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

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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%