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

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 19.9 44.1 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 6,835 709 739 481 25.9 49.8 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 7,651 879 906 596 32.2 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 30.6 12.50 Aug 7, 2024 J-GAAP
Apr - Sep, 2024 Results 7,651 879 906 596 32.2 12.50 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 62.4 25 Aug 7, 2024 J-GAAP
Mar, 2025 New 15,300 1,700 1,745 1,130 64.7 25 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 26.7 12 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 7,649 821 839 534 30.6 12.50 Nov 7, 2024 J-GAAP
YoY +5.6% +12.8% +12.5% +7.2% +14.4%

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 45.2 19 May 9, 2023 J-GAAP
Mar, 2024 14,078 1,437 1,485 979 52.6 21.50 May 9, 2024 J-GAAP
Mar, 2025 Guidance 15,300 1,700 1,745 1,130 64.7 25 Nov 7, 2024 J-GAAP
YoY +8.7% +18.3% +17.5% +15.4% +23.2%

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 14.0 10.8 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 3,524 442 441 298 16.0 12.5 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 3,719 286 305 200 10.7 7.7 May 9, 2024 J-GAAP
Apr - Jun, 2024 3,753 456 465 304 16.4 12.2 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 3,898 423 441 292 15.8 10.9 Nov 7, 2024 J-GAAP
YoY +13.3% +14.0% +10.5% +11.9% +12.5%

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