Nankai Tatsumura Construction Co., Ltd., First Half Ordinary Profit Increases by 4.7 times, July-September Ordinary Profit Increases by 3.0 times

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Tue Oct 29, 2024 4:00 pm JST Earnings

1850 Nankai Tatsumura Construction Co., Ltd. 【J-GAAP】

Earnings Report

Nankai Tatsumura Construction Co., Ltd. <1850> [TSE-S] announced its financial results after the market closed on October 29th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 4.7 times that of the same period last year, reaching 644 million yen. However, The progress rate against the 2.05 billion yen full-year plan was 31.4%, almost the same as the five-year average of 29.7%.

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 decrease by 5.5% from the same period last year to 1.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 3.0 times that of the same period last year, reaching 303 million yen. The operating profit margin improved from 1.0% in the same period last year to 2.5%.

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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	19,167	1,028	1,027	817	28.4	56.3	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	21,911	189	137	88	3.1	8.4	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	23,011	657	644	432	15.0	31.4	Oct 29, 2024	J-GAAP
YoY	+5.0%	+247.6%	+370.1%	+390.9%	+385.1%

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	23,400	650	600	380	13.2	－	Sep 27, 2024	J-GAAP
Apr - Sep, 2024 Results	23,011	657	644	432	15.0	－	Oct 29, 2024	J-GAAP
Revision Rate	-1.7%	+1.1%	+7.3%	+13.7%	+13.7%

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	21,715	1,497	1,488	1,012	35.1	4	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,089	1,443	1,406	988	34.3	4	Oct 29, 2024	J-GAAP
YoY	+29.4%	-3.6%	-5.5%	-2.4%	-2.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	42,401	1,844	1,824	1,896	65.8	3	Apr 27, 2023	J-GAAP
Mar, 2024	43,626	1,686	1,625	1,100	38.2	4	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	51,100	2,100	2,050	1,420	49.3	4	Apr 26, 2024	J-GAAP
YoY	+17.1%	+24.6%	+26.2%	+29.1%	+29.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,438	110	100	55	1.9	1.0	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	10,361	634	635	431	15.0	6.1	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	11,354	863	853	581	20.2	7.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	10,545	342	341	229	8.0	3.2	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	12,466	315	303	203	7.0	2.5	Oct 29, 2024	J-GAAP
YoY	+9.0%	+186.4%	+203.0%	+269.1%	+264.8%