NITTAN Corporation, First Half Ordinary Profit Decreases by 53%, July-September Ordinary Profit Decreases by 21%

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Fri Nov 1, 2024 4:00 pm JST Earnings

6493 NITTAN Corporation 【J-GAAP】

Earnings Report

NITTAN Corporation <6493> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 52.9% from the same period last year to 614 million yen. The progress rate against the 1.85 billion yen full-year plan was 33.2%, also falling below the five-year average of 52.2%.

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 grow by 4.9% from the same period last year, reaching 1.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 447 million yen, a 21.4% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 2.9%.

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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	20,355	354	557	-45	-1.6	31.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	24,841	1,068	1,304	423	14.8	52.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	25,552	211	492	-8	-0.3	26.6	Nov 1, 2024	J-GAAP
YoY	+2.9%	-80.2%	-62.3%	－	－

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	25,552	333	614	54	1.9	6	Oct 30, 2024	J-GAAP
Apr - Sep, 2024 Results	25,552	211	492	-8	-0.3	6	Nov 1, 2024	J-GAAP
Revision Rate	0.0%	-36.6%	-19.9%	－	－

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	24,637	955	1,178	178	6.2	7	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	24,448	1,539	1,358	708	24.6	6	Nov 1, 2024	J-GAAP
YoY	-0.8%	+61.2%	+15.3%	+297.8%	+296.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	41,876	1,440	1,759	391	13.6	9	May 12, 2023	J-GAAP
Mar, 2024	49,478	2,023	2,482	601	20.9	12	May 13, 2024	J-GAAP
Mar, 2025 Guidance	50,000	1,750	1,850	700	24.3	12	Oct 30, 2024	J-GAAP
YoY	+1.1%	-13.5%	-25.5%	+16.5%	+16.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,130	464	569	186	6.5	3.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	13,073	807	958	396	13.8	6.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	11,564	148	220	-218	-7.6	1.3	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,079	-60	167	-189	-6.6	-0.5	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	13,473	271	325	181	6.6	2.0	Nov 1, 2024	J-GAAP
YoY	+2.6%	-41.6%	-42.9%	-2.7%	+1.1%