Nippon Shinyaku Co.,Ltd., The Current Fiscal Year Net Income Revised Upward by 3%, Adds to Record High Profit Forecast

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Wed Nov 13, 2024 3:30 pm JST Earnings

4516 Nippon Shinyaku Co.,Ltd. 【IFRS】

Earnings Report

Nippon Shinyaku Co.,Ltd. <4516> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 13th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 16.3 billion yen, a 1.2% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 16.5% decrease.

In addition, the full-year consolidated net income has been revised upward by 3.4%, from the previous forecast of 29 billion yen to 30 billion yen (compared to 25.8 billion yen in the previous period), increasing the growth rate from 12.2% to 16.0%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 40.8% from the same period last year, reaching 13.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 6.1 billion yen, a 17.7% decrease compared to the same period last year. The operating profit margin significantly dropped from 26.8% in the same period last year to 16.9%.

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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	71,136	19,161	19,398	15,222	226.0	63.6	Nov 10, 2022	IFRS
Apr - Sep, 2023	73,314	20,878	21,146	16,176	240.2	62.9	Nov 13, 2023	IFRS
Apr - Sep, 2024	79,332	17,867	18,198	16,373	243.1	54.2	Nov 13, 2024	IFRS
YoY	+8.2%	-14.4%	-13.9%	+1.2%	+1.2%

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	75,800	15,000	15,200	13,500	200.4	62	Aug 7, 2024	IFRS
Apr - Sep, 2024 Results	79,332	17,867	18,198	16,373	243.1	62	Nov 13, 2024	IFRS
Revision Rate	+4.7%	+19.1%	+19.7%	+21.3%	+21.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	154,000	32,000	32,500	29,000	430.4	124	Aug 7, 2024	IFRS
Mar, 2025 New	157,000	33,000	33,600	30,000	445.2	124	Nov 13, 2024	IFRS
Revision Rate	+1.9%	+3.1%	+3.4%	+3.4%	+3.4%

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	74,941	12,417	12,470	9,675	143.7	62	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	77,668	15,133	15,402	13,627	202.2	62	Nov 13, 2024	IFRS
YoY	+3.6%	+21.9%	+23.5%	+40.8%	+40.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	144,175	30,049	30,489	22,812	338.7	114	May 11, 2023	IFRS
Mar, 2024	148,255	33,295	33,616	25,851	383.8	124	May 10, 2024	IFRS
Mar, 2025 Guidance	157,000	33,000	33,600	30,000	445.2	124	Nov 13, 2024	IFRS
YoY	+5.9%	-0.9%	0.0%	+16.0%	+16.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	36,302	9,715	9,706	7,427	110.3	26.8	Nov 13, 2023	IFRS
Oct - Dec, 2023	39,414	9,572	9,827	7,826	116.2	24.3	Feb 9, 2024	IFRS
Jan - Mar, 2024	35,527	2,845	2,643	1,849	27.5	8.0	May 10, 2024	IFRS
Apr - Jun, 2024	39,131	11,078	11,411	10,264	152.4	28.3	Aug 7, 2024	IFRS
Jul - Sep, 2024	40,201	6,789	6,787	6,109	90.7	16.9	Nov 13, 2024	IFRS
YoY	+10.7%	-30.1%	-30.1%	-17.7%	-17.7%