NOF CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Dividend Revised Upward by 2 yen

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Thu Nov 7, 2024 2:00 pm JST Earnings

4403 NOF CORPORATION 【J-GAAP】

Earnings Report

NOF CORPORATION <4403> [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 5.9% from the same period last year, reaching 23.5 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.3%, from the previous forecast of 41.6 billion yen to 43.8 billion yen (compared to 45.5 billion yen in the previous period), and the declining rate is expected to decrease from 8.7% to 3.9%.

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 decrease by 13.3% from the same period last year to 20.2 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 40 yen to 42 yen (compared to 114 yen before the 1-to-3 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 8.43 billion yen, a 15.9% decrease compared to the same period last year. The operating profit margin decreased from 18.6% in the same period last year to 17.7%.

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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	103,808	20,434	22,580	17,444	71.2	52.3	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	101,804	20,051	22,274	16,330	67.6	48.9	Nov 1, 2023	J-GAAP
Apr - Sep, 2024	110,478	23,321	23,592	17,016	71.4	53.9	Nov 7, 2024	J-GAAP
YoY	+8.5%	+16.3%	+5.9%	+4.2%	+5.6%

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	－	20	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	110,478	23,321	23,592	17,016	71.4	21	Nov 7, 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	232,000	40,500	41,600	33,000	139.9	40	May 9, 2024	J-GAAP
Mar, 2025 New	239,000	43,000	43,800	34,900	148.0	42	Nov 7, 2024	J-GAAP
Revision Rate	+3.0%	+6.2%	+5.3%	+5.8%	+5.8%

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	120,448	22,091	23,303	17,660	73.4	19.33	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	128,522	19,679	20,208	17,884	75.8	21	Nov 7, 2024	J-GAAP
YoY	+6.7%	-10.9%	-13.3%	+1.3%	+3.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	217,709	40,624	43,183	33,973	139.0	36	May 11, 2023	J-GAAP
Mar, 2024	222,252	42,142	45,577	33,990	141.2	38	May 9, 2024	J-GAAP
Mar, 2025 Guidance	239,000	43,000	43,800	34,900	148.0	42	Nov 7, 2024	J-GAAP
YoY	+7.5%	+2.0%	-3.9%	+2.7%	+4.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	52,549	9,762	10,028	7,317	30.3	18.6	Nov 1, 2023	J-GAAP
Oct - Dec, 2023	58,295	13,211	13,459	9,681	40.1	22.7	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	62,153	8,880	9,844	7,979	33.1	14.3	May 9, 2024	J-GAAP
Apr - Jun, 2024	55,110	13,533	15,160	11,047	46.3	24.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	55,368	9,788	8,432	5,969	25.0	17.7	Nov 7, 2024	J-GAAP
YoY	+5.4%	+0.3%	-15.9%	-18.4%	-17.4%