Nippon Paper Industries Co.,Ltd., First Half Ordinary Profit Decreases by 69%, July-September Ordinary Profit Turns to Loss

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Wed Nov 6, 2024 3:30 pm JST Earnings

3863 Nippon Paper Industries Co.,Ltd. 【J-GAAP】

Earnings Report

Nippon Paper Industries Co.,Ltd. <3863> [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 69.0% from the same period last year to 1.79 billion yen. The progress rate against the 19 billion yen full-year plan was 9.4%, also falling below the five-year average of 52.3%.

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 96.2% from the same period last year, reaching 17.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 3.25 billion yen (compared to a profit of 5.41 billion yen in the same period last year). The operating profit/loss margin worsened from 1.4% in the same period last year to -0.7%.

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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	550,918	-11,981	-7,376	-22,076	-191.1	ー	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	583,942	4,852	5,777	-9,370	-81.2	39.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	584,539	2,056	1,790	-12,353	-107.0	9.4	Nov 6, 2024	J-GAAP
YoY	+0.1%	-57.6%	-69.0%	-31.8%	-31.9%

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	－	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	584,539	2,056	1,790	-12,353	-107.0	0	Nov 6, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	583,372	12,414	8,773	32,117	278.3	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	615,461	20,944	17,210	15,353	133.0	10	Nov 6, 2024	J-GAAP
YoY	+5.5%	+68.7%	+96.2%	-52.2%	-52.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,152,645	-26,855	-24,530	-50,406	-436.3	0	May 15, 2023	J-GAAP
Mar, 2024	1,167,314	17,266	14,550	22,747	197.1	10	May 15, 2024	J-GAAP
Mar, 2025 Guidance	1,200,000	23,000	19,000	3,000	26.0	10	May 15, 2024	J-GAAP
YoY	+2.8%	+33.2%	+30.6%	-86.8%	-86.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	296,518	4,040	5,415	-4,103	-35.6	1.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	290,574	4,455	1,827	1,073	9.3	1.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	292,798	7,959	6,946	31,044	269.0	2.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	287,014	4,137	5,049	-1,089	-9.4	1.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	297,525	-2,081	-3,259	-11,264	-97.6	-0.7	Nov 6, 2024	J-GAAP
YoY	+0.3%	－	－	-174.5%	-174.5%