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

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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%