Summary of Consolidated Financial Statements for 3Q of Fiscal Year Ending March 31, 2025(Japan GAAP)

Feb 14, 2025 at 7:20 AM UTC · Issued by Ishihara Sangyo Kaisha, Ltd.

Summary of Consolidated Financial Statements

for Third Quarter of Fiscal Year Ending March 31, 2025(Japan GAAP)

				February 12, 2025
				Listed Exchanges: TSE
Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.
Code:	4028	URL https://www.iskweb.co.jp/
Representative:	(Title) Executive Director President	(Name) Hiroshi Okubo
Contact:	(Title) Director		(Name) Yasunobu Kawazoe	Tel +81-6-6444-1850

Scheduled date of dividend payment: -

Supplementary materials for financial results: None

Holding of financial results presentation: None

(Any amount less than one million yen is rounded down to the nearest million yen or nil.)

1. Consolidated Financial Results for Third Quarter of Fiscal Year Ended March 31,2025(April 1,2024 to December 31, 2024)

Consolidated Operating Results

(Percentages represent changes from same period in previous year.)

Net sales

Operating income

Ordinary income

Net income

millions of yen

3Q, 2024

105,422

7.0

3,834

54.4

5,631

6.6

1,799

-36.7

3Q, 2023

98,503

4.6

2,483

-34.8

5,280

-4.2

2,841

-5.7

(Note) Comprehensive income:

As of December 31, 2024: 1,753 million yen (-67.1%)

As of December 31,2023: 5,326 million yen (0.2%)

Net income per share

Net income per share after full dilution

Yen

3Q, 2024

47.08

⎯

3Q, 2023

74.44

⎯

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

millions of yen

Millions of yen

3Q, 2024

219.145

105.291

48.0

Year ended March 31, 2024

224.324

106.116

47.3

(Reference) Equity capital:

As of December 31, 2024: 105,200 million yen

As of March 31, 2024: 106,068 million yen

2. Dividends

Dividends per share

(Record date)

June 30

September 30

December 31

March 31

Annual

(Q1-end)

(Q2-end)

(Q3-end)

(Year-end)

Yen

Year ended March 31, 2024

⎯

0.00

⎯

70.00

Year ended March 31, 2025

⎯

0.00

⎯

Year ending March 31, 2025

85.00

(Forecast)

(Note) 1. Modification in the dividend forecast for current quarter: Yes

3. Forecast for Consolidated Results for the Full Year Ending March 31, 2025 (April 1, 2024 - March 31, 2025)

(Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.)

	Net sales	Operating income	Ordinary income	Net income		Earnings per share

	millions	%	millions	%	millions		%	millions	%	Yen
	of yen	of yen	of yen		of yen


Full year	148,000	6.9	10,000	-13.0	9,500		-36.0	6,000	-24.9	156.98

(Note) Modification in the dividend forecast for current quarter: No modification

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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4. Other information

(1) Significant changes in subsidiaries during the period

: None

Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: None
Changes in accounting principles, procedures, and the method of presentation

1) Changes due to revisions of accounting standards etc.	: Yes
2)	Changes other than those defined in 1) above	: None
3)	Changes in accounting procedures	: None
4)	Changes in the method of presentation	: None
(4) Issued shares (common shares)
1)	Issued shares as of period-end (including repurchased treasury shares)
	As of December 31, 2024: 40,383,943 shares	As of March 31, 2024: 40,383,943 shares
2)	Number of shares of treasury stock as of period-end
	As of December 31, 2024: 2,122,614 shares	As of March 31, 2024: 2,186,519 shares
3) Average number of outstanding shares during period
	As of December 31, 2024: 38,226,180 shares	As of December 31, 2023: 38,165,795 shares

Review of the Japanese-language originals of the attached quarterly consolidated statement by certified public accountants or an audit firm: None

*Notes on proper use of forecast and other matters

The forecast of financial results presented in this document is the result of management's assessment based upon currently available assumptions, prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as the global economy, competition, and foreign currency fluctuations.

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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5. Consolidated Financial Statements

(1) Consolidated Balance Sheet

		(Unit: millions of yen)
Account Category	As of March 31, 2024	As of December 31, 2024
(summary)


Assets
Current assets
Cash and deposits	19,982	23,377
Notes and accounts receivable-trade and contract assets	42,859	35,676
Electronically recorded monetary claims - operating	1,617	1,908
Merchandise and finished goods	52,371	48,209
Work in process	8,132	9,159
Raw materials and supplies	30,871	29,121
Other	5,640	5,123
Allowance for doubtful accounts	-302	-290

Total current assets	161,173	152,285
Non-current assets

Property, plant and equipment
Machinery equipment, net	12,913	12,393
Others, net	28,646	33,121

Total property, plant and equipment	41,560	45,514

Intangible assets	2,052	1,971
Investments and other assets
Investment securities	9,648	11,427
Deferred tax assets	7,630	4,873
Net defined benefit asset	29	34
Other	2,281	3,091
Allowance for doubtful accounts	-52	-52

Total investments and other assets	19,537	19,373

Total non-current assets	63,150	66,860

Total assets	224,324	219,145

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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		(Unit: millions of yen)
Account Category	As of March 31, 2024	As of December 31, 2024
(summary)


Liabilities
Current liabilities
Notes and accounts payable - trade	20,974	18,895
Electronically recorded obligations - operating	1,979	2,463
Short-term loans payable	15,280	19,474
Currents portion of bonds	968	728
Accrued income taxes	1,439	154
Provision	1,324	834
Other	11,090	12,216
Total current liabilities
53,056	54,767
Long-term liabilities

Bonds payable	1,991	1,627
Long-term loans payable	47,839	42,446
Provision for environment and safety improvement	195	－
Other provision	－	27
Net defined benefit liability	12,007	11,855
Other	3,116	3,129
Total long-term liabilities
65,150	59,087
Total Liabilities
118,207	113,854
Net assets

Shareholder's equity
Capital stock	43,420	43,420
Capital surplus	10,672	10,705
Retained earnings	50,489	49,615
Treasury shares	-2,653	-2,590
Total shareholders' equity
101,928	101,150
Accumulated other comprehensive income

Valuation difference on available-for-sale securities	817	741
Foreign currency translation adjustment	2,989	3,138
Remeasurements of defined benefit plans	333	170
Total accumulated other comprehensive income
4,139	4,050
Non-controlling interests
48	90
Total net assets
106,116	105,291
Total liabilities and net assets
224,324	219,145

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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(2) Consolidated Statements of Income

		(Unit: millions of yen)
	Q3 2023	Q3 2024
Account Category	(April 1,2023 to	(April 1,2024 to
	December 31, 2023)	December 31, 2024

Net sales	98,503	105,422
Cost of sales	76,969	80,121

Gross profit	21,534	25,301

Selling, general and administrative expenses	19,050	21,467

Operating income	2,483	3,834
Non-operating income

Interest income	105	181
Dividend income	219	228
Equity in earnings of affiliates	985	1,506
Foreign exchange gains	1,553	676
Reversal of allowance for environment and safety improvement	660	－
Gain on sales of raw materials	145	91
Other	200	236

Total non-operating income	3,868	2,921
Non-operating expenses

Interest expenses	435	541
Financial fee	449	340
Other	186	241

Total non-operating expenses	1,071	1,123

Ordinary income	5,280	5,631
Extraordinary income

Gain on sale of non-current assets	39	－
Gain on sale of investment securities	47	47

Total extraordinary income	87	47
Extraordinary loss

Impairment losses	－	102
Loss on disposal of non-current assets	362	364

Total extraordinary losses	362	466

Income before income taxes and minority interests	5,006	5,211

Income taxes-current	444	548
Income taxes - deferred	1,710	2,821

Total income taxes	2,155	3,370

Net income	2,850	1,841

Profit attributable to non-controlling interests	8	41

Profit attributable to owners of parent	2,841	1,799

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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		(Unit: millions of yen)
	Q3 2023	Q3 2024
Account Category	(April 1,2023 to	(April 1,2024 to
	December 31, 2023)	December 31, 2024)

Net income	2,850	1,841
Other comprehensive income
Valuation difference on available-for-sale securities	220	-75
Foreign currency translation adjustment	1,830	136
Remeasurements of defined benefit plans	44	-162
Share of other comprehensive income of entities accounted	380	13
for using equity method


Total other comprehensive income	2,476	-88

Comprehensive income	5,326	1,753
(Comprehensive income attributable to)

Comprehensive income attributable to owners of parent	5,317	1,711
Comprehensive income attributable to non-controlling interests	8	41

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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6. Segment Information

【Business Segment Information】

3Q of Fiscal Year Ended March 31, 2024 (April 1,2023 to December 31, 2023)

(1) Information relating sales, profits, losses, for each reporting unit

(Unit: millions of yen)

	Organic	Inorganic	Other	Total	Elimination/	Consolidated
	Chemicals	Chemicals	Businesses	Corporate


Sales
(1) Sales to external	45,771	50,445	2,286	98,503	⎯	98,503
customers
(2) Intersegment sales and	0	⎯	2,882	2,882	-2,882	⎯
transfers
Total	45,771	50,445	5,168	101,386	-2,882	98,503

Segment profit	3,880	856	117	4,854	-2,371	2,483

(Note) 1. Adjustment include the following items

1. Adjustment in segment profit (-￥2,371 million) includes elimination of transaction between segments (￥128million) and corporate expenses not allocated to reporting segments(-￥2,499million). Corporate expenses mainly comprise general expenses not allocated segments.
2. Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated income statement.
Geographical information

Net Sales					(Unit: millions of yen)
Japan	Asia	America	Europe	Other		Total
41,689	18,903	18,106	19,072		730	98,503

(Note) 1. Net sales by geographic segment are based on nations or regions where customers reside.

2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are follows, excluding Japan:

(1) Asia	: China, Taiwan, South Korea, Thailand, Indonesia, Singapore and India
(2) Americas : United States of America, Canada, Brazil, Argentina, and Mexico
(3)	Europe	: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and East Europe and Middle East regions
(4)	Other	: Australia, New Zealand and Africa

Information concerning impairment loss or goodwill on non-current assets by segment We do not note significant changes.

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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【Business Segment Information】

3Q of Fiscal Year Ended March 31, 2025(April 1,2024 to December31, 2024)

Information relating sales, profits, losses, for each reporting unit

						(Unit: millions of yen)
	Organic	Inorganic	Other			Amount reported on
	Total	Adjustment	consolidated financial
	Chemicals	Chemicals	Businesses
			statements


Sales
(1) Sales to external	48,315	53,847	3,259	105,422	⎯	105,422
customers
(2) Intersegment sales	0	⎯	3,164	3,164	-3,164	⎯
and transfers
Total	48,315	53,847	6,423	108,587	-3,164	105,422

Segment profit	4,385	1,941	515	6,842	-3,008	3,834

(Note) 1. Adjustment include the following items

1. Adjustment in segment profit (-￥3,008 million) includes elimination of transaction between segments (￥58million) and corporate expenses not allocated to reporting segments(-￥3,066 million). Corporate expenses mainly comprise general expenses not allocated segments.
2. Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated income statement.
Geographical information

Net Sales					(Unit: millions of yen)
Japan	Asia	America	Europe	Other		Total
40,507	23,551	18,537	21,089		1,736	105,422

(Note) 1. Net sales by geographic segment are based on nations or regions where customers reside.

2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are follows, excluding Japan:

(1) Asia	: China, Taiwan, South Korea, Thailand, Indonesia, Singapore, and India
(2) Americas : United States of America, Canada, Brazil, Argentina, and Mexico
(3)	Europe	: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and East Europe and Middle East regions
(4)	Other	: Australia, New Zealand and Africa

Information concerning impairment loss or goodwill on non-current assets by segment We do not note significant changes.

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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(Notes related to statement of cash flows)

The Group has not prepared a quarterly consolidated statement of cash flows for the nine months of the fiscal year under review.

Depreciation and other amortization (including amortization of intangible assets) for the nine months of the fiscal year under review is as follows:

	Nine months ended December 31, 2023	Nine months ended December 31, 2024
	Millions of yen	Millions of yen
Depreciation and other amortization	4,033	3,676

This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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