NIPPON PRIMEX INC., First Half Ordinary Profit Decreases by 39%, July-September Ordinary Profit Turns to Loss

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Wed Nov 13, 2024 3:00 pm JST Earnings

2795 NIPPON PRIMEX INC. 【J-GAAP】

Earnings Report

NIPPON PRIMEX INC. <2795> [TSE-S] announced its financial results in the afternoon session on November 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 39.0% from the same period last year to 235 million yen. The progress rate against the 634 million yen full-year plan was 37.1%, also falling below the five-year average of 46.0%.

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 grow by 6.4% from the same period last year, reaching 399 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 12 million yen (compared to a profit of 156 million yen in the same period last year). However, the operating profit margin improved from 7.0% in the same period last year to 8.6%.

Kabutan News

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	2,911	225	396	245	46.7	62.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	3,214	243	385	264	50.3	50.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	3,634	294	235	168	32.0	37.1	Nov 13, 2024	J-GAAP
YoY	+13.1%	+21.0%	-39.0%	-36.4%	-36.5%

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 14, 2024	J-GAAP
Apr - Sep, 2024 Results	3,634	294	235	168	32.0	0	Nov 13, 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	3,726	333	375	240	45.6	25	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,466	295	399	251	47.7	25	Nov 13, 2024	J-GAAP
YoY	-7.0%	-11.4%	+6.4%	+4.6%	+4.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,172	522	634	396	75.4	20	May 12, 2023	J-GAAP
Mar, 2024	6,940	576	760	504	95.8	25	May 14, 2024	J-GAAP
Mar, 2025 Guidance	7,100	589	634	419	79.6	25	May 14, 2024	J-GAAP
YoY	+2.3%	+2.3%	-16.6%	-16.9%	-16.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,646	116	156	112	21.4	7.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,880	180	134	86	16.4	9.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,846	153	241	154	29.3	8.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,813	138	247	180	34.3	7.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	1,821	156	-12	-12	-2.3	8.6	Nov 13, 2024	J-GAAP
YoY	+10.6%	+34.5%	－	－	－