THE NIHON SEIMA CO.,LTD, The Current Fiscal Year Ordinary Profit Revised Upward by 37%

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Tue Nov 12, 2024 4:00 pm JST Earnings

3306 THE NIHON SEIMA CO.,LTD 【J-GAAP】

Earnings Report

THE NIHON SEIMA CO.,LTD <3306> [TSE-S] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 26.1% from the same period last year, reaching 179 million yen, resulting in an increase in profits compared to the previous forecast of a 28.9% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 37.2%, from the previous forecast of 226 million yen to 310 million yen (compared to 321 million yen in the previous period), and the declining rate is expected to decrease from 29.6% to 3.4%.

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 decrease by 26.8% from the same period last year to 131 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 55.4% from the same period last year, reaching 87 million yen. The operating profit margin improved from 5.1% in the same period last year to 6.8%.

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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	1,825	76	87	51	14.0	48.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,089	133	142	54	14.8	44.2	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	2,322	162	179	76	20.9	57.7	Nov 12, 2024	J-GAAP
YoY	+11.2%	+21.8%	+26.1%	+40.7%	+40.7%

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	1,932	99	101	54	14.7	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	2,322	162	179	76	20.9	－	Nov 12, 2024	J-GAAP
Revision Rate	+20.2%	+63.6%	+77.2%	+40.7%	+41.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	3,886	226	226	132	30.0	4	May 13, 2024	J-GAAP
Mar, 2025 New	4,493	311	310	167	37.9	4	Nov 12, 2024	J-GAAP
Revision Rate	+15.6%	+37.6%	+37.2%	+26.5%	+26.5%

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	2,245	172	179	73	20.1	4	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,171	149	131	91	20.7	4	Nov 12, 2024	J-GAAP
YoY	-3.3%	-13.4%	-26.8%	+24.7%	+3.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,733	164	178	95	26.0	3	May 12, 2023	J-GAAP
Mar, 2024	4,334	305	321	127	34.9	4	May 13, 2024	J-GAAP
Mar, 2025 Guidance	4,493	311	310	167	37.9	4	Nov 12, 2024	J-GAAP
YoY	+3.7%	+2.0%	-3.4%	+31.5%	+8.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,011	52	56	20	5.5	5.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	1,136	116	124	50	13.7	10.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,109	56	55	23	6.3	5.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,131	81	92	42	11.5	7.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,191	81	87	34	9.3	6.8	Nov 12, 2024	J-GAAP
YoY	+17.8%	+55.8%	+55.4%	+70.0%	+69.9%