Nisshinbo Holdings Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 27%

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Thu Nov 7, 2024 11:30 am JST Earnings

3105 Nisshinbo Holdings Inc. 【J-GAAP】

Earnings Report

Nisshinbo Holdings Inc. <3105> [TSE-P] announced its financial results at noon (11:30) on November 7th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 46.5% from the same period last year to 8.35 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 26.9%, from the previous forecast of 26 billion yen to 19 billion yen (compared to 15.7 billion yen in the previous period), leading to a reduction in the profit growth rate from 64.7% to 20.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 47.0%, from the previous forecast of 14.9 billion yen to 7.9 billion yen (compared to 14 million yen in the same period of the previous year), leading to a reduction in the profit growth rate from 1065 times to 565 times.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss expanded to a loss of 2.74 billion yen (compared to a loss of 176 million yen in the same period last year). The operating profit/loss margin worsened from -1.0% in the same period last year to -2.5%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	381,815	14,280	21,457	14,922	90.6	105.2	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	398,012	10,769	15,595	-19,361	-123.3	98.8	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	349,804	3,916	8,351	2,952	18.8	44.0	Nov 7, 2024	J-GAAP
YoY	-12.1%	-63.6%	-46.5%	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	272,978	17,285	14,908	10,064	64.0	18	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	244,978	8,285	7,908	1,064	6.8	18	Nov 7, 2024	J-GAAP
Revision Rate	-10.3%	-52.1%	-47.0%	-89.4%	-89.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	513,000	24,000	26,000	19,000	120.9	36	Feb 9, 2024	J-GAAP
Dec, 2024 New	485,000	15,000	19,000	10,000	63.6	36	Nov 7, 2024	J-GAAP
Revision Rate	-5.5%	-37.5%	-26.9%	-47.4%	-47.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	271,844	453	14	-31,672	-201.6	18	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	244,978	8,285	7,908	1,064	6.8	18	Nov 7, 2024	J-GAAP
YoY	-9.9%	+1,728.9%	+56,385.7%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	516,085	15,435	20,397	19,740	121.1	34	Feb 10, 2023	J-GAAP
Dec, 2023	541,211	12,453	15,785	-20,045	-127.6	36	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	485,000	15,000	19,000	10,000	63.6	36	Nov 7, 2024	J-GAAP
YoY	-10.4%	+20.5%	+20.4%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	128,645	-1,231	-176	-30,988	-197.3	-1.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	143,199	1,684	190	-684	-4.4	1.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	130,754	8,147	10,085	7,895	50.3	6.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	109,268	-1,432	1,007	1,041	6.6	-1.3	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	109,782	-2,799	-2,741	-5,984	-38.1	-2.5	Nov 7, 2024	J-GAAP
YoY	-14.7%	-127.4%	-1,457.4%	+80.7%	+80.7%