NIHON DENGI CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 20% Increase, Adds to Record High Profit, Dividend Effectively Increased

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Tue Nov 5, 2024 4:00 pm JST Earnings

1723 NIHON DENGI CO., LTD. 【J-GAAP】

Earnings Report

NIHON DENGI CO., LTD. <1723> [TSE-S] announced its financial results after the market closed on November 5th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.4 billion yen, an increase of 32.1% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 20.6%, from the previous forecast of 6.3 billion yen to 7.6 billion yen (compared to 6.32 billion yen in the previous period), record profits reach two consecutive terms, turning to a 20.2% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 15.4% from the same period last year, reaching 5.19 billion yen.

At the same time, Due to a planned 1-to-2 stock split is scheduled for December 31, the annual dividend for the current fiscal year has been revised from the original plan of 176 yen to 156 yen (equivalent to 230 yen before the stock split) This effectively represents a 30.7% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 26.4% from the same period last year, reaching 1.57 billion yen. The operating profit margin rose from 14.5% in the same period last year to 18.4%.

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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	11,562	609	674	450	56.3	14.6	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	15,584	1,748	1,824	1,234	154.5	28.8	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	14,987	2,318	2,409	1,646	206.9	31.7	Nov 5, 2024	J-GAAP
YoY	-3.8%	+32.6%	+32.1%	+33.4%	+33.9%

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	－	82	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	14,987	2,318	2,409	1,646	206.9	82	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	41,500	6,200	6,300	4,300	540.0	176	May 7, 2024	J-GAAP
Mar, 2025 New	42,500	7,500	7,600	5,300	665.6	230	Nov 5, 2024	J-GAAP
Revision Rate	+2.4%	+21.0%	+20.6%	+23.3%	+23.3%

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	23,310	4,500	4,500	3,438	431.1	108	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	27,513	5,182	5,191	3,654	458.9	148	Nov 5, 2024	J-GAAP
YoY	+18.0%	+15.2%	+15.4%	+6.3%	+6.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	34,308	4,502	4,613	3,167	395.5	152	May 8, 2023	J-GAAP
Mar, 2024	38,894	6,248	6,324	4,672	585.8	184	May 7, 2024	J-GAAP
Mar, 2025 Guidance	42,500	7,500	7,600	5,300	665.6	230	Nov 5, 2024	J-GAAP
YoY	+9.3%	+20.0%	+20.2%	+13.4%	+13.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,385	1,216	1,247	845	105.8	14.5	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	9,439	2,175	2,214	1,516	189.9	23.0	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	13,871	2,325	2,286	1,922	241.0	16.8	May 7, 2024	J-GAAP
Apr - Jun, 2024	6,551	769	833	567	71.3	11.7	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	8,436	1,549	1,576	1,079	135.6	18.4	Nov 5, 2024	J-GAAP
YoY	+0.6%	+27.4%	+26.4%	+27.7%	+28.2%