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NITTOH CORPORATION, First Half Ordinary Profit Decreases by 34%

Thu Nov 7, 2024 2:20 pm JST Earnings

1738 NITTOH CORPORATION 【J-GAAP】

Earnings Report

NITTOH CORPORATION <1738> [NSE-M] announced its financial results in the afternoon session on November 7th (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.5% from the same period last year to 150 million yen, fell short of the previous forecast of 214 million yen.

The progress rate against the 470 million yen full-year plan was 31.9%, also falling below the five-year average of 42.7%.

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 39.1% from the same period last year, reaching 320 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 73 million yen, a 45.5% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 2.7%.

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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 4,584 137 152 98 24.3 40.3 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 5,010 218 229 151 37.5 49.9 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 5,165 139 150 96 23.8 31.9 Nov 7, 2024 J-GAAP
YoY +3.1% -36.2% -34.5% -36.4% -36.6%

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 5,250 206 214 137 33.8 0 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 5,165 139 150 96 23.8 0 Nov 7, 2024 J-GAAP
Revision Rate -1.6% -32.5% -29.9% -29.9% -29.6%

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 5,111 211 230 96 23.7 16 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,435 311 320 224 55.3 17 Nov 7, 2024 J-GAAP
YoY +6.3% +47.4% +39.1% +133.3% +133.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,678 345 377 222 54.9 15 May 9, 2023 J-GAAP
Mar, 2024 10,121 429 459 247 61.0 16 May 9, 2024 J-GAAP
Mar, 2025 Guidance 10,600 450 470 320 79.0 17 May 9, 2024 J-GAAP
YoY +4.7% +4.9% +2.4% +29.6% +29.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,496 127 134 89 22.1 5.1 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 2,632 127 138 92 22.8 4.8 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 2,479 84 92 4 1.0 3.4 May 9, 2024 J-GAAP
Apr - Jun, 2024 2,608 69 77 48 12.1 2.6 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 2,557 70 73 48 11.9 2.7 Nov 7, 2024 J-GAAP
YoY +2.4% -44.9% -45.5% -46.1% -46.2%

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