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Noritsu Koki Co.,Ltd., The Current Fiscal Year Net Income Revised Upward by 6%

Fri Nov 8, 2024 3:30 pm JST Earnings

7744 Noritsu Koki Co.,Ltd. 【IFRS】

Earnings Report

Noritsu Koki Co.,Ltd. <7744> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 12.9 billion yen, an increase of 64.7% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward by 6.2%, from the previous forecast of 13 billion yen to 13.8 billion yen (compared to 10.1 billion yen in the previous period), increasing the growth rate from 27.5% to 35.3%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the July to December period (second half) has been revised upward by 52.8%, from the previous forecast of 1.51 billion yen to 2.31 billion yen (compared to 5.74 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 73.6% to 59.7%.

In the most recent three-month period, from July to September (3Q), the consolidated net income significantly dropped to 1.43 billion yen, a 57.8% decrease compared to the same period last year. The operating profit margin sharply declined from 21.4% in the same period last year to 8.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 49,662 4,227 7,970 102,928 962.4 202.1 Nov 11, 2022 IFRS
Jan - Sep, 2023 64,722 12,474 12,218 7,842 73.3 89.3 Nov 13, 2023 IFRS
Jan - Sep, 2024 78,437 16,078 16,189 12,915 120.6 90.9 Nov 8, 2024 IFRS
YoY +21.2% +28.9% +32.5% +64.7% +64.6%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 50,937 2,921 2,493 1,516 14.2 19.34 Aug 9, 2024 IFRS
Jul - Dec, 2024 New 50,337 4,121 3,693 2,316 21.6 19.34 Nov 8, 2024 IFRS
Revision Rate -1.2% +41.1% +48.1% +52.8% +52.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 103,700 16,800 16,600 13,000 121.4 38.67 Aug 9, 2024 IFRS
Dec, 2024 New 103,100 18,000 17,800 13,800 128.9 38.67 Nov 8, 2024 IFRS
Revision Rate -0.6% +7.1% +7.2% +6.2% +6.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 49,259 7,041 6,481 5,745 53.7 30.33 Feb 13, 2024 IFRS
Jul - Dec, 2024 Guidance 50,337 4,121 3,693 2,316 21.6 19.34 Nov 8, 2024 IFRS
YoY +2.2% -41.5% -43.0% -59.7% -59.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 73,515 1,262 3,944 101,554 949.5 50.67 Feb 14, 2023 IFRS
Dec, 2023 90,052 14,388 13,677 10,199 95.3 38.33 Feb 13, 2024 IFRS
Dec, 2024 Guidance 103,100 18,000 17,800 13,800 128.9 38.67 Nov 8, 2024 IFRS
YoY +14.5% +25.1% +30.1% +35.3% +35.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 23,929 5,127 5,022 3,388 31.7 21.4 Nov 13, 2023 IFRS
Oct - Dec, 2023 25,330 1,914 1,459 2,357 22.0 7.6 Feb 13, 2024 IFRS
Jan - Mar, 2024 26,922 7,627 7,646 5,235 48.9 28.3 May 10, 2024 IFRS
Apr - Jun, 2024 25,841 6,252 6,461 6,249 58.4 24.2 Aug 9, 2024 IFRS
Jul - Sep, 2024 25,674 2,199 2,082 1,431 13.4 8.6 Nov 8, 2024 IFRS
YoY +7.3% -57.1% -58.5% -57.8% -57.8%

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