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NISHIKAWA RUBBER CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 13%

Mon Nov 11, 2024 4:00 pm JST Earnings

5161 NISHIKAWA RUBBER CO., LTD. 【J-GAAP】

Earnings Report

NISHIKAWA RUBBER CO., LTD. <5161> [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) increased by 20.7% from the same period last year, reaching 3.74 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 13.2%, from the previous forecast of 6.8 billion yen to 7.7 billion yen (compared to 8.92 billion yen in the previous period), and the declining rate is expected to decrease from 23.8% to 13.7%.

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 drop by 32.0% from the same period last year to 3.95 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 706 million yen, a 41.7% decrease compared to the same period last year. However, the operating profit margin significantly improved from 1.8% in the same period last year to 6.4%.

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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 46,137 -1,533 -512 -630 -0.7 ー Nov 8, 2022 J-GAAP
Apr - Sep, 2023 57,148 1,400 3,099 1,883 41.7 34.7 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 61,216 4,102 3,741 2,090 54.2 48.6 Nov 11, 2024 J-GAAP
YoY +7.1% +193.0% +20.7% +11.0% +29.9%

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 54,000 2,500 3,500 2,500 64.7 13 Oct 16, 2024 J-GAAP
Apr - Sep, 2024 Results 61,216 4,102 3,741 2,090 54.2 13 Nov 11, 2024 J-GAAP
Revision Rate +13.4% +64.1% +6.9% -16.4% -16.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 110,000 5,500 6,800 4,600 119.1 26 Oct 16, 2024 J-GAAP
Mar, 2025 New 115,700 7,000 7,700 4,700 121.7 26 Nov 11, 2024 J-GAAP
Revision Rate +5.2% +27.3% +13.2% +2.2% +2.2%

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 60,756 5,155 5,821 3,155 81.9 12 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 54,484 2,898 3,959 2,610 67.6 13 Nov 11, 2024 J-GAAP
YoY -10.3% -43.8% -32.0% -17.3% -17.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 98,167 -105 1,332 1,170 30.4 20 May 11, 2023 J-GAAP
Mar, 2024 117,904 6,555 8,920 5,038 130.7 22 May 10, 2024 J-GAAP
Mar, 2025 Guidance 115,700 7,000 7,700 4,700 121.7 26 Nov 11, 2024 J-GAAP
YoY -1.9% +6.8% -13.7% -6.7% -6.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 29,839 523 1,212 403 8.9 1.8 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 32,805 2,867 2,774 1,741 45.3 8.7 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 27,951 2,288 3,047 1,414 36.7 8.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 30,164 2,113 3,035 1,839 47.7 7.0 Oct 9, 2024 J-GAAP
Jul - Sep, 2024 31,052 1,989 706 251 6.5 6.4 Nov 11, 2024 J-GAAP
YoY +4.1% +280.3% -41.7% -37.7% -27.1%

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