NICHIWA SANGYO CO., LTD., First Half Ordinary Profit Increases by 3.3 times, Exceeds Full-Year Plan

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Tue Nov 12, 2024 3:30 pm JST Earnings

2055 NICHIWA SANGYO CO., LTD. 【J-GAAP】

Earnings Report

NICHIWA SANGYO CO., LTD. <2055> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.3 times that of the same period last year, reaching 545 million yen. The progress rate against the full-year plan of 400 million yen is 136.3%, already exceeding the target and also exceeding the five-year average of 95.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 145 million yen (compared to a profit of 748 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 21 times that of the same period last year, reaching 338 million yen. The operating profit margin improved from 0.0% in the same period last year to 2.6%.

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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	25,686	91	150	106	5.9	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	25,888	143	167	394	21.8	18.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	24,516	494	545	399	22.0	136.3	Nov 12, 2024	J-GAAP
YoY	-5.3%	+245.5%	+226.3%	+1.3%	+1.1%

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	ー	ー	ー	ー	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	24,516	494	545	399	22.0	0	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	26,999	762	748	147	8.1	8	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,484	-94	-145	-99	-5.5	6	Nov 12, 2024	J-GAAP
YoY	-5.6%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	54,659	-200	-99	157	8.7	6	May 12, 2023	J-GAAP
Mar, 2024	52,887	905	915	541	29.9	8	May 13, 2024	J-GAAP
Mar, 2025 Guidance	50,000	400	400	300	16.6	6	May 13, 2024	J-GAAP
YoY	-5.5%	-55.8%	-56.3%	-44.5%	-44.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,253	5	16	288	15.9	0.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,760	283	279	163	9.0	2.1	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	13,239	479	469	-16	-0.9	3.6	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,387	180	207	157	8.7	1.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,129	314	338	242	13.4	2.6	Nov 12, 2024	J-GAAP
YoY	-1.0%	+6,180.0%	+2,012.5%	-16.0%	-16.1%