NIHON DENKEI CO.,LTD., First Half Ordinary Profit Decreases by 23%, July-September Ordinary Profit Decreases by 18%

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Mon Nov 11, 2024 1:00 pm JST Earnings

9908 NIHON DENKEI CO.,LTD. 【J-GAAP】

Earnings Report

NIHON DENKEI CO.,LTD. <9908> [TSE-S] announced its financial results in the afternoon session on November 11th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.8% from the same period last year to 1.27 billion yen. The progress rate against the 3.5 billion yen full-year plan was 36.5%, almost the same as the five-year average of 34.2%.

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 29.5% from the same period last year to 2.22 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 673 million yen, a 17.5% decrease compared to the same period last year. However, the operating profit margin improved from 3.0% in the same period last year to 3.4%.

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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	43,994	1,239	1,710	1,042	88.6	42.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	46,755	1,327	1,654	1,133	98.0	34.4	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	48,379	1,375	1,277	745	65.4	36.5	Nov 11, 2024	J-GAAP
YoY	+3.5%	+3.6%	-22.8%	-34.2%	-33.3%

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	48,000	1,250	1,250	850	74.8	40	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	48,379	1,375	1,277	745	65.4	40	Nov 11, 2024	J-GAAP
Revision Rate	+0.8%	+10.0%	+2.2%	-12.4%	-12.5%

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	61,784	3,104	3,155	1,814	157.3	45	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	61,621	2,125	2,223	1,655	145.6	42	Nov 11, 2024	J-GAAP
YoY	-0.3%	-31.5%	-29.5%	-8.8%	-7.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	104,778	3,740	3,996	2,905	248.4	75	May 11, 2023	J-GAAP
Mar, 2024	108,539	4,431	4,809	2,947	255.5	80	May 10, 2024	J-GAAP
Mar, 2025 Guidance	110,000	3,500	3,500	2,400	211.2	82	May 10, 2024	J-GAAP
YoY	+1.3%	-21.0%	-27.2%	-18.6%	-17.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	24,435	734	816	583	50.4	3.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	26,648	1,280	1,158	865	74.9	4.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	35,136	1,824	1,997	949	82.3	5.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	21,876	476	604	380	33.4	2.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	26,503	899	673	365	32.1	3.4	Nov 11, 2024	J-GAAP
YoY	+8.5%	+22.5%	-17.5%	-37.4%	-36.4%