NIPPON CARBIDE INDUSTRIES CO.,INC., The Current Fiscal Year Ordinary Profit Revised Upward by 18%

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Fri Nov 8, 2024 4:00 pm JST Earnings

4064 NIPPON CARBIDE INDUSTRIES CO.,INC. 【J-GAAP】

Earnings Report

NIPPON CARBIDE INDUSTRIES CO.,INC. <4064> [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) expanded to 1.38 billion yen, an increase of 34.5% compared to the same period last year, exceeded the previous forecast of 1.2 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 18.2%, from the previous forecast of 2.2 billion yen to 2.6 billion yen (compared to 1.57 billion yen in the previous period), increasing the growth rate from 39.9% to 65.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to surge by 2.2 times that of the same period last year, reaching 1.21 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 30.1% from the same period last year, reaching 436 million yen. The operating profit margin significantly improved from 0.8% in the same period last year to 5.3%.

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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	23,313	1,069	1,740	1,367	145.6	91.5	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	21,333	480	1,027	787	83.7	65.3	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	23,370	1,263	1,381	847	91.1	53.1	Nov 8, 2024	J-GAAP
YoY	+9.5%	+163.1%	+34.5%	+7.6%	+8.8%

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	23,000	1,100	1,200	700	75.2	40	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	23,370	1,263	1,381	847	91.1	40	Nov 8, 2024	J-GAAP
Revision Rate	+1.6%	+14.8%	+15.1%	+21.0%	+21.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	50,000	2,100	2,200	1,000	107.4	80	May 13, 2024	J-GAAP
Mar, 2025 New	50,000	2,300	2,600	1,400	150.3	80	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	+9.5%	+18.2%	+40.0%	+40.0%

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	21,898	369	546	212	22.6	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,630	1,037	1,219	553	59.4	40	Nov 8, 2024	J-GAAP
YoY	+21.6%	+181.0%	+123.3%	+160.8%	+162.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,008	1,261	1,902	332	35.4	65	May 12, 2023	J-GAAP
Mar, 2024	43,231	849	1,573	999	106.4	80	May 13, 2024	J-GAAP
Mar, 2025 Guidance	50,000	2,300	2,600	1,400	150.3	80	Nov 8, 2024	J-GAAP
YoY	+15.7%	+170.9%	+65.3%	+40.1%	+41.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,162	88	335	66	7.0	0.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	11,465	276	224	102	10.9	2.4	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	10,433	93	322	110	11.7	0.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	11,239	625	945	660	71.0	5.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	12,131	638	436	187	20.1	5.3	Nov 8, 2024	J-GAAP
YoY	+8.7%	+625.0%	+30.1%	+183.3%	+186.5%