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

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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%