Net Sales
External sales	27,254	31,180	32,291	9,621	6,956	107,304	－	107,304

Intersegment sales or	10,772	45	6,512	2,978	731	21,040	(21,040)	－
reclassifications

Total	38,026	31,225	38,804	12,600	7,688	128,344	(21,040)	107,304

Segment Profit	4,811	2,537	2,024	1,447	168	10,989	209	11,198

*1 The adjustment amount for Segment Profit is due to the elimination of intersegment transactions *2 Segment Profit is adjusted to operating income of consolidated statement of income