Nissan Chemical Corporation, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 3% Increase

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Mon Nov 11, 2024 3:30 pm JST Earnings

4021 Nissan Chemical Corporation 【J-GAAP】

Earnings Report

Nissan Chemical Corporation <4021> [TSE-P] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.7% from the same period last year, reaching 27.9 billion yen, resulting in an increase in profits compared to the previous forecast of a 11.1% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.3%, from the previous forecast of 50.5 billion yen to 53.2 billion yen (compared to 51.6 billion yen in the previous period), turning to a 3.0% increase in the consolidated ordinary profit outlook.

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 nearly flat at 25.2 billion yen, down 0.7% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 30.2% from the same period last year, reaching 11.9 billion yen. The operating profit margin jumped from 17.9% in the same period last year to 23.4%.

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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	109,531	28,159	31,986	23,684	167.7	57.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	105,675	24,094	26,197	19,497	139.6	50.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	118,185	28,344	27,945	20,522	148.8	52.5	Nov 11, 2024	J-GAAP
YoY	+11.8%	+17.6%	+6.7%	+5.3%	+6.6%

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	109,600	24,000	23,300	18,100	131.6	70	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	118,185	28,344	27,945	20,522	148.8	70	Nov 11, 2024	J-GAAP
Revision Rate	+7.8%	+18.1%	+19.9%	+13.4%	+13.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	234,100	50,000	50,500	38,400	281.1	164	May 13, 2024	J-GAAP
Mar, 2025 New	245,000	53,000	53,200	39,400	288.4	164	Nov 11, 2024	J-GAAP
Revision Rate	+4.7%	+6.0%	+5.3%	+2.6%	+2.6%

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	121,030	24,107	25,432	18,536	133.0	94	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	126,815	24,656	25,255	18,878	138.2	94	Nov 11, 2024	J-GAAP
YoY	+4.8%	+2.3%	-0.7%	+1.8%	+3.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	228,065	52,283	55,793	41,087	291.4	164	May 15, 2023	J-GAAP
Mar, 2024	226,705	48,201	51,629	38,033	272.8	164	May 13, 2024	J-GAAP
Mar, 2025 Guidance	245,000	53,000	53,200	39,400	288.4	164	Nov 11, 2024	J-GAAP
YoY	+8.1%	+10.0%	+3.0%	+3.6%	+5.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	50,736	9,096	9,151	7,261	52.0	17.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	49,659	9,342	8,852	6,475	46.4	18.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	71,371	14,765	16,580	12,061	86.5	20.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	58,688	14,426	16,029	11,590	83.8	24.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	59,497	13,918	11,916	8,932	64.8	23.4	Nov 11, 2024	J-GAAP
YoY	+17.3%	+53.0%	+30.2%	+23.0%	+24.6%