Nippi,Incorporated, First Half Ordinary Profit Decreases by 19%, July-September Ordinary Profit Decreases by 60%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7932 Nippi,Incorporated 【J-GAAP】

Earnings Report

Nippi,Incorporated <7932> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.6% from the same period last year to 1.55 billion yen. The progress rate against the 3 billion yen full-year plan was 52.0%, below the five-year average of 64.5%.

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 decrease by 21.0% from the same period last year to 1.44 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 433 million yen, a 60.1% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.0% in the same period last year to 5.1%.

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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	22,417	1,027	1,239	831	289.1	79.8	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	24,418	1,830	1,916	1,377	479.0	51.2	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	25,003	1,646	1,559	1,109	385.6	52.0	Nov 8, 2024	J-GAAP
YoY	+2.4%	-10.1%	-18.6%	-19.5%	-19.5%

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	25,000	1,300	1,300	900	313.0	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	25,003	1,646	1,559	1,109	385.6	0	Nov 8, 2024	J-GAAP
Revision Rate	+0.0%	+26.6%	+19.9%	+23.2%	+23.2%

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	24,628	1,782	1,824	1,171	407.2	220	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,997	1,354	1,441	891	309.8	220	Nov 8, 2024	J-GAAP
YoY	-2.6%	-24.0%	-21.0%	-23.9%	-23.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,811	1,471	1,553	1,169	406.8	80	May 15, 2023	J-GAAP
Mar, 2024	49,046	3,612	3,740	2,548	886.0	220	May 15, 2024	J-GAAP
Mar, 2025 Guidance	49,000	3,000	3,000	2,000	695.5	220	May 15, 2024	J-GAAP
YoY	-0.1%	-16.9%	-19.8%	-21.5%	-21.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,375	1,111	1,086	781	271.7	9.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	12,435	620	570	411	142.9	5.0	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	12,193	1,162	1,254	760	264.3	9.5	May 15, 2024	J-GAAP
Apr - Jun, 2024	12,623	1,018	1,126	748	260.1	8.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,380	628	433	361	125.5	5.1	Nov 8, 2024	J-GAAP
YoY	+0.0%	-43.5%	-60.1%	-53.8%	-53.8%