NEPON Inc., First Half Ordinary Profit Loss Widens

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Wed Nov 6, 2024 3:30 pm JST Earnings

7985 NEPON Inc. 【J-GAAP】

Earnings Report

NEPON Inc. <7985> [TSE-S] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 205 million yen (compared to a loss of 95 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 90 million yen.

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 expand by 44.1% from the same period last year, reaching 255 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 31 million yen, a 73.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.6% in the same period last year to 1.6%.

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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	3,208	-94	-83	-67	-70.7	ー	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	3,615	-95	-95	-58	-61.1	ー	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	3,154	-228	-205	-147	-154.3	ー	Nov 6, 2024	J-GAAP
YoY	-12.8%	-140.0%	-115.8%	-153.4%	-152.6%

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	3,300	-90	-90	-90	-94.0	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	3,154	-228	-205	-147	-154.3	－	Nov 6, 2024	J-GAAP
Revision Rate	-4.4%	-153.3%	-127.8%	-63.3%	-64.1%

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	4,159	129	177	122	129.4	30	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,746	298	255	177	184.9	10	Nov 6, 2024	J-GAAP
YoY	+14.1%	+131.0%	+44.1%	+45.1%	+42.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,992	388	396	285	297.8	60	May 10, 2023	J-GAAP
Mar, 2024	7,774	34	82	64	67.9	30	May 10, 2024	J-GAAP
Mar, 2025 Guidance	7,900	70	50	30	31.3	10	May 10, 2024	J-GAAP
YoY	+1.6%	+105.9%	-39.0%	-53.1%	-53.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,191	123	116	88	92.6	5.6	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	2,300	198	191	120	127.2	8.6	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	1,859	-69	-14	2	2.1	-3.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,064	-262	-236	-161	-168.2	-24.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	2,090	34	31	14	14.7	1.6	Nov 6, 2024	J-GAAP
YoY	-4.6%	-72.4%	-73.3%	-84.1%	-84.1%