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NICHIHA CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 38% Decrease

Thu Nov 7, 2024 3:40 pm JST Earnings

7943 NICHIHA CORPORATION 【J-GAAP】

Earnings Report

NICHIHA CORPORATION <7943> [TSE-P] announced its financial results after the market closed on November 7th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 38.5% from the same period last year to 3.23 billion yen, fell short of the previous forecast of 4.8 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 39.2%, from the previous forecast of 12 billion yen to 7.3 billion yen (compared to 11.8 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 38.4% decrease in profit.

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 drop by 38.4% from the same period last year to 4.06 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 900 million yen, a 66.6% decrease compared to the same period last year. The operating profit margin worsened from 6.1% in the same period last year to 4.7%.

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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 67,209 5,465 6,767 4,791 130.7 52.8 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 68,408 3,804 5,258 3,335 91.9 44.3 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 73,019 3,435 3,235 1,829 52.5 44.3 Nov 7, 2024 J-GAAP
YoY +6.7% -9.7% -38.5% -45.2% -42.9%

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 72,000 4,500 4,800 3,400 99.0 57 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 73,019 3,435 3,235 1,829 52.5 57 Nov 7, 2024 J-GAAP
Revision Rate +1.4% -23.7% -32.6% -46.2% -47.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 148,500 11,500 12,000 8,500 249.8 114 May 9, 2024 J-GAAP
Mar, 2025 New 148,500 7,000 7,300 4,500 132.3 114 Nov 7, 2024 J-GAAP
Revision Rate 0.0% -39.1% -39.2% -47.1% -47.1%

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 74,382 6,401 6,598 4,731 131.1 57 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 75,481 3,565 4,065 2,671 78.5 57 Nov 7, 2024 J-GAAP
YoY +1.5% -44.3% -38.4% -43.5% -40.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 138,063 11,704 12,805 9,037 247.2 97 May 10, 2023 J-GAAP
Mar, 2024 142,790 10,205 11,856 8,066 223.6 114 May 9, 2024 J-GAAP
Mar, 2025 Guidance 148,500 7,000 7,300 4,500 132.3 114 Nov 7, 2024 J-GAAP
YoY +4.0% -31.4% -38.4% -44.2% -40.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 35,581 2,178 2,698 1,579 43.5 6.1 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 39,416 3,867 3,213 2,289 63.2 9.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 34,966 2,534 3,385 2,442 67.7 7.2 May 9, 2024 J-GAAP
Apr - Jun, 2024 35,925 1,704 2,335 1,656 47.0 4.7 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 37,094 1,731 900 173 5.0 4.7 Nov 7, 2024 J-GAAP
YoY +4.3% -20.5% -66.6% -89.0% -88.6%

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