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Nippon Yakin kogyo Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 11% Decrease

Thu Oct 31, 2024 3:00 pm JST Earnings

5480 Nippon Yakin kogyo Co.,Ltd. 【J-GAAP】

Earnings Report

Nippon Yakin kogyo Co.,Ltd. <5480> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 35.5% from the same period last year to 8.29 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 15.0%, from the previous forecast of 20 billion yen to 17 billion yen (compared to 19.1 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 11.1% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 38.8% from the same period last year, reaching 8.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 3.1 billion yen, a 46.6% decrease compared to the same period last year. The operating profit margin significantly dropped from 13.6% in the same period last year to 8.7%.

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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 96,366 12,651 12,316 8,665 578.8 44.4 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 93,907 12,901 12,858 9,032 619.1 67.2 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 88,834 8,543 8,298 5,807 409.6 48.8 Oct 31, 2024 J-GAAP
YoY -5.4% -33.8% -35.5% -35.7% -33.8%

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 87,000 8,500 8,000 5,500 390.5 100 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 88,834 8,543 8,298 5,807 409.6 100 Oct 31, 2024 J-GAAP
Revision Rate +2.1% +0.5% +3.7% +5.6% +4.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 177,000 21,000 20,000 14,000 994.0 200 May 9, 2024 J-GAAP
Mar, 2025 New 173,000 18,000 17,000 12,000 852.0 200 Oct 31, 2024 J-GAAP
Revision Rate -2.3% -14.3% -15.0% -14.3% -14.3%

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 86,434 7,109 6,270 4,533 312.0 100 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 84,166 9,457 8,702 6,193 439.7 100 Oct 31, 2024 J-GAAP
YoY -2.6% +33.0% +38.8% +36.6% +40.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 199,324 29,256 27,738 19,703 1,316.8 200 May 9, 2023 J-GAAP
Mar, 2024 180,341 20,010 19,128 13,565 933.6 200 May 9, 2024 J-GAAP
Mar, 2025 Guidance 173,000 18,000 17,000 12,000 852.0 200 Oct 31, 2024 J-GAAP
YoY -4.1% -10.0% -11.1% -11.5% -8.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 45,383 6,174 5,804 4,360 298.9 13.6 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 43,880 3,004 2,469 1,780 122.4 6.8 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 42,554 4,105 3,801 2,753 189.5 9.6 May 9, 2024 J-GAAP
Apr - Jun, 2024 46,595 4,873 5,198 3,588 251.5 10.5 Jul 29, 2024 J-GAAP
Jul - Sep, 2024 42,239 3,670 3,100 2,219 156.5 8.7 Oct 31, 2024 J-GAAP
YoY -6.9% -40.6% -46.6% -49.1% -47.6%

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