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

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%

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