Nippon Hume Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 15%, Dividend Revised Upward by 4 yen

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Fri Nov 8, 2024 2:00 pm JST Earnings

5262 Nippon Hume Corporation 【J-GAAP】

Earnings Report

Nippon Hume Corporation <5262> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.2 times that of the same period last year, reaching 2.49 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 15.4%, from the previous forecast of 2.6 billion yen to 3 billion yen (compared to 2.39 billion yen in the previous period), increasing the growth rate from 8.7% to 25.5%.

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 significant drop by 60.1% from the same period last year to 509 million yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 34 yen to 38 yen (compared to 25 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 54.6% from the same period last year, reaching 832 million yen. The operating profit margin improved from 3.1% in the same period last year to 5.8%.

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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	14,861	460	1,408	1,187	49.2	67.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	14,340	287	1,114	1,150	47.9	46.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	18,922	1,468	2,491	2,082	88.1	83.0	Nov 8, 2024	J-GAAP
YoY	+32.0%	+411.5%	+123.6%	+81.0%	+83.9%

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	ー	ー	ー	ー	－	17	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	18,922	1,468	2,491	2,082	88.1	19	Nov 8, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	37,000	1,700	2,600	2,000	86.1	34	May 9, 2024	J-GAAP
Mar, 2025 New	37,000	1,900	3,000	2,600	111.9	38	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	+11.8%	+15.4%	+30.0%	+30.0%

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	19,392	1,094	1,277	762	31.9	25	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,078	432	509	518	22.3	19	Nov 8, 2024	J-GAAP
YoY	-6.8%	-60.5%	-60.1%	-32.0%	-30.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,876	1,236	2,102	1,642	68.1	21	May 11, 2023	J-GAAP
Mar, 2024	33,732	1,381	2,391	1,912	79.9	25	May 9, 2024	J-GAAP
Mar, 2025 Guidance	37,000	1,900	3,000	2,600	111.9	38	Nov 8, 2024	J-GAAP
YoY	+9.7%	+37.6%	+25.5%	+36.0%	+40.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,015	216	538	514	21.4	3.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	9,998	537	494	164	6.9	5.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	9,394	557	783	598	25.0	5.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	9,012	894	1,659	1,338	56.2	9.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,910	574	832	744	31.5	5.8	Nov 8, 2024	J-GAAP
YoY	+41.3%	+165.7%	+54.6%	+44.7%	+47.0%