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

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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	2,887.2	202.1	Nov 11, 2022	IFRS
Jan - Sep, 2023	64,722	12,474	12,218	7,842	219.8	89.3	Nov 13, 2023	IFRS
Jan - Sep, 2024	78,437	16,078	16,189	12,915	361.8	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	42.5	58	Aug 9, 2024	IFRS
Jul - Dec, 2024 New	50,337	4,121	3,693	2,316	64.9	58	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	364.1	116	Aug 9, 2024	IFRS
Dec, 2024 New	103,100	18,000	17,800	13,800	386.6	116	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	161.0	91	Feb 13, 2024	IFRS
Jul - Dec, 2024 Guidance	50,337	4,121	3,693	2,316	64.9	58	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	2,848.5	152	Feb 14, 2023	IFRS
Dec, 2023	90,052	14,388	13,677	10,199	285.9	115	Feb 13, 2024	IFRS
Dec, 2024 Guidance	103,100	18,000	17,800	13,800	386.6	116	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	95.0	21.4	Nov 13, 2023	IFRS
Oct - Dec, 2023	25,330	1,914	1,459	2,357	66.1	7.6	Feb 13, 2024	IFRS
Jan - Mar, 2024	27,304	7,640	7,657	5,235	146.7	28.0	May 10, 2024	IFRS
Apr - Jun, 2024	25,459	6,239	6,450	6,249	175.1	24.5	Aug 9, 2024	IFRS
Jul - Sep, 2024	25,674	2,199	2,082	1,431	40.1	8.6	Nov 8, 2024	IFRS
YoY	+7.3%	-57.1%	-58.5%	-57.8%	-57.8%