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NICHIREKI GROUP CO., LTD., First Half Ordinary Profit Decreases by 39%, July-September Ordinary Profit Decreases by 30%

Tue Nov 12, 2024 2:00 pm JST Earnings

5011 NICHIREKI GROUP CO., LTD. 【J-GAAP】

Earnings Report

NICHIREKI GROUP CO., LTD. <5011> [TSE-P] announced its financial results in the afternoon session on November 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 38.8% from the same period last year to 1.43 billion yen. The progress rate against the 7.2 billion yen full-year plan was 20.0%, also falling below the five-year average of 31.0%.

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 42.7% from the same period last year, reaching 5.76 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.27 billion yen, a 29.8% decrease compared to the same period last year. The operating profit margin worsened from 9.7% in the same period last year to 6.8%.

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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 33,677 2,178 2,441 2,646 86.6 30.1 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 32,285 1,918 2,351 1,430 48.5 36.8 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 32,012 1,329 1,438 890 30.3 20.0 Nov 12, 2024 J-GAAP
YoY -0.8% -30.7% -38.8% -37.8% -37.6%

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 32,000 1,300 1,400 900 30.6 35 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 32,012 1,329 1,438 890 30.3 35 Nov 12, 2024 J-GAAP
Revision Rate +0.0% +2.2% +2.7% -1.1% -1.0%

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 41,547 4,101 4,039 3,058 104.1 35 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 47,988 5,671 5,762 3,710 126.1 40 Nov 12, 2024 J-GAAP
YoY +15.5% +38.3% +42.7% +21.3% +21.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 78,397 7,566 8,104 6,284 205.7 50 May 10, 2023 J-GAAP
Mar, 2024 73,832 6,019 6,390 4,488 152.7 70 May 10, 2024 J-GAAP
Mar, 2025 Guidance 80,000 7,000 7,200 4,600 156.4 75 May 10, 2024 J-GAAP
YoY +8.4% +16.3% +12.7% +2.5% +2.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 18,615 1,802 1,816 1,142 38.8 9.7 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 22,804 2,964 2,790 1,914 65.1 13.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 18,743 1,137 1,249 1,144 38.9 6.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 13,527 76 164 54 1.9 0.6 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 18,485 1,253 1,274 836 28.4 6.8 Nov 12, 2024 J-GAAP
YoY -0.7% -30.5% -29.8% -26.8% -26.6%

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