NISSIN FOODS HOLDINGS CO.,LTD., First Half Net Income Decreases by 9%, July-September Net Income Decreases by 27%

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Mon Nov 11, 2024 1:15 pm JST Earnings

2897 NISSIN FOODS HOLDINGS CO.,LTD. 【IFRS】

Earnings Report

NISSIN FOODS HOLDINGS CO.,LTD. <2897> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 11th (13:15). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 9.2% from the same period last year to 29 billion yen. However, The progress rate against the 56 billion yen full-year plan was 51.9%, almost the same as the five-year average of 49.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 21.6% from the same period last year, reaching 26.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 13.1 billion yen, a 26.7% decrease compared to the same period last year. The operating profit margin decreased from 13.1% in the same period last year to 10.3%.

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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	316,954	27,032	28,059	17,382	57.0	48.4	Nov 10, 2022	IFRS
Apr - Sep, 2023	350,370	44,903	46,476	32,010	105.3	60.4	Nov 9, 2023	IFRS
Apr - Sep, 2024	378,090	41,670	42,165	29,050	96.5	ー	Nov 11, 2024	IFRS
YoY	+7.9%	-7.2%	-9.3%	-9.2%	-8.3%

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	ー	ー	ー	ー	－	35	May 13, 2024	IFRS
Apr - Sep, 2024 Results	378,090	41,670	42,165	29,050	96.5	35	Nov 11, 2024	IFRS
Revision Rate	－	－	－	－	－

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	382,563	28,458	30,439	22,160	72.9	40	May 13, 2024	IFRS
Oct - Mar, 2024 Guidance	406,910	36,330	ー	26,950	90.5	35	Nov 11, 2024	IFRS
YoY	+6.4%	+27.7%	－	+21.6%	+24.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	669,248	55,636	57,950	44,760	146.9	46.67	May 10, 2023	IFRS
Mar, 2024	732,933	73,361	76,915	54,170	178.2	66.67	May 13, 2024	IFRS
Mar, 2025 Guidance	785,000	78,000	ー	56,000	188.1	70	May 13, 2024	IFRS
YoY	+7.1%	+6.3%	－	+3.4%	+5.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	183,900	24,024	24,516	17,979	59.1	13.1	Nov 9, 2023	IFRS
Oct - Dec, 2023	198,552	23,656	24,426	17,041	56.0	11.9	Feb 13, 2024	IFRS
Jan - Mar, 2024	184,011	4,802	6,013	5,119	16.8	2.6	May 13, 2024	IFRS
Apr - Jun, 2024	185,036	21,856	22,924	15,873	52.5	11.8	Aug 6, 2024	IFRS
Jul - Sep, 2024	193,054	19,814	19,241	13,177	43.8	10.3	Nov 11, 2024	IFRS
YoY	+5.0%	-17.5%	-21.5%	-26.7%	-25.9%