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NIPPON GEAR CO.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 12%

Thu Oct 31, 2024 1:00 pm JST Earnings

6356 NIPPON GEAR CO.,LTD. 【J-GAAP】

Earnings Report

NIPPON GEAR CO.,LTD. <6356> [TSE-S] announced its financial results in the afternoon session on October 31st (13:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.8% from the same period last year, reaching 919 million yen, resulting in an increase in profits compared to the previous forecast of a 12.4% decrease.

The progress rate against the 1.67 billion yen full-year plan was 55.0%, also surpassing the five-year average of 34.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to drop by 43.5% from the same period last year to 751 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 3.6% from the same period last year, reaching 376 million yen. However, the operating profit margin decreased from 17.8% in the same period last year to 17.2%.

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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 3,184 214 231 194 13.7 23.1 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 4,164 803 822 545 38.4 38.2 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 4,241 890 919 625 43.9 55.0 Oct 31, 2024 J-GAAP
YoY +1.8% +10.8% +11.8% +14.7% +14.5%

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 4,500 700 720 500 35.1 4 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 4,241 890 919 625 43.9 4 Oct 31, 2024 J-GAAP
Revision Rate -5.8% +27.1% +27.6% +25.0% +25.0%

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 5,458 1,325 1,329 994 69.8 5 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,059 750 751 525 36.9 4 Oct 31, 2024 J-GAAP
YoY -7.3% -43.4% -43.5% -47.2% -47.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,520 964 999 685 48.1 6 May 12, 2023 J-GAAP
Mar, 2024 9,622 2,128 2,151 1,539 108.1 8 May 13, 2024 J-GAAP
Mar, 2025 Guidance 9,300 1,640 1,670 1,150 80.8 8 May 13, 2024 J-GAAP
YoY -3.3% -22.9% -22.4% -25.3% -25.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,009 358 363 247 17.4 17.8 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 2,836 828 842 577 40.6 29.2 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 2,622 497 487 417 29.3 19.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 2,110 523 543 369 26.0 24.8 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 2,131 367 376 256 18.0 17.2 Oct 31, 2024 J-GAAP
YoY +6.1% +2.5% +3.6% +3.6% +3.5%

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