NIPRO CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 19%

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Fri Nov 8, 2024 2:00 pm JST Earnings

8086 NIPRO CORPORATION 【J-GAAP】

Earnings Report

NIPRO CORPORATION <8086> [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) significantly dropped by 69.5% from the same period last year to 4.49 billion yen, fell short of the previous forecast of 12.6 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 19.2%, from the previous forecast of 27.6 billion yen to 22.3 billion yen (compared to 19.5 billion yen in the previous period), leading to a reduction in the profit growth rate from 41.5% to 14.3%.

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 surge by 3.7 times that of the same period last year, reaching 17.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.93 billion yen (compared to a profit of 5.83 billion yen in the same period last year). However, the operating profit margin improved from 4.2% in the same period last year to 4.8%.

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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	260,339	6,371	11,604	6,252	38.3	75.6	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	285,865	13,488	14,736	9,931	60.9	75.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	312,017	13,459	4,492	129	0.8	20.1	Nov 8, 2024	J-GAAP
YoY	+9.1%	-0.2%	-69.5%	-98.7%	-98.7%

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	316,621	14,620	12,646	6,100	37.4	12	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	312,017	13,459	4,492	129	0.8	12	Nov 8, 2024	J-GAAP
Revision Rate	-1.5%	-7.9%	-64.5%	-97.9%	-97.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	645,000	32,500	27,600	15,800	96.9	32	May 10, 2024	J-GAAP
Mar, 2025 New	645,000	32,500	22,300	15,800	96.9	32	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	-19.2%	0.0%	0.0%

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	300,920	8,847	4,773	1,178	7.2	15	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	332,983	19,041	17,808	15,671	96.1	20	Nov 8, 2024	J-GAAP
YoY	+10.7%	+115.2%	+273.1%	+1,230.3%	+1,230.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	545,199	17,729	15,346	4,574	28.1	22	May 11, 2023	J-GAAP
Mar, 2024	586,785	22,335	19,509	11,109	68.1	25	May 10, 2024	J-GAAP
Mar, 2025 Guidance	645,000	32,500	22,300	15,800	96.9	32	Nov 8, 2024	J-GAAP
YoY	+9.9%	+45.5%	+14.3%	+42.2%	+42.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	145,271	6,151	5,835	5,832	35.8	4.2	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	153,270	8,874	5,274	2,698	16.5	5.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	147,650	-27	-501	-1,520	-9.3	0.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	152,392	5,788	6,422	2,626	16.1	3.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	159,625	7,671	-1,930	-2,497	-15.3	4.8	Nov 8, 2024	J-GAAP
YoY	+9.9%	+24.7%	－	－	－