Nippon Dry-Chemical CO.,LTD., First Half Ordinary Profit Decreases by 11%

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Mon Nov 11, 2024 4:00 pm JST Earnings

1909 Nippon Dry-Chemical CO.,LTD. 【J-GAAP】

Earnings Report

Nippon Dry-Chemical CO.,LTD. <1909> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.4% from the same period last year to 2.2 billion yen. The progress rate against the 4.45 billion yen full-year plan was 49.4%, which was higher than the five-year average of 33.1%.

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 16.6% from the same period last year to 2.25 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.12 billion yen, a 26.4% decrease compared to the same period last year. The operating profit margin decreased from 11.5% in the same period last year to 10.2%.

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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	21,084	1,215	1,296	820	118.0	32.8	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	24,785	2,146	2,482	1,413	205.1	47.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	23,674	2,200	2,200	1,525	227.7	49.4	Nov 11, 2024	J-GAAP
YoY	-4.5%	+2.5%	-11.4%	+7.9%	+11.0%

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	23,674	2,200	2,200	1,525	227.6	15	Oct 30, 2024	J-GAAP
Apr - Sep, 2024 Results	23,674	2,200	2,200	1,525	227.7	15	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.0%

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	31,093	2,629	2,698	1,874	274.5	35	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,826	2,150	2,250	1,275	190.3	30	Oct 30, 2024	J-GAAP
YoY	-7.3%	-18.2%	-16.6%	-32.0%	-30.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	50,224	3,858	3,950	2,539	366.5	38	May 11, 2023	J-GAAP
Mar, 2024	55,878	4,775	5,180	3,287	481.5	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	52,500	4,350	4,450	2,800	417.8	45	May 13, 2024	J-GAAP
YoY	-6.0%	-8.9%	-14.1%	-14.8%	-13.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,132	1,506	1,533	950	137.9	11.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,819	1,082	1,045	653	95.2	7.8	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	17,274	1,547	1,653	1,221	178.9	9.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	10,802	885	1,071	733	109.5	8.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,872	1,315	1,129	792	118.2	10.2	Nov 11, 2024	J-GAAP
YoY	-2.0%	-12.7%	-26.4%	-16.6%	-14.3%