The operating profit of the company declined by 17.7 per cent YoY to reach ¥1,422 million (~$9.08 million) in 9M 2024. Non-operating income increased to ¥167 million, driven by higher dividend income-operating of profit from equity-method entities, offsetting slightly higher non-operating expenses of ¥92 million. The ordinary profit of the company stood at ¥1,497 million, a decline of 15.6 per cent YoY, Sanyo Shokai said in a press release.
Sanyo Shokai Ltd has reported net sales of ¥43,525 million (~$277.7 million) for the 9M 2024, down by 2.4 per cent YoY.
The operating profit fell 17.7 per cent to ¥1,422 million (~$9.08 million), and ordinary profit dropped 15.6 per cent.
Earnings per share declined to ¥103.45 (~$0.66).
For full year, the company forecasts a 0.6 per cent drop in sales to ¥61,000 million (~$389.45 million).
Extraordinary income fell to ¥1 million, while extraordinary losses increased to ¥85 million due to litigation settlements and cancellation penalties. Profit before income taxes decreased to ¥1,414 million, with total income taxes rising to ¥214 million. The company’s earnings per share in 9M period stood at ¥103.45 (~$0.66), compared to ¥145.41 (~$0.93) in 9M last year.
Comprehensive income for the period dropped to ¥906 million from ¥3,210 million in the same period a year prior. Comprehensive income attributable to owners of the parent decreased to ¥906 million, while the non-controlling interests’ share remained stable at ¥1 million.
For the full year ending February 28, 2025, Sanyo Shokai expects a slight decline in net sales by 0.6 per cent YoY to ¥61,000 million (~$389.45 million). The operating profit is expected to decrease by 11.4 per cent YoY to ¥2,700 million, and ordinary profit is projected to fall by 12.1 per cent YoY to ¥2,800 million.
Fibre2Fashion News Desk (SG)
