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NITTO BOSEKI CO.,LTD., First Half Ordinary Profit Increases by 84%, The Undetermined Dividend to Rise by 32 yen

Fri Nov 1, 2024 3:00 pm JST Earnings

3110 NITTO BOSEKI CO.,LTD. 【J-GAAP】

Earnings Report

NITTO BOSEKI CO.,LTD. <3110> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 7.72 billion yen, an increase of 84.4% compared to the same period last year. However, The progress rate against the 16 billion yen full-year plan was 48.3%, also falling below the five-year average of 56.0%.

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 48.8% from the same period last year, reaching 8.28 billion yen.

At the same time, the company has decided to implement a annual dividend of 87 yen for the current fiscal year, which was previously undecided (compared to 55 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 28.2% from the same period last year, reaching 2.95 billion yen. The operating profit margin improved from 10.0% in the same period last year to 12.8%.

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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 47,037 4,597 6,205 7,474 195.3 102.3 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 42,734 3,118 4,187 3,516 96.6 42.9 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 53,051 7,345 7,720 5,411 148.6 48.3 Nov 1, 2024 J-GAAP
YoY +24.1% +135.6% +84.4% +53.9% +53.9%

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 53,000 7,000 8,000 5,500 151.1 27.50 Aug 1, 2024 J-GAAP
Apr - Sep, 2024 Results 53,051 7,345 7,720 5,411 148.6 27.50 Nov 1, 2024 J-GAAP
Revision Rate +0.1% +4.9% -3.5% -1.6% -1.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 109,000 15,000 16,000 10,500 288.4 － Aug 1, 2024 J-GAAP
Mar, 2025 New 109,000 15,000 16,000 10,500 288.4 87 Nov 1, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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 50,519 5,269 5,565 3,780 103.8 32.50 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 55,949 7,655 8,280 5,089 139.8 59.50 Nov 1, 2024 J-GAAP
YoY +10.7% +45.3% +48.8% +34.6% +34.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 87,529 4,880 6,067 2,772 73.9 55 May 12, 2023 J-GAAP
Mar, 2024 93,253 8,387 9,752 7,296 200.4 55 May 9, 2024 J-GAAP
Mar, 2025 Guidance 109,000 15,000 16,000 10,500 288.4 87 Nov 1, 2024 J-GAAP
YoY +16.9% +78.8% +64.1% +43.9% +43.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 22,437 2,233 2,303 2,457 67.5 10.0 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 25,307 2,586 2,586 1,850 50.8 10.2 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 25,212 2,683 2,979 1,930 53.0 10.6 May 9, 2024 J-GAAP
Apr - Jun, 2024 26,115 3,907 4,768 3,251 89.3 15.0 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 26,936 3,438 2,952 2,160 59.3 12.8 Nov 1, 2024 J-GAAP
YoY +20.1% +54.0% +28.2% -12.1% -12.1%

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