NIPPON FELT CO.,LTD., First Half Ordinary Profit Increases by 6%

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Thu Oct 31, 2024 2:00 pm JST Earnings

3512 NIPPON FELT CO.,LTD. 【J-GAAP】

Earnings Report

NIPPON FELT CO.,LTD. <3512> [TSE-S] announced its financial results in the afternoon session on October 31st (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.3% from the same period last year, reaching 407 million yen. However, The progress rate against the 900 million yen full-year plan was 45.2%, also falling below the five-year average of 51.9%.

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 expand by 76.1% from the same period last year, reaching 493 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.6% from the same period last year, reaching 162 million yen. The operating profit margin improved from 4.6% in the same period last year to 6.5%.

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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	5,155	421	556	385	20.5	52.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	4,949	284	383	272	14.6	57.8	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	4,882	268	407	273	15.0	45.2	Oct 31, 2024	J-GAAP
YoY	-1.4%	-5.6%	+6.3%	+0.4%	+3.2%

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	－	10	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,882	268	407	273	15.0	10	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	5,133	184	280	215	11.7	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,618	432	493	427	24.1	10	Oct 31, 2024	J-GAAP
YoY	+9.4%	+134.8%	+76.1%	+98.6%	+106.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,399	824	1,055	750	39.9	13	May 15, 2023	J-GAAP
Mar, 2024	10,082	468	663	487	26.4	16	May 15, 2024	J-GAAP
Mar, 2025 Guidance	10,500	700	900	700	39.5	20	May 15, 2024	J-GAAP
YoY	+4.1%	+49.6%	+35.7%	+43.7%	+49.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,571	119	128	97	5.2	4.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	2,563	136	237	161	8.7	5.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	2,570	48	43	54	2.9	1.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,426	108	245	156	8.6	4.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	2,456	160	162	117	6.4	6.5	Oct 31, 2024	J-GAAP
YoY	-4.5%	+34.5%	+26.6%	+20.6%	+24.1%