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Nippon Yusen Kabushiki Kaisha, The Current Fiscal Year Operating Profit Revised Downward by 7%

Wed Nov 6, 2024 12:00 pm JST Earnings

9101 Nippon Yusen Kabushiki Kaisha 【J-GAAP】

Earnings Report

Nippon Yusen Kabushiki Kaisha <9101> [TSE-P] announced its financial results at noon (12:00) on November 6th. The consolidated operating profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.0% from the same period last year, reaching 115 billion yen.

However, the full-year consolidated operating profit has downwardly by 7.0%, from the previous forecast of 215 billion yen to 200 billion yen (compared to 174 billion yen in the previous period), leading to a reduction in the profit growth rate from 23.1% to 14.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated operating profit for the October to March period (second half) is expected to grow by 11.2% from the same period last year, reaching 84.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated operating profit decreased to 49.7 billion yen, a 3.7% decrease compared to the same period last year. The operating profit margin worsened from 8.6% in the same period last year to 7.5%.

Kabutan News

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 1,365,878 163,336 765,329 706,058 1,391.0 69.0 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 1,168,335 98,786 159,297 113,390 225.0 61.0 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 1,316,816 115,628 289,239 265,892 585.6 70.5 Nov 6, 2024 J-GAAP
YoY +12.7% +17.0% +81.6% +134.5% +160.3%

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 1,295,000 120,000 270,000 250,000 557.4 130 Aug 5, 2024 J-GAAP
Apr - Sep, 2024 Results 1,316,816 115,628 289,239 265,892 585.6 130 Nov 6, 2024 J-GAAP
Revision Rate +1.7% -3.6% +7.1% +6.4% +5.1%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 2,570,000 215,000 410,000 390,000 885.3 260 Aug 5, 2024 J-GAAP
Mar, 2025 New 2,540,000 200,000 410,000 390,000 885.3 260 Nov 6, 2024 J-GAAP
Revision Rate -1.2% -7.0% 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 1,218,905 75,893 102,044 115,213 235.9 80 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,223,184 84,372 120,761 124,108 281.7 130 Nov 6, 2024 J-GAAP
YoY +0.4% +11.2% +18.3% +7.7% +19.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,616,066 296,350 1,109,790 1,012,523 1,993.7 520 May 9, 2023 J-GAAP
Mar, 2024 2,387,240 174,679 261,341 228,603 468.1 140 May 8, 2024 J-GAAP
Mar, 2025 Guidance 2,540,000 200,000 410,000 390,000 885.3 260 Nov 6, 2024 J-GAAP
YoY +6.4% +14.5% +56.9% +70.6% +89.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 600,820 51,683 69,894 39,900 79.2 8.6 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 620,882 45,485 40,968 40,184 81.1 7.3 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 598,023 30,408 61,076 75,029 153.6 5.1 May 8, 2024 J-GAAP
Apr - Jun, 2024 651,714 65,878 125,787 110,234 240.9 10.1 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 665,102 49,750 163,452 155,658 342.8 7.5 Nov 6, 2024 J-GAAP
YoY +10.7% -3.7% +133.9% +290.1% +333.0%

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