Nippon Koshuha Steel Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 50%

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Fri Nov 1, 2024 3:30 pm JST Earnings

5476 Nippon Koshuha Steel Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Koshuha Steel Co., Ltd. <5476> [TSE-S] announced its financial results after the market closed on November 1st (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 579 million yen (compared to a loss of 660 million yen in the same period last year).

However, the full-year consolidated ordinary profit has downwardly by 50.0%, from the previous forecast of 400 million yen to 200 million yen (compared to a loss of 1.58 billion yen in the previous period).

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 779 million yen (compared to a loss of 925 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss improved to a deficit of loss of 173 million yen (compared to a loss of 551 million yen in the same period last year). The operating profit/loss margin significantly improved from -5.6% in the same period last year to -1.8%.

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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	22,722	592	605	458	31.3	69.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	19,144	-656	-660	7,308	498.7	ー	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	18,179	-607	-579	-589	-40.2	ー	Nov 1, 2024	J-GAAP
YoY	-5.0%	+7.5%	+12.3%	－	－

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	18,000	-350	-300	-350	-23.9	0	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	18,179	-607	-579	-589	-40.2	0	Nov 1, 2024	J-GAAP
Revision Rate	+1.0%	-73.4%	-93.0%	-68.3%	-68.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	40,000	300	400	250	17.1	－	Aug 2, 2024	J-GAAP
Mar, 2025 New	39,000	150	200	100	6.8	－	Nov 1, 2024	J-GAAP
Revision Rate	-2.5%	-50.0%	-50.0%	-60.0%	-60.0%

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	17,470	-979	-925	-696	-47.5	50	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,821	757	779	689	47.0	－	Nov 1, 2024	J-GAAP
YoY	+19.2%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,551	821	866	-150	-10.3	5	Apr 28, 2023	J-GAAP
Mar, 2024	36,614	-1,635	-1,585	6,612	451.2	50	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	39,000	150	200	100	6.8	－	Nov 1, 2024	J-GAAP
YoY	+6.5%	－	－	-98.5%	-98.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,412	-528	-551	6,522	445.1	-5.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	8,694	-471	-436	-433	-29.6	-5.4	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	8,776	-508	-489	-263	-18.0	-5.8	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	8,870	-442	-406	-331	-22.6	-5.0	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	9,309	-165	-173	-258	-17.6	-1.8	Nov 1, 2024	J-GAAP
YoY	-1.1%	+68.8%	+68.6%	－	－