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

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 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%

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