NICHIDEN Corporation, First Half Ordinary Profit Decreases by 8%, July-September Ordinary Profit Decreases by 24%

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Tue Nov 5, 2024 3:00 pm JST Earnings

9902 NICHIDEN Corporation 【J-GAAP】

Earnings Report

NICHIDEN Corporation <9902> [TSE-P] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 8.1% from the same period last year to 3.01 billion yen. The progress rate against the 6.5 billion yen full-year plan was 46.4%, almost the same as the five-year average of 46.4%.

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 10.6% from the same period last year, reaching 3.48 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.26 billion yen, a 23.9% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 4.5%.

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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	65,380	3,124	3,518	2,418	77.0	52.1	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	62,450	2,854	3,283	2,514	80.8	51.0	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	64,944	2,911	3,018	2,020	67.4	46.4	Nov 5, 2024	J-GAAP
YoY	+4.0%	+2.0%	-8.1%	-19.6%	-16.6%

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	66,000	2,900	3,100	2,200	74.5	30	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	64,944	2,911	3,018	2,020	67.4	30	Nov 5, 2024	J-GAAP
Revision Rate	-1.6%	+0.4%	-2.6%	-8.2%	-9.6%

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	64,462	2,955	3,148	2,160	70.2	65	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	69,056	3,189	3,482	2,680	90.8	35	Nov 5, 2024	J-GAAP
YoY	+7.1%	+7.9%	+10.6%	+24.1%	+29.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	131,609	6,287	6,756	4,967	158.2	65	May 9, 2023	J-GAAP
Mar, 2024	126,912	5,809	6,431	4,674	151.8	65	May 8, 2024	J-GAAP
Mar, 2025 Guidance	134,000	6,100	6,500	4,700	159.2	65	May 8, 2024	J-GAAP
YoY	+5.6%	+5.0%	+1.1%	+0.6%	+4.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	31,052	1,526	1,666	1,441	46.3	4.9	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	32,209	1,699	1,729	1,163	37.6	5.3	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	32,253	1,256	1,419	997	32.4	3.9	May 8, 2024	J-GAAP
Apr - Jun, 2024	32,598	1,460	1,751	1,173	38.8	4.5	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	32,346	1,451	1,267	847	28.2	4.5	Nov 5, 2024	J-GAAP
YoY	+4.2%	-4.9%	-23.9%	-41.2%	-39.0%