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

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%

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