NIHON CHOUZAI CO.,LTD., First Half Net Income Revised Downward to a Loss

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Thu Oct 31, 2024 4:00 pm JST Earnings

3341 NIHON CHOUZAI CO.,LTD. 【J-GAAP】

Earnings Report

NIHON CHOUZAI CO.,LTD. <3341> [TSE-P] announced its financial results after the market closed on October 31st (16:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 43 million yen (compared to a profit of 1.74 billion yen in the same period last year), reversing from the forecast of a 1.2 billion yen to a loss

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 4.6 times that of the same period last year, reaching 3.74 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 97 million yen, a 91.1% decrease compared to the same period last year. The operating profit margin worsened from 2.1% in the same period last year to 0.7%.

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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	152,331	2,813	2,849	1,607	53.7	37.1	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	166,310	3,397	3,367	1,748	58.4	35.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	175,575	423	772	-43	-1.4	11.9	Oct 31, 2024	J-GAAP
YoY	+5.6%	-87.5%	-77.1%	－	－

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	183,700	2,300	2,400	1,200	40.1	12.50	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	175,575	423	772	-43	-1.4	12.50	Oct 31, 2024	J-GAAP
Revision Rate	-4.4%	-81.6%	-67.8%	－	－

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	174,000	5,745	6,072	805	26.9	12.50	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	198,225	5,977	5,728	3,743	125.3	12.50	Oct 31, 2024	J-GAAP
YoY	+13.9%	+4.0%	-5.7%	+365.0%	+365.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	313,318	7,586	7,682	4,458	148.9	25	Apr 28, 2023	J-GAAP
Mar, 2024	340,310	9,142	9,439	2,553	85.4	25	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	373,800	6,400	6,500	3,700	123.9	25	Apr 30, 2024	J-GAAP
YoY	+9.8%	-30.0%	-31.1%	+44.9%	+45.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	84,462	1,801	1,762	1,089	36.4	2.1	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	87,817	3,153	3,150	2,021	67.6	3.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	86,183	2,592	2,922	-1,216	-40.7	3.0	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	86,433	-236	85	-140	-4.7	-0.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	89,142	659	687	97	3.3	0.7	Oct 31, 2024	J-GAAP
YoY	+5.5%	-63.4%	-61.0%	-91.1%	-91.1%