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NICHIRIN CO., LTD., July-September (3Q) Ordinary Profit Decreases by 58%, Current Fiscal Year Dividend Revised Upward by 5 yen

Tue Nov 12, 2024 3:00 pm JST Earnings

5184 NICHIRIN CO., LTD. 【J-GAAP】

Earnings Report

NICHIRIN CO., LTD. <5184> [TSE-S] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 9.4% from the same period last year to 7.22 billion yen. However, The progress rate against the 9.5 billion yen full-year plan was 76.1%, also surpassing the five-year average of 71.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to decrease by 11.7% from the same period last year to 2.27 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 150 yen to 155 yen (compared to 150 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 1.1 billion yen, a 57.7% decrease compared to the same period last year. The operating profit margin decreased from 13.8% in the same period last year to 11.2%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 46,853 4,895 6,258 3,299 233.5 74.0 Nov 11, 2022 J-GAAP
Jan - Sep, 2023 51,424 6,825 7,972 4,360 318.8 75.6 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 53,471 6,813 7,226 4,262 317.4 76.1 Nov 12, 2024 J-GAAP
YoY +4.0% -0.2% -9.4% -2.2% -0.4%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 35,717 4,118 3,378 1,473 111.8 75 Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 35,717 4,118 3,378 1,473 111.8 80 Nov 12, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 72,000 9,000 9,500 5,300 402.4 150 Feb 14, 2024 J-GAAP
Dec, 2024 New 72,000 9,000 9,500 5,300 402.4 155 Nov 12, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 36,772 5,226 5,183 2,912 213.6 98 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 35,717 4,118 3,378 1,473 111.8 80 Nov 12, 2024 J-GAAP
YoY -2.9% -21.2% -34.8% -49.4% -47.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 64,172 7,678 8,452 4,578 324.5 90 Feb 14, 2023 J-GAAP
Dec, 2023 70,631 9,620 10,548 5,915 433.8 150 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 72,000 9,000 9,500 5,300 402.4 155 Nov 12, 2024 J-GAAP
YoY +1.9% -6.4% -9.9% -10.4% -7.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 17,565 2,431 2,607 1,357 99.2 13.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 19,207 2,795 2,576 1,555 114.1 14.6 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 18,270 2,564 3,220 1,770 131.5 14.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 18,013 2,318 2,902 2,057 152.8 12.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 17,188 1,931 1,104 435 32.4 11.2 Nov 12, 2024 J-GAAP
YoY -2.1% -20.6% -57.7% -67.9% -67.4%

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