NISSHIN SEIFUN GROUP INC., The Current Fiscal Year Net Income Revised Upward by 3%, Adds to Record High Profit Forecast, Dividend Revised Upward by 5 yen

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Wed Oct 30, 2024 3:30 pm JST Earnings

2002 NISSHIN SEIFUN GROUP INC. 【J-GAAP】

Earnings Report

NISSHIN SEIFUN GROUP INC. <2002> [TSE-P] announced its financial results after the market closed on October 30th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 10.4% from the same period last year, reaching 20.3 billion yen.

In addition, the full-year consolidated net income has been revised upward by 2.6%, from the previous forecast of 38 billion yen to 39 billion yen (compared to 31.7 billion yen in the previous period), increasing the growth rate from 19.7% to 22.9%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 40.2% from the same period last year, reaching 18.6 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 55 yen (compared to 45 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 9.51 billion yen, a 1.9% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 5.9%.

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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	388,742	15,919	17,220	-37,795	-127.1	52.1	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	426,881	25,511	26,511	18,446	62.0	53.0	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	429,513	26,010	27,076	20,363	68.5	51.1	Oct 30, 2024	J-GAAP
YoY	+0.6%	+2.0%	+2.1%	+10.4%	+10.4%

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	430,000	25,500	26,500	20,000	67.2	25	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	429,513	26,010	27,076	20,363	68.5	25	Oct 30, 2024	J-GAAP
Revision Rate	-0.1%	+2.0%	+2.2%	+1.8%	+1.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	870,000	51,000	53,000	38,000	127.8	50	Jul 31, 2024	J-GAAP
Mar, 2025 New	870,000	51,000	53,000	39,000	131.2	55	Oct 30, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+2.6%	+2.6%

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	431,367	22,280	23,481	13,297	44.7	24	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	440,487	24,990	25,924	18,637	62.7	30	Oct 30, 2024	J-GAAP
YoY	+2.1%	+12.2%	+10.4%	+40.2%	+40.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	798,681	32,831	33,051	-10,381	-34.9	40	May 10, 2023	J-GAAP
Mar, 2024	858,248	47,791	49,992	31,743	106.7	45	May 15, 2024	J-GAAP
Mar, 2025 Guidance	870,000	51,000	53,000	39,000	131.2	55	Oct 30, 2024	J-GAAP
YoY	+1.4%	+6.7%	+6.0%	+22.9%	+22.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	218,690	13,651	13,412	9,704	32.6	6.2	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	223,800	16,383	16,810	11,071	37.2	7.3	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	207,567	5,897	6,671	2,226	7.5	2.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	213,874	13,220	14,516	10,845	36.5	6.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	215,639	12,790	12,560	9,518	32.0	5.9	Oct 30, 2024	J-GAAP
YoY	-1.4%	-6.3%	-6.4%	-1.9%	-1.9%