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Nitta Gelatin Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 13%, Adds to Record High Profit Forecast

Tue Nov 12, 2024 3:10 pm JST Earnings

4977 Nitta Gelatin Inc. 【J-GAAP】

Earnings Report

Nitta Gelatin Inc. <4977> [TSE-S] announced its financial results in the afternoon session on November 12th (15:10). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.2% from the same period last year, reaching 1.96 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 13.3%, from the previous forecast of 3 billion yen to 3.4 billion yen (compared to 2.38 billion yen in the previous period), increasing the growth rate from 25.9% to 42.7%, further surpassing the previous forecast of record-high profits for three consecutive terms.

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 surge by 2.2 times that of the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 589 million yen, a 41.0% decrease compared to the same period last year. However, the operating profit margin significantly improved from 8.3% in the same period last year to 11.7%.

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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 19,179 1,360 1,625 911 50.3 72.3 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 19,711 1,344 1,739 690 38.1 73.0 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 19,735 2,127 1,969 820 45.2 57.9 Nov 12, 2024 J-GAAP
YoY +0.1% +58.3% +13.2% +18.8% +18.6%

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 19,700 2,100 1,900 800 44.0 9 Nov 5, 2024 J-GAAP
Apr - Sep, 2024 Results 19,735 2,127 1,969 820 45.2 9 Nov 12, 2024 J-GAAP
Revision Rate +0.2% +1.3% +3.6% +2.5% +2.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 39,000 3,000 3,000 1,600 88.1 18 May 15, 2024 J-GAAP
Mar, 2025 New 39,000 3,600 3,400 1,600 88.1 18 Nov 12, 2024 J-GAAP
Revision Rate 0.0% +20.0% +13.3% 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
Oct - Mar, 2023 20,709 492 643 -2,540 -140.0 8 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 19,265 1,473 1,431 780 42.9 9 Nov 12, 2024 J-GAAP
YoY -7.0% +199.4% +122.6% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 39,186 2,259 2,248 1,558 86.0 16 May 12, 2023 J-GAAP
Mar, 2024 40,420 1,836 2,382 -1,850 -102.0 16 May 15, 2024 J-GAAP
Mar, 2025 Guidance 39,000 3,600 3,400 1,600 88.1 18 Nov 12, 2024 J-GAAP
YoY -3.5% +96.1% +42.7% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,308 855 998 442 24.4 8.3 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 10,346 197 -27 -2,300 -126.7 1.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 10,363 295 670 -240 -13.2 2.8 May 15, 2024 J-GAAP
Apr - Jun, 2024 10,377 1,033 1,380 616 34.0 10.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 9,358 1,094 589 204 11.2 11.7 Nov 12, 2024 J-GAAP
YoY -9.2% +28.0% -41.0% -53.8% -53.9%

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