Naigai Tec Corporation, First Half Ordinary Profit Decreases by 21%

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Wed Nov 13, 2024 3:45 pm JST Earnings

3374 Naigai Tec Corporation 【J-GAAP】

Earnings Report

Naigai Tec Corporation <3374> [TSE-S] announced its financial results after the market closed on November 13th (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.5% from the same period last year to 403 million yen. The progress rate against the 1.52 billion yen full-year plan was 26.5%, also falling below the five-year average of 41.4%.

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 expand by 63.8% from the same period last year, reaching 1.11 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.9% from the same period last year, reaching 200 million yen. The operating profit margin improved from 1.6% in the same period last year to 2.6%.

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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	23,243	1,378	1,374	918	263.2	58.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	20,478	521	507	324	92.8	42.6	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	16,161	423	403	252	72.3	26.5	Nov 13, 2024	J-GAAP
YoY	-21.1%	-18.8%	-20.5%	-22.2%	-22.1%

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	18,130	390	380	234	66.9	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	16,161	423	403	252	72.3	0	Nov 13, 2024	J-GAAP
Revision Rate	-10.9%	+8.5%	+6.1%	+7.7%	+8.1%

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	18,535	697	682	524	150.0	93	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	27,639	1,117	1,117	778	222.4	99	Nov 13, 2024	J-GAAP
YoY	+49.1%	+60.3%	+63.8%	+48.5%	+48.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,281	2,349	2,336	1,638	469.4	118	May 12, 2023	J-GAAP
Mar, 2024	39,013	1,218	1,189	848	242.7	93	May 15, 2024	J-GAAP
Mar, 2025 Guidance	43,800	1,540	1,520	1,030	294.4	99	May 15, 2024	J-GAAP
YoY	+12.3%	+26.4%	+27.8%	+21.5%	+21.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,579	150	138	94	26.9	1.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	9,824	292	288	190	54.4	3.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	8,711	405	394	334	95.6	4.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	8,115	210	203	88	25.2	2.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	8,046	213	200	164	47.0	2.6	Nov 13, 2024	J-GAAP
YoY	-16.0%	+42.0%	+44.9%	+74.5%	+74.6%