NEC Capital Solutions Limited, First Half Ordinary Profit Increases by 65%

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Wed Oct 30, 2024 3:30 pm JST Earnings

8793 NEC Capital Solutions Limited 【J-GAAP】

Earnings Report

NEC Capital Solutions Limited <8793> [TSE-P] announced its financial results after the market closed on October 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 5.33 billion yen, an increase of 64.7% compared to the same period last year. However, The progress rate against the 12.5 billion yen full-year plan was 42.7%, also falling below the five-year average of 57.7%.

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 16.5% from the same period last year to 7.16 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.0 times that of the same period last year, reaching 1.64 billion yen. The operating profit margin improved from 1.9% in the same period last year to 3.4%.

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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	135,673	7,462	8,608	4,411	204.9	69.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	124,010	3,741	3,240	1,944	90.3	27.4	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	123,732	4,733	5,337	3,384	157.1	42.7	Oct 30, 2024	J-GAAP
YoY	-0.2%	+26.5%	+64.7%	+74.1%	+74.0%

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	ー	ー	ー	ー	－	75	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	123,732	4,733	5,337	3,384	157.1	75	Oct 30, 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	131,847	7,953	8,578	5,090	236.4	65	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	136,268	7,267	7,163	4,616	214.3	75	Oct 30, 2024	J-GAAP
YoY	+3.4%	-8.6%	-16.5%	-9.3%	-9.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	258,107	11,715	12,440	6,418	298.1	110	Apr 28, 2023	J-GAAP
Mar, 2024	255,857	11,694	11,818	7,034	326.7	130	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	260,000	12,000	12,500	8,000	371.4	150	Apr 26, 2024	J-GAAP
YoY	+1.6%	+2.6%	+5.8%	+13.7%	+13.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	63,531	1,192	816	544	25.3	1.9	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	63,549	3,515	3,681	1,566	72.7	5.5	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	68,298	4,438	4,897	3,524	163.7	6.5	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	61,536	2,603	3,695	2,297	106.7	4.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	62,196	2,130	1,642	1,087	50.5	3.4	Oct 30, 2024	J-GAAP
YoY	-2.1%	+78.7%	+101.2%	+99.8%	+99.8%