NICHIRYO BAKING CO.,LTD., First Half Ordinary Profit Decreases by 16%

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Tue Oct 29, 2024 3:00 pm JST Earnings

2218 NICHIRYO BAKING CO.,LTD. 【J-GAAP】

Earnings Report

NICHIRYO BAKING CO.,LTD. <2218> [SapporoSE] announced its financial results in the afternoon session on October 29th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.7% from the same period last year to 188 million yen. The progress rate against the 300 million yen full-year plan was 62.7%, below the five-year average of 67.2%.

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 October to March period (second half) is expected to expand by 69.7% from the same period last year, reaching 112 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 13.6% from the same period last year, reaching 142 million yen. The operating profit margin remained almost flat, changing from 2.7% in the same period last year to 3.0%.

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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	8,631	127	155	98	46.9	66.8	Oct 25, 2022	J-GAAP
Apr - Sep, 2023	8,897	215	223	145	69.6	77.2	Oct 24, 2023	J-GAAP
Apr - Sep, 2024	9,115	182	188	118	56.7	62.7	Oct 29, 2024	J-GAAP
YoY	+2.5%	-15.3%	-15.7%	-18.6%	-18.6%

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	ー	ー	ー	ー	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	9,115	182	188	118	56.7	－	Oct 29, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	9,089	59	66	62	29.7	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,385	118	112	62	29.6	15	Oct 29, 2024	J-GAAP
YoY	+3.3%	+100.0%	+69.7%	0.0%	-0.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,390	187	232	53	25.7	15	Jul 28, 2023	J-GAAP
Mar, 2024	17,986	274	289	207	99.0	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	18,500	300	300	180	86.0	15	May 14, 2024	J-GAAP
YoY	+2.9%	+9.5%	+3.8%	-13.0%	-13.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,600	126	125	82	39.4	2.7	Oct 24, 2023	J-GAAP
Oct - Dec, 2023	4,657	62	70	41	19.6	1.3	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	4,432	-3	-4	21	10.0	-0.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,376	38	46	31	15.3	0.9	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	4,739	144	142	87	41.8	3.0	Oct 29, 2024	J-GAAP
YoY	+3.0%	+14.3%	+13.6%	+6.1%	+6.1%