Fuji Nihon Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 30%

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Thu Oct 31, 2024 3:00 pm JST Earnings

2114 Fuji Nihon Corporation 【J-GAAP】

Earnings Report

Fuji Nihon Corporation <2114> [TSE-S] 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) was 1.89 billion yen, a 0.6% increase compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 30.4%, from the previous forecast of 2.3 billion yen to 3 billion yen (compared to 3.2 billion yen in the previous period), and the declining rate is expected to decrease from 28.2% to 6.3%.

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 decrease by 16.2% from the same period last year to 1.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 43.6% from the same period last year, reaching 913 million yen. The operating profit margin improved from 9.2% in the same period last year to 11.6%.

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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	11,105	993	1,194	962	35.9	56.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	12,517	1,062	1,887	1,443	53.8	58.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	13,612	1,617	1,898	1,634	60.8	63.3	Oct 31, 2024	J-GAAP
YoY	+8.7%	+52.3%	+0.6%	+13.2%	+13.2%

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	－	15	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	13,612	1,617	1,898	1,634	60.8	15	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	27,700	2,000	2,300	1,700	66.3	32	Apr 30, 2024	J-GAAP
Mar, 2025 New	27,700	2,400	3,000	2,400	93.6	32	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	+20.0%	+30.4%	+41.2%	+41.2%

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	13,372	1,111	1,315	927	34.5	17	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,088	783	1,102	766	29.9	17	Oct 31, 2024	J-GAAP
YoY	+5.4%	-29.5%	-16.2%	-17.4%	-13.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,677	1,814	2,124	1,672	62.3	17	Apr 28, 2023	J-GAAP
Mar, 2024	25,889	2,173	3,202	2,370	88.3	32	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	27,700	2,400	3,000	2,400	93.6	32	Oct 31, 2024	J-GAAP
YoY	+7.0%	+10.4%	-6.3%	+1.3%	+6.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,491	597	636	480	17.9	9.2	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	6,851	688	784	560	20.9	10.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	6,521	423	531	367	13.7	6.5	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	6,747	824	985	720	27.1	12.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	6,865	793	913	914	34.0	11.6	Oct 31, 2024	J-GAAP
YoY	+5.8%	+32.8%	+43.6%	+90.4%	+90.3%