Ad-Sol Nissin Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Adds to Record High Profit Forecast

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Thu Nov 7, 2024 3:30 pm JST Earnings

3837 Ad-Sol Nissin Corporation 【J-GAAP】

Earnings Report

Ad-Sol Nissin Corporation <3837> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 22.6% from the same period last year, reaching 906 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 4.2%, from the previous forecast of 1.67 billion yen to 1.74 billion yen (compared to 1.48 billion yen in the previous period), increasing the growth rate from 12.8% to 17.5%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 grow by 12.5% from the same period last year, reaching 839 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.5% from the same period last year, reaching 441 million yen. The operating profit margin rose from 10.8% in the same period last year to 10.9%.

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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	6,236	530	549	370	39.9	44.1	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	6,835	709	739	481	51.7	49.8	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	7,651	879	906	596	64.4	51.9	Nov 7, 2024	J-GAAP
YoY	+11.9%	+24.0%	+22.6%	+23.9%	+24.6%

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	7,500	850	875	565	61.3	25	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	7,651	879	906	596	64.4	25	Nov 7, 2024	J-GAAP
Revision Rate	+2.0%	+3.4%	+3.5%	+5.5%	+5.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	15,000	1,630	1,675	1,090	118.2	50	Aug 7, 2024	J-GAAP
Mar, 2025 New	15,300	1,700	1,745	1,130	122.5	50	Nov 7, 2024	J-GAAP
Revision Rate	+2.0%	+4.3%	+4.2%	+3.7%	+3.7%

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	7,243	728	746	498	53.5	24	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	7,649	821	839	534	57.9	25	Nov 7, 2024	J-GAAP
YoY	+5.6%	+12.8%	+12.5%	+7.2%	+8.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	12,842	1,210	1,244	841	90.4	38	May 9, 2023	J-GAAP
Mar, 2024	14,078	1,437	1,485	979	105.1	43	May 9, 2024	J-GAAP
Mar, 2025 Guidance	15,300	1,700	1,745	1,130	122.5	50	Nov 7, 2024	J-GAAP
YoY	+8.7%	+18.3%	+17.5%	+15.4%	+16.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,440	371	399	261	28.1	10.8	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	3,524	442	441	298	32.0	12.5	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	3,719	286	305	200	21.5	7.7	May 9, 2024	J-GAAP
Apr - Jun, 2024	3,753	456	465	304	32.7	12.2	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	3,898	423	441	292	31.6	10.9	Nov 7, 2024	J-GAAP
YoY	+13.3%	+14.0%	+10.5%	+11.9%	+12.5%