NIHON SHOKUHIN KAKO CO., LTD., First Half Ordinary Profit Decreases by 38%

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Thu Oct 31, 2024 12:30 pm JST Earnings

2892 NIHON SHOKUHIN KAKO CO., LTD. 【J-GAAP】

Earnings Report

NIHON SHOKUHIN KAKO CO., LTD. <2892> [TSE-S] announced its financial results at noon (12:30) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 38.0% from the previous period non-consolidated to 1.86 billion yen. The progress rate against the full-year plan of 1.7 billion yen is 109.9%, but was lower than the the five-year average of 119.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to expand to a loss of 168 million yen (compared to a loss of 7 million yen in the previous period non-consolidated).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.05 billion yen, a 28.7% decrease compared to the same period last year. The operating profit margin worsened from 5.7% in the same period last year to 5.3%.

Note: Since the current fiscal year, the company has transitioned to consolidated financial statements.

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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	32,670	2,719	3,030	2,091	425.2	90.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	36,123	2,217	3,015	2,577	524.1	100.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	33,161	1,519	1,868	1,329	270.3	109.9	Oct 31, 2024	J-GAAP
YoY	-8.2%	-31.5%	-38.0%	-48.4%	-48.4%

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	ー	ー	ー	ー	－	40	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	33,161	1,519	1,868	1,329	270.3	40	Oct 31, 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	30,553	346	-7	-143	-29.1	100	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	29,339	-219	-168	-29	-5.9	40	Oct 31, 2024	J-GAAP
YoY	-4.0%	－	-2,300.0%	+79.7%	+79.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	64,612	3,540	3,341	2,605	529.8	180	Apr 28, 2023	J-GAAP
Mar, 2024	66,676	2,563	3,008	2,434	495.0	200	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	62,500	1,300	1,700	1,300	264.3	80	Apr 30, 2024	J-GAAP
YoY	-6.3%	-49.3%	-43.5%	-46.6%	-46.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,847	1,018	1,475	1,115	226.8	5.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	15,793	447	195	-100	-20.3	2.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	14,760	-101	-202	-43	-8.7	-0.7	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	16,599	641	816	570	116.1	3.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	16,562	878	1,052	759	154.4	5.3	Oct 31, 2024	J-GAAP
YoY	-7.2%	-13.8%	-28.7%	-31.9%	-31.9%