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NITTOKU CO., LTD., First Half Ordinary Profit Decreases by 97%, July-September Ordinary Profit Decreases by 68%

Wed Nov 13, 2024 3:30 pm JST Earnings

6145 NITTOKU CO., LTD. 【J-GAAP】

Earnings Report

NITTOKU CO., LTD. <6145> [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) significantly dropped by 97.5% from the same period last year to 43 million yen. The progress rate against the 2.55 billion yen full-year plan was 1.7%, also falling below the five-year average of 45.4%.

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 2.4% from the same period last year to 2.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 527 million yen, a 67.8% decrease compared to the same period last year. The operating profit margin sharply declined from 18.4% in the same period last year to 6.5%.

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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 15,553 1,327 1,407 930 51.5 45.1 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 13,162 1,662 1,711 1,103 61.1 40.0 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 14,244 39 43 341 18.9 1.7 Nov 13, 2024 J-GAAP
YoY +8.2% -97.7% -97.5% -69.1% -69.1%

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 13,500 10 20 190 10.5 21 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 14,244 39 43 341 18.9 21 Nov 13, 2024 J-GAAP
Revision Rate +5.5% +290.0% +115.0% +79.5% +79.8%

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 17,641 2,502 2,569 1,641 90.9 17 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 19,756 2,511 2,507 1,559 92.4 21 Nov 13, 2024 J-GAAP
YoY +12.0% +0.4% -2.4% -5.0% +1.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 29,461 3,096 3,119 2,224 123.1 30 May 12, 2023 J-GAAP
Mar, 2024 30,803 4,164 4,280 2,744 151.9 34 May 10, 2024 J-GAAP
Mar, 2025 Guidance 34,000 2,550 2,550 1,900 112.6 42 Aug 9, 2024 J-GAAP
YoY +10.4% -38.8% -40.4% -30.8% -25.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 8,967 1,653 1,639 1,086 60.1 18.4 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 6,176 329 404 246 13.6 5.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 11,465 2,173 2,165 1,395 77.2 19.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 4,319 -611 -484 -345 -19.2 -14.1 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 9,925 650 527 686 38.0 6.5 Nov 13, 2024 J-GAAP
YoY +10.7% -60.7% -67.8% -36.8% -36.8%

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