NITCHO CORPORATION, 54% Decrease in Ordinary Profit for The Current Fiscal Year, Despite Last Fiscal Year's Dividend Increase, This Fiscal Year to Decrease Dividend

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Wed Nov 13, 2024 4:00 pm JST Earnings

2961 NITCHO CORPORATION 【J-GAAP】

Earnings Report

NITCHO CORPORATION <2961> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The ordinary profit (non-consolidated) for the fiscal year ending September 2024 expanded to 89.9% from the previous period to 1.06 billion yen. However, for the fiscal year ending September 2025 is also bleak, with an expected significant drop by 54.2% from the previous period to 490 million yen.

At the same time, the company increased the annual dividend for the previous term from 130 yen to 160 yen (compared to 100 yen in the prior term), and has decided to reduce the dividend this fiscal year to 100 yen, a decrease of 60 yen from the previous fiscal year.

In the most recent three-month period, from July to September (4Q), the ordinary profit grew by 8.3% from the same period last year, reaching 874 million yen. The operating profit margin rose from 10.6% in the same period last year to 12.6%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2022	15,467	343	340	205	185.6	120	Nov 14, 2022	J-GAAP
Sep, 2023	17,642	541	563	332	292.6	100	Nov 14, 2023	J-GAAP
Sep, 2024	18,443	1,058	1,069	700	629.3	160	Nov 13, 2024	J-GAAP
YoY	+4.5%	+95.6%	+89.9%	+110.8%	+115.1%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2024 Guidance	18,160	890	904	560	504.6	130	Aug 9, 2024	J-GAAP
Sep, 2024 Results	18,443	1,058	1,069	700	629.3	160	Nov 13, 2024	J-GAAP
Revision Rate	+1.6%	+18.9%	+18.3%	+25.0%	+24.7%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	9,370	611	618	400	358.7	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	ー	ー	－	0	Nov 13, 2024	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep, 2023	17,642	541	563	332	292.6	100	Nov 14, 2023	J-GAAP
Sep, 2024	18,443	1,058	1,069	700	629.3	160	Nov 13, 2024	J-GAAP
Sep, 2025 Guidance	17,000	480	490	300	270.4	100	Nov 13, 2024	J-GAAP
YoY	-7.8%	-54.6%	-54.2%	-57.1%	-57.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,539	802	807	566	498.9	10.6	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	2,422	-258	-255	-189	-169.3	-10.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	6,948	869	873	589	528.2	12.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,170	-426	-423	-308	-279.4	-19.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,903	873	874	608	546.6	12.6	Nov 13, 2024	J-GAAP
YoY	-8.4%	+8.9%	+8.3%	+7.4%	+9.6%