NICHIBAN CO., LTD, The Current Fiscal Year Ordinary Profit Revised Upward by 12%

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Fri Nov 8, 2024 2:00 pm JST Earnings

4218 NICHIBAN CO., LTD 【J-GAAP】

Earnings Report

NICHIBAN CO., LTD <4218> [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) expanded to 1.22 billion yen, an increase of 92.6% compared to the same period last year, exceeded the previous forecast of 900 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 12.0%, from the previous forecast of 2.5 billion yen to 2.8 billion yen (compared to 2.2 billion yen in the previous period), increasing the growth rate from 13.6% to 27.2%.

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 nearly flat at 1.57 billion yen, up 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 3.3 times that of the same period last year, reaching 640 million yen. The operating profit margin significantly improved from 1.6% in the same period last year to 5.4%.

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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	21,531	504	578	371	17.9	33.1	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	22,458	529	637	432	21.0	28.9	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	23,759	1,174	1,227	809	39.8	43.8	Nov 8, 2024	J-GAAP
YoY	+5.8%	+121.9%	+92.6%	+87.3%	+89.7%

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	23,400	800	900	600	29.5	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	23,759	1,174	1,227	809	39.8	0	Nov 8, 2024	J-GAAP
Revision Rate	+1.5%	+46.8%	+36.3%	+34.8%	+35.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	48,600	2,400	2,500	1,900	93.3	35	May 13, 2024	J-GAAP
Mar, 2025 New	49,000	2,700	2,800	2,100	103.2	35	Nov 8, 2024	J-GAAP
Revision Rate	+0.8%	+12.5%	+12.0%	+10.5%	+10.5%

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	24,401	1,544	1,564	1,395	68.0	35	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,241	1,526	1,573	1,291	63.4	35	Nov 8, 2024	J-GAAP
YoY	+3.4%	-1.2%	+0.6%	-7.5%	-6.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,560	1,609	1,748	2,371	114.7	35	May 12, 2023	J-GAAP
Mar, 2024	46,859	2,073	2,201	1,827	89.0	35	May 13, 2024	J-GAAP
Mar, 2025 Guidance	49,000	2,700	2,800	2,100	103.2	35	Nov 8, 2024	J-GAAP
YoY	+4.6%	+30.2%	+27.2%	+14.9%	+15.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,542	183	193	151	7.3	1.6	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	13,046	1,182	1,207	959	46.6	9.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	11,355	362	357	436	21.2	3.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	11,524	514	587	333	16.4	4.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,235	660	640	476	23.4	5.4	Nov 8, 2024	J-GAAP
YoY	+6.0%	+260.7%	+231.6%	+215.2%	+219.4%