Nippon Soda Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 6%

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Wed Nov 13, 2024 3:30 pm JST Earnings

4041 Nippon Soda Co.,Ltd. 【J-GAAP】

Earnings Report

Nippon Soda Co.,Ltd. <4041> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 10.0% from the same period last year to 8.36 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 6.0%, from the previous forecast of 16.7 billion yen to 17.7 billion yen (compared to 23.2 billion yen in the previous period), and the declining rate is expected to decrease from 28.3% to 24.0%.

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 drop by 33.3% from the same period last year to 9.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 3.13 billion yen, a 0.7% decrease compared to the same period last year. However, the operating profit margin drastically improved from 5.0% in the same period last year to 11.5%.

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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	80,742	8,975	13,973	8,889	159.5	52.8	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	68,902	6,458	9,292	7,540	135.2	39.9	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	67,079	7,077	8,364	6,346	115.2	47.3	Nov 13, 2024	J-GAAP
YoY	-2.6%	+9.6%	-10.0%	-15.8%	-14.8%

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	65,000	4,200	5,100	4,000	72.6	60	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	67,079	7,077	8,364	6,346	115.2	60	Nov 13, 2024	J-GAAP
Revision Rate	+3.2%	+68.5%	+64.0%	+58.7%	+58.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	152,000	12,600	16,700	12,300	223.3	120	May 14, 2024	J-GAAP
Mar, 2025 New	153,000	13,500	17,700	12,600	228.8	120	Nov 13, 2024	J-GAAP
Revision Rate	+0.7%	+7.1%	+6.0%	+2.4%	+2.4%

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	85,527	7,414	14,005	9,072	163.1	60	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	85,921	6,423	9,336	6,254	113.5	60	Nov 13, 2024	J-GAAP
YoY	+0.5%	-13.4%	-33.3%	-31.1%	-30.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	172,811	16,893	26,456	16,692	299.4	120	May 10, 2023	J-GAAP
Mar, 2024	154,429	13,872	23,297	16,612	298.7	120	May 14, 2024	J-GAAP
Mar, 2025 Guidance	153,000	13,500	17,700	12,600	228.8	120	Nov 13, 2024	J-GAAP
YoY	-0.9%	-2.7%	-24.0%	-24.2%	-23.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	33,010	1,637	3,154	2,796	50.1	5.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	36,453	3,316	5,994	4,244	76.2	9.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	49,074	4,098	8,011	4,828	86.8	8.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	32,195	3,069	5,233	4,337	78.8	9.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	34,884	4,008	3,131	2,009	36.5	11.5	Nov 13, 2024	J-GAAP
YoY	+5.7%	+144.8%	-0.7%	-28.1%	-27.2%