NS Solutions Corporation, The Current Fiscal Year Net Income Revised Upward by 5%, Adds to Record High Profit Forecast

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Tue Oct 29, 2024 3:00 pm JST Earnings

2327 NS Solutions Corporation 【IFRS】

Earnings Report

NS Solutions Corporation <2327> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 29th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 28.3% from the same period last year, reaching 12.1 billion yen, exceeded the previous forecast of 10.5 billion yen.

In addition, the full-year consolidated net income has been revised upward by 5.2%, from the previous forecast of 25.2 billion yen to 26.5 billion yen (compared to 24.2 billion yen in the previous period), increasing the growth rate from 4.0% to 9.3%, further surpassing the previous forecast of record-high profits for four consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 2.9% from the same period last year to 14.3 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 67 yen to 73 yen (compared to 85 yen before the 1-to-2 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 24.2% from the same period last year, reaching 6.8 billion yen. The operating profit margin rose from 10.6% in the same period last year to 11.7%.

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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
Apr - Sep, 2022	134,685	14,004	14,236	9,397	51.4	44.3	Oct 27, 2022	IFRS
Apr - Sep, 2023	144,774	14,642	15,012	9,500	51.9	42.4	Oct 27, 2023	IFRS
Apr - Sep, 2024	156,612	18,125	18,157	12,186	66.6	46.0	Oct 29, 2024	IFRS
YoY	+8.2%	+23.8%	+20.9%	+28.3%	+28.3%

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	153,000	16,000	16,200	10,500	57.4	33.50	Jul 30, 2024	IFRS
Apr - Sep, 2024 Results	156,612	18,125	18,157	12,186	66.6	36.50	Oct 29, 2024	IFRS
Revision Rate	+2.4%	+13.3%	+12.1%	+16.1%	+16.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	330,000	37,000	37,500	25,200	137.7	67	Jul 30, 2024	IFRS
Mar, 2025 New	333,000	39,000	39,500	26,500	144.8	73	Oct 29, 2024	IFRS
Revision Rate	+0.9%	+5.4%	+5.3%	+5.2%	+5.2%

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	165,858	20,359	20,425	14,741	80.6	22.50	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	176,388	20,875	21,343	14,314	78.2	36.50	Oct 29, 2024	IFRS
YoY	+6.3%	+2.5%	+4.5%	-2.9%	-2.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	291,688	31,738	32,101	22,000	120.2	37.50	Apr 28, 2023	IFRS
Mar, 2024	310,632	35,001	35,437	24,241	132.5	42.50	Apr 26, 2024	IFRS
Mar, 2025 Guidance	333,000	39,000	39,500	26,500	144.8	73	Oct 29, 2024	IFRS
YoY	+7.2%	+11.4%	+11.5%	+9.3%	+9.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	76,001	8,061	8,137	5,478	29.9	10.6	Oct 27, 2023	IFRS
Oct - Dec, 2023	75,345	8,653	8,694	5,983	32.7	11.5	Feb 2, 2024	IFRS
Jan - Mar, 2024	90,513	11,706	11,731	8,758	47.9	12.9	Apr 26, 2024	IFRS
Apr - Jun, 2024	76,826	8,815	9,021	5,381	29.4	11.5	Jul 30, 2024	IFRS
Jul - Sep, 2024	79,786	9,310	9,136	6,805	37.2	11.7	Oct 29, 2024	IFRS
YoY	+5.0%	+15.5%	+12.3%	+24.2%	+24.2%