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

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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%