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NIHON NOHYAKU CO., LTD., First Half Ordinary Profit Revised Downward to an Unexpected 45%Decrease

Mon Nov 11, 2024 2:00 pm JST Earnings

4997 NIHON NOHYAKU CO., LTD. 【J-GAAP】

Earnings Report

NIHON NOHYAKU CO., LTD. <4997> [TSE-P] announced its financial results in the afternoon session on November 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 45.4% from the same period last year to 519 million yen, resulting in a decrease in profits compared to the previous forecast of a 5.2% increase.

The progress rate against the 6.7 billion yen full-year plan was 7.7%, also falling below the four-year average of 25.8%.

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 grow by 24.1% from the same period last year, reaching 6.18 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 662 million yen (compared to a loss of 375 million yen in the same period last year). The operating profit/loss margin drastically improved from -1.1% in the same period last year to 6.0%.

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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 43,167 3,030 3,197 2,582 32.9 41.1 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 40,670 1,176 951 695 8.9 16.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 39,129 1,029 519 620 7.9 7.7 Nov 11, 2024 J-GAAP
YoY -3.8% -12.5% -45.4% -10.8% -10.8%

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 38,700 1,200 1,000 1,200 15.3 10 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 39,129 1,029 519 620 7.9 10 Nov 11, 2024 J-GAAP
Revision Rate +1.1% -14.2% -48.1% -48.3% -48.3%

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 62,363 6,262 4,981 4,082 52.0 9 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 65,371 7,071 6,181 4,180 53.4 10 Nov 11, 2024 J-GAAP
YoY +4.8% +12.9% +24.1% +2.4% +2.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 102,090 8,739 7,779 4,488 57.2 16 May 11, 2023 J-GAAP
Mar, 2024 103,033 7,438 5,932 4,777 60.9 18 May 13, 2024 J-GAAP
Mar, 2025 Guidance 104,500 8,100 6,700 4,800 61.3 20 May 13, 2024 J-GAAP
YoY +1.4% +8.9% +12.9% +0.5% +0.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 18,487 -209 -375 -343 -4.4 -1.1 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 22,620 1,379 831 765 9.8 6.1 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 39,743 4,883 4,150 3,317 42.3 12.3 May 13, 2024 J-GAAP
Apr - Jun, 2024 19,241 -164 -143 54 0.7 -0.9 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 19,888 1,193 662 566 7.2 6.0 Nov 11, 2024 J-GAAP
YoY +7.6% － － － －

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