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

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%.

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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 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 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%

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