NKK SWITCHES.CO.,LTD., First Half Ordinary Profit Decreases by 98%, July-September Ordinary Profit Turns to Loss

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Mon Nov 11, 2024 4:00 pm JST Earnings

6943 NKK SWITCHES.CO.,LTD. 【J-GAAP】

Earnings Report

NKK SWITCHES.CO.,LTD. <6943> [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) significantly dropped by 98.2% from the same period last year to 8 million yen. The progress rate against the 50 million yen full-year plan was 16.0%, also falling below the five-year average of 60.0%.

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 expand by 90.9% from the same period last year, reaching 42 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 31 million yen (compared to a profit of 186 million yen in the same period last year). The operating profit margin drastically worsened from 6.7% in the same period last year to 0.6%.

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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	5,176	585	701	644	783.7	67.3	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	5,073	376	437	283	344.1	95.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	3,966	15	8	51	63.0	16.0	Nov 11, 2024	J-GAAP
YoY	-21.8%	-96.0%	-98.2%	-82.0%	-81.7%

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	－	30	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	3,966	15	8	51	63.0	30	Nov 11, 2024	J-GAAP
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	4,368	-7	22	106	128.9	70	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,534	-15	42	-51	0.0	40	Nov 11, 2024	J-GAAP
YoY	+3.8%	-114.3%	+90.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,328	889	1,042	826	1,004.1	150	May 9, 2023	J-GAAP
Mar, 2024	9,441	369	459	389	473.1	120	May 8, 2024	J-GAAP
Mar, 2025 Guidance	8,500	0	50	0	0.0	70	May 8, 2024	J-GAAP
YoY	-10.0%	－	-89.1%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,491	167	186	111	135.0	6.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,229	44	39	47	57.3	2.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,139	-51	-17	59	71.8	-2.4	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,986	3	39	27	33.7	0.2	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	1,980	12	-31	24	29.7	0.6	Nov 11, 2024	J-GAAP
YoY	-20.5%	-92.8%	－	-78.4%	-78.0%