NORITAKE CO., LIMITED, First Half Ordinary Profit Unexpectedly Revised Upward by 4%

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Thu Nov 7, 2024 2:00 pm JST Earnings

5331 NORITAKE CO., LIMITED 【J-GAAP】

Earnings Report

NORITAKE CO., LIMITED <5331> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 3.7% from the same period last year, reaching 7.21 billion yen, resulting in an increase in profits compared to the previous forecast of a 3.7% decrease.

The progress rate against the 14.5 billion yen full-year plan was 49.8%, exceeding the five-year average of 43.9%.

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 5.2% from the same period last year to 7.28 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.26 billion yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin improved from 7.5% in the same period last year to 8.1%.

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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	67,801	4,533	6,580	5,175	179.3	53.0	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	67,559	4,889	6,959	5,793	200.3	47.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	69,789	5,443	7,217	6,048	208.8	49.8	Nov 7, 2024	J-GAAP
YoY	+3.3%	+11.3%	+3.7%	+4.4%	+4.3%

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	69,500	5,000	6,700	5,800	200.6	65	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	69,789	5,443	7,217	6,048	208.8	65	Nov 7, 2024	J-GAAP
Revision Rate	+0.4%	+8.9%	+7.7%	+4.3%	+4.1%

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	70,353	5,820	7,684	5,687	196.4	65	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	71,211	5,557	7,283	5,952	208.3	65	Nov 7, 2024	J-GAAP
YoY	+1.2%	-4.5%	-5.2%	+4.7%	+6.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	139,494	8,969	12,405	10,024	347.3	102.50	May 11, 2023	J-GAAP
Mar, 2024	137,912	10,709	14,643	11,480	396.5	125	May 9, 2024	J-GAAP
Mar, 2025 Guidance	141,000	11,000	14,500	12,000	420.0	130	May 9, 2024	J-GAAP
YoY	+2.2%	+2.7%	-1.0%	+4.5%	+5.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	34,096	2,542	3,409	2,753	95.2	7.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	36,336	3,163	4,046	3,284	113.5	8.7	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	34,017	2,657	3,638	2,403	83.0	7.8	May 9, 2024	J-GAAP
Apr - Jun, 2024	34,812	2,617	3,954	3,247	112.0	7.5	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	34,977	2,826	3,263	2,801	96.7	8.1	Nov 7, 2024	J-GAAP
YoY	+2.6%	+11.2%	-4.3%	+1.7%	+1.6%