NIHON PLAST CO.,LTD., First Half Ordinary Profit Decreases by 38%

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Fri Nov 8, 2024 3:00 pm JST Earnings

7291 NIHON PLAST CO.,LTD. 【J-GAAP】

Earnings Report

NIHON PLAST CO.,LTD. <7291> [TSE-S] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 38.1% from the same period last year to 1.3 billion yen. The progress rate against the 1.4 billion yen full-year plan was 93.3%, also surpassing the progress rate of 72.3% from the same period of the previous year.

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 significant drop by 88.4% from the same period last year to 94 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 675 million yen, a 60.0% decrease compared to the same period last year. The operating profit margin worsened from 4.5% in the same period last year to 3.6%.

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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	47,364	-1,284	-796	-1,471	-77.0	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	58,208	1,724	2,110	1,829	95.6	72.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	60,319	1,524	1,306	800	42.3	93.3	Nov 8, 2024	J-GAAP
YoY	+3.6%	-11.6%	-38.1%	-56.3%	-55.8%

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	－	7.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	60,319	1,524	1,306	800	42.3	7.50	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	66,047	1,087	810	649	34.0	7.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	61,681	476	94	100	5.3	7.50	Nov 8, 2024	J-GAAP
YoY	-6.6%	-56.2%	-88.4%	-84.6%	-84.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	103,359	-966	-749	-3,602	-188.4	10	May 22, 2023	J-GAAP
Mar, 2024	124,255	2,811	2,920	2,478	129.8	15	May 10, 2024	J-GAAP
Mar, 2025 Guidance	122,000	2,000	1,400	900	47.5	15	May 10, 2024	J-GAAP
YoY	-1.8%	-28.9%	-52.1%	-63.7%	-63.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,608	1,335	1,688	1,537	80.4	4.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	32,301	470	346	698	36.5	1.5	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	33,746	617	464	-49	-2.6	1.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	29,444	399	631	440	23.3	1.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	30,875	1,125	675	360	19.0	3.6	Nov 8, 2024	J-GAAP
YoY	+4.3%	-15.7%	-60.0%	-76.6%	-76.3%