NIHON KOGYO CO., LTD., First Half Ordinary Profit Revised Downward to a Loss

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Mon Oct 28, 2024 4:30 pm JST Earnings

5279 NIHON KOGYO CO., LTD. 【J-GAAP】

Earnings Report

NIHON KOGYO CO., LTD. <5279> [TSE-S] announced its financial results after the market closed on October 28th (16:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 60 million yen (compared to a profit of 81 million yen in the same period last year), reversing from the forecast of a 70 million yen to a loss

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 expand by 38.4% from the same period last year, reaching 530 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 23 million yen (compared to a profit of 28 million yen in the same period last year). The operating profit/loss margin worsened from 0.6% in the same period last year to -1.0%.

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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	4,644	-45	-23	-25	-8.8	ー	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	5,920	56	81	32	11.3	17.5	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	5,670	-89	-60	-63	-21.9	ー	Oct 28, 2024	J-GAAP
YoY	-4.2%	－	－	－	－

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	6,000	55	70	35	12.1	0	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	5,670	-89	-60	-63	-21.9	0	Oct 28, 2024	J-GAAP
Revision Rate	-5.5%	－	－	－	－

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	7,753	358	383	263	90.9	30	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,030	519	530	363	125.0	30	Oct 28, 2024	J-GAAP
YoY	+3.6%	+45.0%	+38.4%	+38.0%	+37.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,336	280	323	198	68.6	25	Apr 28, 2023	J-GAAP
Mar, 2024	13,673	414	464	295	101.9	30	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	13,700	430	470	300	103.3	30	Apr 30, 2024	J-GAAP
YoY	+0.2%	+3.9%	+1.3%	+1.7%	+1.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,053	19	28	18	6.4	0.6	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	3,361	89	105	59	20.6	2.6	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	4,392	269	278	204	70.5	6.1	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	2,801	-61	-37	-48	-16.6	-2.2	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	2,869	-28	-23	-15	-5.2	-1.0	Oct 28, 2024	J-GAAP
YoY	-6.0%	－	－	－	－