NICHIMO CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 0.1％Decrease

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Fri Nov 8, 2024 4:00 pm JST Earnings

8091 NICHIMO CO.,LTD. 【J-GAAP】

Earnings Report

NICHIMO CO.,LTD. <8091> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 1.43 billion yen, a 0.1% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 18.2% increase.

The progress rate against the 3.6 billion yen full-year plan was 39.9%, also falling below the five-year average of 49.4%.

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 expand by 92.5% from the same period last year, reaching 2.16 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.4% from the same period last year, reaching 632 million yen. The operating profit margin remained almost flat, changing from 1.7% in the same period last year to 1.9%.

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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	61,110	1,471	1,619	1,103	161.3	50.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	61,332	1,245	1,438	1,106	134.1	56.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	61,607	1,230	1,436	1,083	130.1	39.9	Nov 8, 2024	J-GAAP
YoY	+0.4%	-1.2%	-0.1%	-2.1%	-3.0%

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	64,000	1,600	1,700	1,200	144.0	45	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	61,607	1,230	1,436	1,083	130.1	45	Nov 8, 2024	J-GAAP
Revision Rate	-3.7%	-23.1%	-15.5%	-9.8%	-9.7%

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	66,424	775	1,124	1,243	149.9	45	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	73,393	2,170	2,164	1,517	182.1	45	Nov 8, 2024	J-GAAP
YoY	+10.5%	+180.0%	+92.5%	+22.0%	+21.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	126,829	2,874	3,220	2,437	341.3	80	May 12, 2023	J-GAAP
Mar, 2024	127,756	2,020	2,562	2,349	283.2	90	May 10, 2024	J-GAAP
Mar, 2025 Guidance	135,000	3,400	3,600	2,600	312.0	90	May 10, 2024	J-GAAP
YoY	+5.7%	+68.3%	+40.5%	+10.7%	+10.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,981	500	583	444	53.8	1.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	40,035	1,122	1,459	1,035	125.0	2.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	26,389	-347	-335	208	25.1	-1.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	30,297	648	804	632	75.9	2.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	31,310	582	632	451	54.2	1.9	Nov 8, 2024	J-GAAP
YoY	+4.4%	+16.4%	+8.4%	+1.6%	+0.6%