NISSEN INC., June-August (2Q) Ordinary Profit Decreases by 32%

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Fri Oct 11, 2024 3:00 pm JST Earnings

6543 NISSEN INC. 【J-GAAP】

Earnings Report

NISSEN INC. <6543> [TSE-S] announced its financial results after the market closed on October 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) surged by 2.2 times that of the same period last year, reaching 159 million yen, exceeded the previous forecast of 130 million yen.

The progress rate against the 315 million yen full-year plan was 50.5%, almost the same as the five-year average of 48.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 26.8% from the same period last year to 156 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit dropped to 40 million yen, a 32.2% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.4% in the same period last year to 3.1%.

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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	2,515	162	158	106	28.8	45.8	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	2,501	81	72	53	14.2	25.3	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	2,638	154	159	77	20.3	50.5	Oct 11, 2024	J-GAAP
YoY	+5.5%	+90.1%	+120.8%	+45.3%	+43.5%

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	2,700	140	130	89	23.3	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	2,638	154	159	77	20.3	0	Oct 11, 2024	J-GAAP
Revision Rate	-2.3%	+10.0%	+22.3%	-13.5%	-12.9%

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	2,723	219	213	144	38.2	26	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	3,362	166	156	138	36.2	27	Oct 11, 2024	J-GAAP
YoY	+23.5%	-24.2%	-26.8%	-4.2%	-5.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	5,058	320	345	244	65.5	21	Apr 12, 2023	J-GAAP
Feb, 2024	5,224	300	285	197	52.2	26	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	6,000	320	315	215	56.4	27	Apr 12, 2024	J-GAAP
YoY	+14.9%	+6.7%	+10.5%	+9.1%	+7.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	1,288	44	59	39	10.4	3.4	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	1,384	118	116	79	20.9	8.5	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,339	101	97	65	17.2	7.5	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,463	117	119	81	21.6	8.0	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	1,175	37	40	-4	-1.1	3.1	Oct 11, 2024	J-GAAP
YoY	-8.8%	-15.9%	-32.2%	－	－