NIPPON THOMPSON CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 32%

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Mon Nov 11, 2024 3:00 pm JST Earnings

6480 NIPPON THOMPSON CO.,LTD. 【J-GAAP】

Earnings Report

NIPPON THOMPSON CO.,LTD. <6480> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 63.4% from the same period last year to 1.1 billion yen, fell short of the previous forecast of 1.8 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 31.7%, from the previous forecast of 4.1 billion yen to 2.8 billion yen (compared to 4.52 billion yen in the previous period), leading to an increase in the profit decline rate from 9.4% to 38.1%.

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 grow by 12.0% from the same period last year, reaching 1.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 291 million yen, a 77.4% decrease compared to the same period last year. However, the operating profit margin improved from 7.2% in the same period last year to 8.3%.

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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	34,340	4,340	6,084	4,195	59.0	58.1	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	28,481	2,040	3,007	1,586	22.2	66.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	26,705	1,202	1,100	-76	-1.1	39.3	Nov 11, 2024	J-GAAP
YoY	-6.2%	-41.1%	-63.4%	－	－

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	26,800	1,000	1,800	400	5.8	9.50	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	26,705	1,202	1,100	-76	-1.1	9.50	Nov 11, 2024	J-GAAP
Revision Rate	-0.4%	+20.2%	-38.9%	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	56,000	3,100	4,100	2,100	30.4	19	Aug 8, 2024	J-GAAP
Mar, 2025 New	55,000	2,600	2,800	900	13.0	19	Nov 11, 2024	J-GAAP
Revision Rate	-1.8%	-16.1%	-31.7%	-57.1%	-57.1%

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	26,567	1,124	1,518	1,088	15.4	9.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,295	1,398	1,700	976	14.1	9.50	Nov 11, 2024	J-GAAP
YoY	+6.5%	+24.4%	+12.0%	-10.3%	-8.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	68,260	9,459	10,479	7,469	104.9	19	May 15, 2023	J-GAAP
Mar, 2024	55,048	3,164	4,525	2,674	37.8	19	May 13, 2024	J-GAAP
Mar, 2025 Guidance	55,000	2,600	2,800	900	13.0	19	Nov 11, 2024	J-GAAP
YoY	-0.1%	-17.8%	-38.1%	-66.3%	-65.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,886	999	1,289	377	5.3	7.2	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	13,658	995	881	681	9.6	7.3	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	12,909	129	637	407	5.8	1.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	13,006	69	809	-319	-4.6	0.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	13,699	1,133	291	243	3.6	8.3	Nov 11, 2024	J-GAAP
YoY	-1.3%	+13.4%	-77.4%	-35.5%	-32.8%