Nihon Tokushu Toryo Co., Ltd., The Current Fiscal Year Net Income Revised Upward by 3%

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Wed Nov 13, 2024 4:00 pm JST Earnings

4619 Nihon Tokushu Toryo Co., Ltd. 【J-GAAP】

Earnings Report

Nihon Tokushu Toryo Co., Ltd. <4619> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.6% from the same period last year, reaching 2.11 billion yen.

In addition, the full-year consolidated net income has been revised upward by 3.0%, from the previous forecast of 3.3 billion yen to 3.4 billion yen (compared to 3.94 billion yen in the previous period), and the declining rate is expected to decrease from 16.4% to 13.9%.

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 drop by 40.2% from the same period last year to 1.28 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 1 billion yen, a 1.8% decrease compared to the same period last year. However, the operating profit margin improved from 4.8% in the same period last year to 6.4%.

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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	27,916	2	972	339	15.6	30.9	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	31,348	1,404	2,590	1,798	82.7	43.4	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	32,567	1,916	2,980	2,114	97.2	61.4	Nov 13, 2024	J-GAAP
YoY	+3.9%	+36.5%	+15.1%	+17.6%	+17.5%

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	31,500	1,550	2,750	1,900	87.3	22	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	32,567	1,916	2,980	2,114	97.2	22	Nov 13, 2024	J-GAAP
Revision Rate	+3.4%	+23.6%	+8.4%	+11.3%	+11.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	62,600	3,100	4,850	3,300	151.7	48	Aug 8, 2024	J-GAAP
Mar, 2025 New	63,700	3,250	4,850	3,400	156.3	48	Nov 13, 2024	J-GAAP
Revision Rate	+1.8%	+4.8%	0.0%	+3.0%	+3.0%

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	33,345	2,501	3,373	2,149	98.9	25	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	31,133	1,334	1,870	1,286	59.1	26	Nov 13, 2024	J-GAAP
YoY	-6.6%	-46.7%	-44.6%	-40.2%	-40.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	60,738	1,631	3,141	2,103	96.8	42	May 10, 2023	J-GAAP
Mar, 2024	64,693	3,905	5,963	3,947	181.6	46	May 8, 2024	J-GAAP
Mar, 2025 Guidance	63,700	3,250	4,850	3,400	156.3	48	Nov 13, 2024	J-GAAP
YoY	-1.5%	-16.8%	-18.7%	-13.9%	-13.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,962	763	1,375	1,018	46.8	4.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	17,629	1,479	1,797	1,216	55.9	8.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	15,716	1,022	1,576	933	42.9	6.5	May 8, 2024	J-GAAP
Apr - Jun, 2024	16,356	884	1,645	1,114	51.2	5.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,211	1,032	1,335	1,000	46.0	6.4	Nov 13, 2024	J-GAAP
YoY	+1.6%	+35.3%	-2.9%	-1.8%	-1.8%