NIKKO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 12%, Dividend Revised Upward by 2 yen

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Wed Nov 13, 2024 3:30 pm JST Earnings

6306 NIKKO CO.,LTD. 【J-GAAP】

Earnings Report

NIKKO CO.,LTD. <6306> [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) surged by 3.2 times that of the same period last year, reaching 1.46 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 11.5%, from the previous forecast of 2.6 billion yen to 2.9 billion yen (compared to 2.14 billion yen in the previous period), increasing the growth rate from 21.3% to 35.3%.

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 decrease by 15.2% from the same period last year to 1.43 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 30 yen to 32 yen (compared to 30 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.2 times that of the same period last year, reaching 843 million yen. The operating profit margin improved from 4.3% in the same period last year to 6.4%.

Kabutan News

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	18,760	399	548	259	6.8	43.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	16,982	269	455	348	9.1	21.2	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	22,634	1,280	1,468	881	23.0	50.6	Nov 13, 2024	J-GAAP
YoY	+33.3%	+375.8%	+222.6%	+153.2%	+152.7%

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	23,000	1,300	1,300	850	22.1	15	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	22,634	1,280	1,468	881	23.0	15	Nov 13, 2024	J-GAAP
Revision Rate	-1.6%	-1.5%	+12.9%	+3.6%	+4.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	48,000	2,600	2,600	1,700	44.2	30	May 15, 2024	J-GAAP
Mar, 2025 New	48,000	2,700	2,900	2,000	52.0	32	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	+3.8%	+11.5%	+17.6%	+17.6%

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	27,115	1,699	1,689	964	25.2	15	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	25,366	1,420	1,432	1,119	29.1	17	Nov 13, 2024	J-GAAP
YoY	-6.5%	-16.4%	-15.2%	+16.1%	+15.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,665	1,028	1,255	1,020	26.7	30	May 15, 2023	J-GAAP
Mar, 2024	44,097	1,968	2,144	1,312	34.3	30	May 15, 2024	J-GAAP
Mar, 2025 Guidance	48,000	2,700	2,900	2,000	52.0	32	Nov 13, 2024	J-GAAP
YoY	+8.9%	+37.2%	+35.3%	+52.4%	+51.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,536	368	388	321	8.4	4.3	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	10,637	449	520	246	6.4	4.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	16,478	1,250	1,169	718	18.7	7.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	9,849	462	625	337	8.8	4.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,785	818	843	544	14.2	6.4	Nov 13, 2024	J-GAAP
YoY	+49.8%	+122.3%	+117.3%	+69.5%	+69.2%