NIPPON KAYAKU CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 3%

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Mon Nov 11, 2024 4:00 pm JST Earnings

4272 NIPPON KAYAKU CO.,LTD. 【J-GAAP】

Earnings Report

NIPPON KAYAKU CO.,LTD. <4272> [TSE-P] 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) expanded to 11.6 billion yen, an increase of 40.3% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 3.1%, from the previous forecast of 19.5 billion yen to 20.1 billion yen (compared to 12.5 billion yen in the previous period), increasing the growth rate from 55.2% to 60.0%.

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 expand by 98.5% from the same period last year, reaching 8.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 6.1% from the same period last year, reaching 4.38 billion yen. The operating profit margin drastically improved from 4.9% in the same period last year to 10.1%.

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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	102,728	13,559	16,628	11,281	67.0	72.2	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	97,908	4,767	8,313	6,092	36.7	66.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	109,109	11,160	11,666	5,974	36.2	58.0	Nov 11, 2024	J-GAAP
YoY	+11.4%	+134.1%	+40.3%	-1.9%	-1.4%

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	108,400	9,000	10,300	4,500	27.5	22.50	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	109,109	11,160	11,666	5,974	36.2	22.50	Nov 11, 2024	J-GAAP
Revision Rate	+0.7%	+24.0%	+13.3%	+32.8%	+31.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	220,800	18,100	19,500	12,000	73.6	45	Jul 31, 2024	J-GAAP
Mar, 2025 New	220,300	19,300	20,100	15,300	93.9	45	Nov 11, 2024	J-GAAP
Revision Rate	-0.2%	+6.6%	+3.1%	+27.5%	+27.5%

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	103,883	2,570	4,249	-1,979	-11.9	22.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	111,191	8,140	8,434	9,326	57.2	22.50	Nov 11, 2024	J-GAAP
YoY	+7.0%	+216.7%	+98.5%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	198,380	21,505	23,025	14,984	89.4	45	May 15, 2023	J-GAAP
Mar, 2024	201,791	7,337	12,562	4,113	24.8	45	May 13, 2024	J-GAAP
Mar, 2025 Guidance	220,300	19,300	20,100	15,300	93.9	45	Nov 11, 2024	J-GAAP
YoY	+9.2%	+163.1%	+60.0%	+272.0%	+278.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	49,324	2,434	4,134	3,431	20.7	4.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	51,845	-656	-840	-3,263	-19.7	-1.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	52,038	3,226	5,089	1,284	7.7	6.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	53,645	5,570	7,278	3,566	21.5	10.4	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	55,464	5,590	4,388	2,408	14.6	10.1	Nov 11, 2024	J-GAAP
YoY	+12.4%	+129.7%	+6.1%	-29.8%	-29.4%