NISSAN TOKYO SALES HOLDINGS CO., LTD., First Half Ordinary Profit Decreases by 10%

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Wed Nov 13, 2024 3:30 pm JST Earnings

8291 NISSAN TOKYO SALES HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

NISSAN TOKYO SALES HOLDINGS CO., LTD. <8291> [TSE-S] 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 9.6% from the same period last year to 3.76 billion yen. However, The progress rate against the 7 billion yen full-year plan was 53.8%, also surpassing the five-year average of 38.1%.

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 decrease by 22.9% from the same period last year to 3.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.94 billion yen, a 17.1% decrease compared to the same period last year. The operating profit margin worsened from 6.6% in the same period last year to 5.8%.

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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	66,681	3,090	3,001	1,844	27.8	49.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	74,358	4,393	4,170	2,443	36.8	49.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	70,043	3,796	3,768	2,485	37.4	53.8	Nov 13, 2024	J-GAAP
YoY	-5.8%	-13.6%	-9.6%	+1.7%	+1.7%

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	ー	ー	ー	ー	－	12	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	70,043	3,796	3,768	2,485	37.4	12	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	74,614	4,316	4,194	4,894	73.7	15	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	79,957	3,704	3,232	2,015	33.9	12	Nov 13, 2024	J-GAAP
YoY	+7.2%	-14.2%	-22.9%	-58.8%	-54.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	137,659	6,399	6,090	3,261	49.2	15	May 12, 2023	J-GAAP
Mar, 2024	148,972	8,709	8,364	7,337	110.5	24	May 15, 2024	J-GAAP
Mar, 2025 Guidance	150,000	7,500	7,000	4,500	75.7	24	May 15, 2024	J-GAAP
YoY	+0.7%	-13.9%	-16.3%	-38.7%	-31.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	38,711	2,566	2,351	1,009	15.2	6.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	36,897	2,311	2,343	4,026	60.6	6.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	37,717	2,005	1,851	868	13.1	5.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	34,355	1,725	1,820	1,180	17.8	5.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	35,688	2,071	1,948	1,305	19.7	5.8	Nov 13, 2024	J-GAAP
YoY	-7.8%	-19.3%	-17.1%	+29.3%	+29.3%