Nitori Holdings Co., Ltd., First Half Ordinary Profit Increases by 7%, July-September Ordinary Profit Increases by 5%

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Wed Nov 6, 2024 3:30 pm JST Earnings

9843 Nitori Holdings Co., Ltd. 【J-GAAP】

Earnings Report

Nitori Holdings Co., Ltd. <9843> [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) increased by 6.5% from the same period last year, reaching 60.6 billion yen. However, The progress rate against the 134 billion yen full-year plan was 45.2%, almost the same as the same period of the previous year of 43.0%.

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 decrease by 2.8% from the same period last year to 73.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 5.1% from the same period last year, reaching 24.5 billion yen. However, the operating profit margin decreased from 11.2% in the same period last year to 11.0%.

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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
Mar - Aug, 2022 Changed	423,072	69,045	70,430	51,462	455.5	48.9	Sep 30, 2022	J-GAAP
Apr - Sep, 2023	416,814	55,173	56,921	38,043	336.6	43.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	445,768	57,974	60,629	40,456	358.0	45.2	Nov 6, 2024	J-GAAP
YoY	+6.9%	+5.1%	+6.5%	+6.3%	+6.3%

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	456,100	56,700	58,500	40,200	355.7	76	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	445,768	57,974	60,629	40,456	358.0	76	Nov 6, 2024	J-GAAP
Revision Rate	-2.3%	+2.2%	+3.6%	+0.6%	+0.6%

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	478,985	72,552	75,456	48,480	429.0	72	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	514,232	71,626	73,371	51,544	456.1	76	Nov 6, 2024	J-GAAP
YoY	+7.4%	-1.3%	-2.8%	+6.3%	+6.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023 Changed	948,094	140,076	144,085	95,129	841.9	146	May 9, 2023	J-GAAP
Mar, 2024	895,799	127,725	132,377	86,523	765.6	147	May 14, 2024	J-GAAP
Mar, 2025 Guidance	960,000	129,600	134,000	92,000	814.1	152	May 14, 2024	J-GAAP
YoY	+7.2%	+1.5%	+1.2%	+6.3%	+6.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	198,310	22,200	23,403	15,130	133.9	11.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	246,932	42,692	44,347	30,492	269.8	17.3	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	232,053	29,860	31,109	17,988	159.2	12.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	232,819	34,488	36,044	24,213	214.3	14.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	212,949	23,486	24,585	16,243	143.7	11.0	Nov 6, 2024	J-GAAP
YoY	+7.4%	+5.8%	+5.1%	+7.4%	+7.4%