NIHON DECOLUXE CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 1%Decrease

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Tue Oct 29, 2024 3:20 pm JST Earnings

7950 NIHON DECOLUXE CO.,LTD. 【J-GAAP】

Earnings Report

NIHON DECOLUXE CO.,LTD. <7950> [NSE-M] announced its financial results in the afternoon session on October 29th (15:20). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 346 million yen, a 0.6% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 0.6% increase.

However, The progress rate against the 660 million yen full-year plan was 52.4%, also surpassing the five-year average of 48.2%.

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 decrease by 15.4% from the same period last year to 314 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit decreased to 152 million yen, a 16.0% decrease compared to the same period last year. The operating profit margin decreased from 11.7% in the same period last year to 9.3%.

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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	2,499	176	261	392	495.5	51.4	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	3,080	342	348	240	303.9	48.4	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	3,028	318	346	239	302.4	52.4	Oct 29, 2024	J-GAAP
YoY	-1.7%	-7.0%	-0.6%	-0.4%	-0.5%

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	3,100	320	350	240	302.9	150	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	3,028	318	346	239	302.4	150	Oct 29, 2024	J-GAAP
Revision Rate	-2.3%	-0.6%	-1.1%	-0.4%	-0.1%

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	3,199	348	371	283	357.4	220	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,272	282	314	211	266.3	220	Oct 29, 2024	J-GAAP
YoY	+2.3%	-19.0%	-15.4%	-25.4%	-25.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	5,633	419	508	576	727.0	370	May 12, 2023	J-GAAP
Mar, 2024	6,279	690	719	523	660.5	370	May 10, 2024	J-GAAP
Mar, 2025 Guidance	6,300	600	660	450	567.9	370	May 10, 2024	J-GAAP
YoY	+0.3%	-13.0%	-8.2%	-14.0%	-14.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,563	183	181	125	158.3	11.7	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	1,668	276	293	203	256.7	16.5	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	1,531	72	78	80	101.0	4.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,484	174	194	134	169.5	11.7	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	1,544	144	152	105	132.9	9.3	Oct 29, 2024	J-GAAP
YoY	-1.2%	-21.3%	-16.0%	-16.0%	-16.1%