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

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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	-1.4	ー	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	57,148	1,400	3,099	1,883	83.4	34.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	61,216	4,102	3,741	2,090	108.3	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	129.4	26	Oct 16, 2024	J-GAAP
Apr - Sep, 2024 Results	61,216	4,102	3,741	2,090	108.3	26	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	238.2	52	Oct 16, 2024	J-GAAP
Mar, 2025 New	115,700	7,000	7,700	4,700	243.4	52	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	163.7	24	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	54,484	2,898	3,959	2,610	135.1	26	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	60.8	40	May 11, 2023	J-GAAP
Mar, 2024	117,904	6,555	8,920	5,038	261.5	44	May 10, 2024	J-GAAP
Mar, 2025 Guidance	115,700	7,000	7,700	4,700	243.4	52	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	17.9	1.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	32,805	2,867	2,774	1,741	90.6	8.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	27,951	2,288	3,047	1,414	73.4	8.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	30,164	2,113	3,035	1,839	95.4	7.0	Oct 9, 2024	J-GAAP
Jul - Sep, 2024	31,052	1,989	706	251	13.0	6.4	Nov 11, 2024	J-GAAP
YoY	+4.1%	+280.3%	-41.7%	-37.7%	-27.1%