NICHIREI CORPORATION, First Half Ordinary Profit Increases by 14%, Current Fiscal Year Dividend Revised Upward by 10 yen

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Tue Nov 5, 2024 3:30 pm JST Earnings

2871 NICHIREI CORPORATION 【J-GAAP】

Earnings Report

NICHIREI CORPORATION <2871> [TSE-P] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.7% from the same period last year, reaching 20.6 billion yen. The progress rate against the 41.2 billion yen full-year plan was 50.1%, almost the same as the five-year average of 48.6%.

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 2.3% from the same period last year, reaching 20.5 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 82 yen to 92 yen (compared to 74 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 4.8% from the same period last year, reaching 10.3 billion yen. The operating profit margin remained almost flat, changing from 5.6% in the same period last year to 5.8%.

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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	321,836	14,709	15,009	9,798	37.8	44.9	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	332,211	17,398	18,160	11,690	45.8	47.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	347,208	19,684	20,641	12,876	50.4	50.1	Nov 5, 2024	J-GAAP
YoY	+4.5%	+13.1%	+13.7%	+10.1%	+10.1%

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	ー	ー	ー	ー	－	20.50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	347,208	19,684	20,641	12,876	50.4	20.50	Nov 5, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	700,000	40,500	41,200	26,000	103.8	41	Aug 6, 2024	J-GAAP
Mar, 2025 New	700,000	40,500	41,200	26,000	103.8	46	Nov 5, 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	347,880	19,513	20,095	12,805	50.1	18.50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	352,792	20,816	20,559	13,124	52.4	25.50	Nov 5, 2024	J-GAAP
YoY	+1.4%	+6.7%	+2.3%	+2.5%	+4.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	662,204	32,935	33,448	21,568	83.6	26	May 9, 2023	J-GAAP
Mar, 2024	680,091	36,911	38,255	24,495	95.9	37	May 14, 2024	J-GAAP
Mar, 2025 Guidance	700,000	40,500	41,200	26,000	103.8	46	Nov 5, 2024	J-GAAP
YoY	+2.9%	+9.7%	+7.7%	+6.1%	+8.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	168,246	9,474	9,835	6,726	26.3	5.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	182,198	12,388	12,791	8,394	32.9	6.8	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	165,682	7,125	7,304	4,411	17.3	4.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	171,157	9,541	10,332	6,444	25.2	5.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	176,051	10,143	10,309	6,432	25.2	5.8	Nov 5, 2024	J-GAAP
YoY	+4.6%	+7.1%	+4.8%	-4.4%	-4.4%