NIHON SEIKAN K.K, First Half Ordinary Profit Revised Downward to a Loss

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Tue Nov 5, 2024 4:00 pm JST Earnings

5905 NIHON SEIKAN K.K 【J-GAAP】

Earnings Report

NIHON SEIKAN K.K <5905> [TSE-S] announced its financial results after the market closed on November 5th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 71 million yen (compared to a profit of 227 million yen in the same period last year), reversing from the forecast of a 57 million yen to a loss

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 14.6% from the same period last year to 82 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 167 million yen (compared to a profit of 38 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.7% in the same period last year to -6.8%.

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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	5,320	9	32	60	44.5	11.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	5,994	194	227	145	107.2	70.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	5,968	-111	-71	-64	-48.1	ー	Nov 5, 2024	J-GAAP
YoY	-0.4%	－	－	－	－

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	6,219	24	57	17	12.8	0	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	5,968	-111	-71	-64	-48.1	0	Nov 5, 2024	J-GAAP
Revision Rate	-4.0%	－	－	－	－

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	6,254	62	96	126	92.9	70	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,427	59	82	131	97.9	30	Nov 5, 2024	J-GAAP
YoY	+2.8%	-4.8%	-14.6%	+4.0%	+5.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,919	213	268	289	213.3	70	May 1, 2023	J-GAAP
Mar, 2024	12,248	256	323	271	199.8	70	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	12,395	-52	11	67	50.1	30	Apr 30, 2024	J-GAAP
YoY	+1.2%	－	-96.6%	-75.3%	-74.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,895	21	38	38	28.1	0.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	3,217	68	86	93	68.6	2.1	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	3,037	-6	10	33	24.3	-0.2	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	3,356	67	96	52	38.9	2.0	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	2,612	-178	-167	-116	-87.1	-6.8	Nov 5, 2024	J-GAAP
YoY	-9.8%	－	－	－	－