Nitta Corporation, First Half Ordinary Profit Unexpectedly Revised Upward by 17%

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Fri Nov 1, 2024 3:00 pm JST Earnings

5186 Nitta Corporation 【J-GAAP】

Earnings Report

Nitta Corporation <5186> [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) increased by 16.5% from the same period last year, reaching 7.24 billion yen, resulting in an increase in profits compared to the previous forecast of a 5.2% decrease.

The progress rate against the 12 billion yen full-year plan was 60.4%, also surpassing the five-year average of 49.9%.

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 decrease by 17.9% from the same period last year to 4.75 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 14.4% from the same period last year, reaching 3.64 billion yen. The operating profit margin improved from 5.7% in the same period last year to 6.2%.

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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	43,036	2,860	6,739	5,370	191.5	52.2	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	43,765	2,526	6,221	5,015	180.2	51.8	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	44,354	2,563	7,248	5,831	209.1	60.4	Nov 1, 2024	J-GAAP
YoY	+1.3%	+1.5%	+16.5%	+16.3%	+16.0%

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	44,000	2,300	5,900	4,900	177.4	66	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	44,354	2,563	7,248	5,831	209.1	66	Nov 1, 2024	J-GAAP
Revision Rate	+0.8%	+11.4%	+22.8%	+19.0%	+17.9%

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	44,844	1,895	5,786	4,842	173.8	67	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	45,646	2,237	4,752	4,169	150.8	66	Nov 1, 2024	J-GAAP
YoY	+1.8%	+18.0%	-17.9%	-13.9%	-13.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	88,000	4,989	12,900	10,853	387.3	110	May 12, 2023	J-GAAP
Mar, 2024	88,609	4,421	12,007	9,857	353.8	122	May 10, 2024	J-GAAP
Mar, 2025 Guidance	90,000	4,800	12,000	10,000	361.7	132	May 10, 2024	J-GAAP
YoY	+1.6%	+8.6%	-0.1%	+1.5%	+2.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	22,040	1,246	3,185	2,513	90.3	5.7	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	22,864	1,308	3,062	2,615	93.9	5.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	21,980	587	2,724	2,227	79.9	2.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	21,634	1,162	3,603	3,015	108.1	5.4	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	22,720	1,401	3,645	2,816	101.0	6.2	Nov 1, 2024	J-GAAP
YoY	+3.1%	+12.4%	+14.4%	+12.1%	+11.8%