NISHIMATSUYA CHAIN Co., Ltd., June-August (2Q) Ordinary Profit Decreases by 12%, Current Fiscal Year Dividend Revised Upward by 1 yen

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Wed Oct 2, 2024 3:30 pm JST Earnings

7545 NISHIMATSUYA CHAIN Co., Ltd. 【J-GAAP】

Earnings Report

NISHIMATSUYA CHAIN Co., Ltd. <7545> [TSE-P] announced its financial results after the market closed on October 2nd (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was 7.2 billion yen, a 1.0% increase compared to the same period last year. The progress rate against the 14 billion yen full-year plan was 51.5%, it was below the five-year average of 65.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to grow by 24.5% from the same period last year, reaching 6.79 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 29 yen to 30 yen (compared to 29 yen in the previous period).

In the most recent three-month period, from June to August (2Q), the ordinary profit decreased to 2.08 billion yen, a 11.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 5.0% in the same period last year to 4.7%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	84,478	6,696	7,202	4,650	76.8	62.2	Sep 28, 2022	J-GAAP
Mar - Aug, 2023	88,473	6,739	7,130	4,762	79.3	56.6	Sep 27, 2023	J-GAAP
Mar - Aug, 2024	93,515	7,024	7,203	4,749	79.1	51.4	Oct 2, 2024	J-GAAP
YoY	+5.7%	+4.2%	+1.0%	-0.3%	-0.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	93,689	7,187	7,400	4,973	82.9	14	Apr 3, 2024	J-GAAP
Mar - Aug, 2024 Results	93,515	7,024	7,203	4,749	79.1	15	Oct 2, 2024	J-GAAP
Revision Rate	-0.2%	-2.3%	-2.7%	-4.5%	-4.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	188,000	13,600	14,000	9,384	156.4	29	Apr 3, 2024	J-GAAP
Feb, 2025 New	188,000	13,600	14,000	9,384	156.4	30	Oct 2, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	88,715	5,187	5,458	3,440	57.3	15	Apr 3, 2024	J-GAAP
Sep - Feb, 2024 Guidance	94,485	6,576	6,797	4,635	77.2	15	Oct 2, 2024	J-GAAP
YoY	+6.5%	+26.8%	+24.5%	+34.7%	+34.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	169,524	10,933	11,588	7,640	126.5	26	Apr 5, 2023	J-GAAP
Feb, 2024	177,188	11,926	12,588	8,202	136.7	29	Apr 3, 2024	J-GAAP
Feb, 2025 Guidance	188,000	13,600	14,000	9,384	156.4	30	Oct 2, 2024	J-GAAP
YoY	+6.1%	+14.0%	+11.2%	+14.4%	+14.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	41,666	2,099	2,359	1,550	25.8	5.0	Sep 27, 2023	J-GAAP
Sep - Nov, 2023	47,700	4,082	4,234	2,809	46.8	8.6	Dec 15, 2023	J-GAAP
Dec - Feb, 2023	41,015	1,105	1,224	631	10.5	2.7	Apr 3, 2024	J-GAAP
Mar - May, 2024	49,746	4,950	5,121	3,450	57.5	10.0	Jun 14, 2024	J-GAAP
Jun - Aug, 2024	43,769	2,074	2,082	1,299	21.6	4.7	Oct 2, 2024	J-GAAP
YoY	+5.0%	-1.2%	-11.7%	-16.2%	-16.2%