NittoBest Corporation, First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

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Tue Nov 12, 2024 3:30 pm JST Earnings

2877 NittoBest Corporation 【J-GAAP】

Earnings Report

NittoBest Corporation <2877> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 9 million yen (compared to a profit of 155 million yen in the same period last year).

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 55.8% from the same period last year, reaching 609 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 4 million yen (compared to a profit of 20 million yen in the same period last year). However, the operating profit/loss margin remained almost flat, changing from -0.1% in the same period last year to -0.0%.

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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	24,941	-304	-287	-239	-19.8	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	26,701	115	155	84	7.0	28.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	27,315	2	-9	-40	-3.3	ー	Nov 12, 2024	J-GAAP
YoY	+2.3%	-98.3%	－	－	－

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	27,315	2	-9	-40	-3.3	0	Oct 28, 2024	J-GAAP
Apr - Sep, 2024 Results	27,315	2	-9	-40	-3.3	0	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
Oct - Mar, 2023	27,570	389	391	327	27.1	12	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,685	598	609	490	40.5	12	Oct 28, 2024	J-GAAP
YoY	+4.0%	+53.7%	+55.8%	+49.8%	+49.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	51,878	380	434	243	20.1	12	May 12, 2023	J-GAAP
Mar, 2024	54,271	504	546	411	34.0	12	May 9, 2024	J-GAAP
Mar, 2025 Guidance	56,000	600	600	450	37.2	12	Oct 28, 2024	J-GAAP
YoY	+3.2%	+19.0%	+9.9%	+9.5%	+9.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,438	-14	20	-7	-0.6	-0.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,550	464	453	280	23.2	3.2	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	13,020	-75	-62	47	3.9	-0.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	13,447	5	-5	-8	-0.7	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	13,868	-3	-4	-32	-2.7	0.0	Nov 12, 2024	J-GAAP
YoY	+3.2%	+78.6%	－	-357.1%	-356.9%