NAGAWA Co .,Ltd., July-September (2Q) Ordinary Profit Decreases by 5%

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Mon Oct 28, 2024 1:00 pm JST Earnings

9663 NAGAWA Co .,Ltd. 【J-GAAP】

Earnings Report

NAGAWA Co .,Ltd. <9663> [TSE-P] announced its financial results in the afternoon session on October 28th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.1% from the same period last year, reaching 2.13 billion yen. However, The progress rate against the 5.4 billion yen full-year plan was 39.6%, also falling below the five-year average of 47.0%.

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 October to March period (second half) is expected to grow by 24.1% from the same period last year, reaching 3.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 979 million yen, a 4.8% decrease compared to the same period last year. The operating profit margin decreased from 12.9% in the same period last year to 11.9%.

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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
Apr - Sep, 2022	14,414	2,042	2,289	1,603	102.0	49.0	Oct 24, 2022	J-GAAP
Apr - Sep, 2023	14,944	1,792	2,016	1,313	83.5	43.4	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	16,335	1,835	2,139	1,421	90.5	39.6	Oct 28, 2024	J-GAAP
YoY	+9.3%	+2.4%	+6.1%	+8.2%	+8.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	18,000	2,600	2,700	1,850	117.8	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	16,335	1,835	2,139	1,421	90.5	0	Oct 28, 2024	J-GAAP
Revision Rate	-9.3%	-29.4%	-20.8%	-23.2%	-23.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	17,632	2,449	2,627	1,806	114.9	60	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,665	3,365	3,261	2,279	145.1	60	Oct 28, 2024	J-GAAP
YoY	+11.5%	+37.4%	+24.1%	+26.2%	+26.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,652	4,308	4,674	3,130	199.2	60	May 15, 2023	J-GAAP
Mar, 2024	32,576	4,241	4,643	3,119	198.4	60	May 13, 2024	J-GAAP
Mar, 2025 Guidance	36,000	5,200	5,400	3,700	235.5	60	May 13, 2024	J-GAAP
YoY	+10.5%	+22.6%	+16.3%	+18.6%	+18.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,784	1,007	1,028	651	41.4	12.9	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	8,692	1,220	1,330	977	62.2	14.0	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	8,940	1,229	1,297	829	52.7	13.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	8,463	901	1,160	770	49.1	10.6	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	7,872	934	979	651	41.5	11.9	Oct 28, 2024	J-GAAP
YoY	+1.1%	-7.2%	-4.8%	0.0%	+0.1%