Nippon Seisen Co., Ltd., First Half Ordinary Profit Increases by 34%, July-September Ordinary Profit Increases by 50%

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Tue Oct 29, 2024 3:40 pm JST Earnings

5659 Nippon Seisen Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Seisen Co., Ltd. <5659> [TSE-P] announced its financial results after the market closed on October 29th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.34 billion yen, an increase of 34.4% compared to the same period last year. However, The progress rate against the 4.9 billion yen full-year plan was 47.8%, almost the same as the five-year average of 45.6%.

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 30.8% from the same period last year, reaching 2.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 50.0% from the same period last year, reaching 1.13 billion yen. The operating profit margin significantly improved from 6.6% in the same period last year to 9.7%.

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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	24,712	1,942	2,039	1,416	46.2	47.2	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	21,755	1,625	1,742	1,221	39.9	47.1	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	23,371	2,318	2,341	1,609	52.5	47.8	Oct 29, 2024	J-GAAP
YoY	+7.4%	+42.6%	+34.4%	+31.8%	+31.7%

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	23,300	2,400	2,400	1,680	54.8	28	Sep 27, 2024	J-GAAP
Apr - Sep, 2024 Results	23,371	2,318	2,341	1,609	52.5	28	Oct 29, 2024	J-GAAP
Revision Rate	+0.3%	-3.4%	-2.5%	-4.2%	-4.2%

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	22,972	1,912	1,957	1,371	44.7	21	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	24,329	2,582	2,559	1,821	59.4	28	Oct 29, 2024	J-GAAP
YoY	+5.9%	+35.0%	+30.8%	+32.8%	+32.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	49,055	4,179	4,317	3,086	100.7	42	Apr 27, 2023	J-GAAP
Mar, 2024	44,727	3,537	3,699	2,592	84.5	42	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	47,700	4,900	4,900	3,430	111.8	56	Sep 27, 2024	J-GAAP
YoY	+6.6%	+38.5%	+32.5%	+32.3%	+32.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,943	725	758	529	17.3	6.6	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	11,388	687	720	491	16.0	6.0	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	11,584	1,225	1,237	880	28.7	10.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	11,542	1,166	1,204	827	27.0	10.1	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	11,829	1,152	1,137	782	25.5	9.7	Oct 29, 2024	J-GAAP
YoY	+8.1%	+58.9%	+50.0%	+47.8%	+47.8%