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

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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	447.2	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%