NGK INSULATORS,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 4%

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Thu Oct 31, 2024 3:40 pm JST Earnings

5333 NGK INSULATORS,LTD. 【J-GAAP】

Earnings Report

NGK INSULATORS,LTD. <5333> [TSE-P] announced its financial results after the market closed on October 31st (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 38.3 billion yen, an increase of 32.6% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 3.2% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 4.2%, from the previous forecast of 71 billion yen to 74 billion yen (compared to 63 billion yen in the previous period), increasing the growth rate from 12.6% to 17.4%.

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 grow by 4.5% from the same period last year, reaching 35.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 68.1% from the same period last year, reaching 21.5 billion yen. The operating profit margin drastically improved from 9.8% in the same period last year to 15.1%.

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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	274,688	38,808	34,533	26,510	85.1	52.4	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	282,884	32,485	28,940	18,181	59.4	45.9	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	298,352	39,700	38,367	25,869	87.0	51.8	Oct 31, 2024	J-GAAP
YoY	+5.5%	+22.2%	+32.6%	+42.3%	+46.6%

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	295,000	30,000	28,000	21,000	71.0	30	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	298,352	39,700	38,367	25,869	87.0	30	Oct 31, 2024	J-GAAP
Revision Rate	+1.1%	+32.3%	+37.0%	+23.2%	+22.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	620,000	75,000	71,000	53,000	180.9	60	Apr 26, 2024	J-GAAP
Mar, 2025 New	620,000	78,000	74,000	53,000	180.9	60	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	+4.0%	+4.2%	0.0%	0.0%

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	296,029	33,912	34,102	22,381	73.7	25	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	321,648	38,300	35,633	27,131	92.6	30	Oct 31, 2024	J-GAAP
YoY	+8.7%	+12.9%	+4.5%	+21.2%	+25.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	559,240	66,761	65,887	55,048	177.5	66	Apr 28, 2023	J-GAAP
Mar, 2024	578,913	66,397	63,042	40,562	133.7	50	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	620,000	78,000	74,000	53,000	180.9	60	Oct 31, 2024	J-GAAP
YoY	+7.1%	+17.5%	+17.4%	+30.7%	+35.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	141,553	13,924	12,816	6,176	20.2	9.8	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	139,643	17,832	18,507	15,695	51.4	12.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	156,386	16,080	15,595	6,686	22.0	10.3	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	152,521	17,656	16,825	10,964	36.8	11.6	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	145,831	22,044	21,542	14,905	50.1	15.1	Oct 31, 2024	J-GAAP
YoY	+3.0%	+58.3%	+68.1%	+141.3%	+148.7%