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The Nisshin OilliO Group, Ltd., First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 18%

Fri Nov 8, 2024 12:00 pm JST Earnings

2602 The Nisshin OilliO Group, Ltd. 【J-GAAP】

Earnings Report

The Nisshin OilliO Group, Ltd. <2602> [TSE-P] announced its financial results at noon (12:00) on November 8th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 19.9% from the same period last year to 8.91 billion yen. The progress rate against the 20 billion yen full-year plan was 44.6%, also falling below the five-year average of 57.4%.

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 grow by 24.6% from the same period last year, reaching 11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.77 billion yen, a 17.5% decrease compared to the same period last year. The operating profit margin worsened from 4.1% in the same period last year to 3.5%.

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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 275,621 9,436 9,895 7,784 240.2 60.9 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 254,839 11,545 11,132 7,976 246.1 55.6 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 261,170 10,344 8,913 7,520 232.0 44.6 Nov 8, 2024 J-GAAP
YoY +2.5% -10.4% -19.9% -5.7% -5.7%

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 ー ー ー ー － 90 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 261,170 10,344 8,913 7,520 232.0 90 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 258,702 9,295 8,901 7,172 221.3 110 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 273,830 10,656 11,087 6,980 215.3 90 Nov 8, 2024 J-GAAP
YoY +5.8% +14.6% +24.6% -2.7% -2.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 556,565 16,186 16,242 11,157 344.3 120 May 12, 2023 J-GAAP
Mar, 2024 513,541 20,840 20,033 15,148 467.4 170 May 10, 2024 J-GAAP
Mar, 2025 Guidance 535,000 21,000 20,000 14,500 447.3 180 May 10, 2024 J-GAAP
YoY +4.2% +0.8% -0.2% -4.3% -4.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 126,099 5,211 4,578 2,939 90.7 4.1 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 135,703 7,912 7,579 5,858 180.7 5.8 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 122,999 1,383 1,322 1,314 40.5 1.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 128,488 5,738 5,137 5,125 158.1 4.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 132,682 4,606 3,776 2,395 73.9 3.5 Nov 8, 2024 J-GAAP
YoY +5.2% -11.6% -17.5% -18.5% -18.5%

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