NOZAWA CORPORATION, First Half Ordinary Profit Decreases by 11%, July-September Ordinary Profit Decreases by 19%

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Fri Nov 8, 2024 11:00 am JST Earnings

5237 NOZAWA CORPORATION 【J-GAAP】

Earnings Report

NOZAWA CORPORATION <5237> [TSE-S] announced its financial results in the morning on November 8th (11:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 10.6% from the same period last year to 1.02 billion yen. The progress rate against the 2.1 billion yen full-year plan was 48.9%, also falling below the five-year average of 52.6%.

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 36.0% from the same period last year, reaching 1.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 516 million yen, a 19.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 9.1% in the same period last year to 8.8%.

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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	10,217	603	711	415	36.5	62.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	12,028	1,040	1,149	320	28.0	59.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	11,175	937	1,027	577	50.1	48.9	Nov 8, 2024	J-GAAP
YoY	-7.1%	-9.9%	-10.6%	+80.3%	+78.8%

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	11,000	870	910	600	52.0	－	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	11,175	937	1,027	577	50.1	－	Nov 8, 2024	J-GAAP
Revision Rate	+1.6%	+7.7%	+12.9%	-3.8%	-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	11,046	740	789	554	48.4	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,325	1,063	1,073	823	71.3	35	Nov 8, 2024	J-GAAP
YoY	+11.6%	+43.6%	+36.0%	+48.6%	+47.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,975	1,007	1,147	486	42.7	35	May 12, 2023	J-GAAP
Mar, 2024	23,074	1,780	1,938	874	76.3	35	May 10, 2024	J-GAAP
Mar, 2025 Guidance	23,500	2,000	2,100	1,400	121.3	35	May 10, 2024	J-GAAP
YoY	+1.8%	+12.4%	+8.4%	+60.2%	+58.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,318	577	637	393	34.4	9.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	6,115	579	606	410	35.8	9.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	4,931	161	183	144	12.6	3.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,530	438	511	290	25.2	7.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	5,645	499	516	287	24.9	8.8	Nov 8, 2024	J-GAAP
YoY	-10.7%	-13.5%	-19.0%	-27.0%	-27.6%