NF HOLDINGS CORPORATION, First Half Ordinary Profit Decreases by 54%, July-September Ordinary Profit Decreases by 48%

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Wed Oct 30, 2024 3:15 pm JST Earnings

6864 NF HOLDINGS CORPORATION 【J-GAAP】

Earnings Report

NF HOLDINGS CORPORATION <6864> [TSE-S] announced its financial results after the market closed on October 30th (15:15). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 54.0% from the same period last year to 220 million yen. The progress rate against the 520 million yen full-year plan was 42.3%, also falling below the five-year average of 47.1%.

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 surge by 50 times that of the same period last year, reaching 300 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 150 million yen, a 48.5% decrease compared to the same period last year. The operating profit margin worsened from 9.5% in the same period last year to 6.8%.

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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	4,188	93	164	123	17.7	26.4	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	5,356	449	478	313	44.7	98.8	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	4,089	202	220	310	44.3	42.3	Oct 30, 2024	J-GAAP
YoY	-23.7%	-55.0%	-54.0%	-1.0%	-1.0%

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	4,085	200	215	305	43.5	0	Oct 24, 2024	J-GAAP
Apr - Sep, 2024 Results	4,089	202	220	310	44.3	0	Oct 30, 2024	J-GAAP
Revision Rate	+0.1%	+1.0%	+2.3%	+1.6%	+1.9%

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	4,043	-31	6	10	1.4	32	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,411	298	300	50	7.1	32	Oct 30, 2024	J-GAAP
YoY	+33.8%	－	+4,900.0%	+400.0%	+397.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,642	467	622	457	65.1	30	May 12, 2023	J-GAAP
Mar, 2024	9,399	418	484	323	46.1	32	May 14, 2024	J-GAAP
Mar, 2025 Guidance	9,500	500	520	360	51.3	32	May 14, 2024	J-GAAP
YoY	+1.1%	+19.6%	+7.4%	+11.5%	+11.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,998	284	291	175	25.0	9.5	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	1,504	-111	-85	-32	-4.6	-7.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	2,539	80	91	42	6.0	3.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,878	52	70	188	26.9	2.8	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	2,211	150	150	122	17.4	6.8	Oct 30, 2024	J-GAAP
YoY	-26.3%	-47.2%	-48.5%	-30.3%	-30.3%