NICHICON CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 36%

About Information Provided on This Site

The information provided on our website 'Kabutan.com' is not intended to constitute investment solicitation or investment advisory services.
All investment decisions should be made at your own discretion and judgment.
The data on our website is provided by Tokyo Stock Exchange, Osaka Exchange, Nagoya Securities Exchange, JPX Market Innovation & Research, Japannext, and other sources.
Copyright of the Nikkei Stock Average belongs to Nikkei Inc. Stock price charts displayed on Kabutan.com are provided solely for the purpose of reviewing historical price movements of the securities.
These charts neither suggest nor guarantee future price movements of the securities and do not constitute recommendations to buy or sell.
In our financial results coverage, the term 'Surprise Results' identifies securities that demonstrate a significant degree of surprise in their earnings announcements.
This significance is quantitatively assessed based on multiple factors, including: the nature of the announcement (full-year or quarterly results); types of revisions (earnings or dividend forecasts); and numerical analysis comparing the announced results with both the company's previous forecasts and historical performance.
The 'Surprise Ranking' presents these results in order of their calculated surprise factor. Please note that neither these results nor rankings are intended to suggest or guarantee future performance of the listed securities, nor should they be construed as recommendations to buy or sell.

Wed Nov 6, 2024 3:30 pm JST Earnings

6996 NICHICON CORPORATION 【J-GAAP】

Earnings Report

NICHICON CORPORATION <6996> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 59.2% from the same period last year to 3.1 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 36.4%, from the previous forecast of 11 billion yen to 7 billion yen (compared to 11.4 billion yen in the previous period), leading to an increase in the profit decline rate from 3.6% to 38.6%.

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 2.6% from the same period last year, reaching 3.89 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.65 billion yen, a 59.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.1% in the same period last year to 3.7%.

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	87,628	5,947	8,591	2,798	40.9	56.3	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	92,555	5,689	7,608	6,052	88.5	66.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	84,507	1,757	3,102	4,061	59.4	44.3	Nov 6, 2024	J-GAAP
YoY	-8.7%	-69.1%	-59.2%	-32.9%	-32.9%

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	－	17	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	84,507	1,757	3,102	4,061	59.4	17	Nov 6, 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	185,000	10,000	11,000	8,300	121.3	34	May 9, 2024	J-GAAP
Mar, 2025 New	176,000	5,200	7,000	6,100	89.2	34	Nov 6, 2024	J-GAAP
Revision Rate	-4.9%	-48.0%	-36.4%	-26.5%	-26.5%

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	89,088	3,215	3,799	2,201	32.2	17	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	91,493	3,443	3,898	2,039	29.8	17	Nov 6, 2024	J-GAAP
YoY	+2.7%	+7.1%	+2.6%	-7.4%	-7.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	184,725	12,676	15,263	7,814	114.2	30	May 9, 2023	J-GAAP
Mar, 2024	181,643	8,904	11,407	8,253	120.6	33	May 9, 2024	J-GAAP
Mar, 2025 Guidance	176,000	5,200	7,000	6,100	89.2	34	Nov 6, 2024	J-GAAP
YoY	-3.1%	-41.6%	-38.6%	-26.1%	-26.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	47,645	3,405	4,104	2,643	38.6	7.1	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	46,196	2,257	2,162	1,953	28.6	4.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	42,892	958	1,637	248	3.6	2.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	41,150	151	1,443	1,728	25.3	0.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	43,357	1,606	1,659	2,333	34.1	3.7	Nov 6, 2024	J-GAAP
YoY	-9.0%	-52.8%	-59.6%	-11.7%	-11.7%