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NIKON CORPORATION, First Half Net Income Decreases by 70%, July-September Net Income Decreases by 97%

Thu Nov 7, 2024 3:30 pm JST Earnings

7731 NIKON CORPORATION 【IFRS】

Earnings Report

NIKON CORPORATION <7731> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 7th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 69.8% from the same period last year to 2.96 billion yen. The progress rate against the 16 billion yen full-year plan was 18.5%, also falling below the five-year average of 86.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to drop by 42.7% from the same period last year to 13 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 208 million yen, a 97.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.0% in the same period last year to 1.7%.

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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 288,330 24,419 26,035 18,880 51.9 45.6 Nov 10, 2022 IFRS
Apr - Sep, 2023 331,296 13,629 15,260 9,801 28.3 35.8 Nov 9, 2023 IFRS
Apr - Sep, 2024 332,779 5,817 4,454 2,963 8.6 20.2 Nov 7, 2024 IFRS
YoY +0.4% -57.3% -70.8% -69.8% -69.8%

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 332,500 5,500 4,000 2,500 7.2 25 Oct 31, 2024 IFRS
Apr - Sep, 2024 Results 332,779 5,817 4,454 2,963 8.6 25 Nov 7, 2024 IFRS
Revision Rate +0.1% +5.8% +11.4% +18.5% +18.6%

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 385,949 26,147 27,409 22,769 65.7 25 May 9, 2024 IFRS
Oct - Mar, 2024 Guidance 392,221 16,183 17,546 13,037 39.7 30 Nov 7, 2024 IFRS
YoY +1.6% -38.1% -36.0% -42.7% -39.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 628,105 54,908 57,058 44,944 125.5 45 May 11, 2023 IFRS
Mar, 2024 717,245 39,776 42,669 32,570 94.0 50 May 9, 2024 IFRS
Mar, 2025 Guidance 725,000 22,000 22,000 16,000 48.7 55 Oct 31, 2024 IFRS
YoY +1.1% -44.7% -48.4% -50.9% -48.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 173,150 10,339 10,443 7,225 20.9 6.0 Nov 9, 2023 IFRS
Oct - Dec, 2023 197,616 20,809 20,946 15,172 43.8 10.5 Feb 8, 2024 IFRS
Jan - Mar, 2024 188,333 5,338 6,463 7,597 21.9 2.8 May 9, 2024 IFRS
Apr - Jun, 2024 163,896 2,950 4,645 2,755 8.0 1.8 Aug 8, 2024 IFRS
Jul - Sep, 2024 168,883 2,867 -191 208 0.6 1.7 Nov 7, 2024 IFRS
YoY -2.5% -72.3% -97.1% -97.1%

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