NIHON FLUSH CO.,LTD., First Half Ordinary Profit Decreases by 57%, July-September Ordinary Profit Decreases by 72%

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Thu Nov 14, 2024 3:00 pm JST Earnings

7820 NIHON FLUSH CO.,LTD. 【J-GAAP】

Earnings Report

NIHON FLUSH CO.,LTD. <7820> [TSE-P] announced its financial results in the afternoon session on November 14th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 57.0% from the same period last year to 429 million yen. The progress rate against the 2.55 billion yen full-year plan was 16.8%, also falling below the five-year average of 38.8%.

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 surge by 2.3 times that of the same period last year, reaching 2.12 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 230 million yen, a 72.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.6% in the same period last year to 3.0%.

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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	11,646	847	1,002	701	28.0	37.6	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	11,583	740	998	638	25.9	52.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	10,463	253	429	255	11.2	16.8	Nov 14, 2024	J-GAAP
YoY	-9.7%	-65.8%	-57.0%	-60.0%	-56.6%

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	ー	ー	ー	ー	－	18	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	10,463	253	429	255	11.2	18	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	14,316	759	911	691	29.1	18	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,537	2,247	2,121	1,545	67.9	18	Nov 14, 2024	J-GAAP
YoY	+36.5%	+196.0%	+132.8%	+123.6%	+133.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	27,327	2,305	2,664	1,882	75.1	36	May 12, 2023	J-GAAP
Mar, 2024	25,899	1,499	1,909	1,329	56.0	36	May 15, 2024	J-GAAP
Mar, 2025 Guidance	30,000	2,500	2,550	1,800	79.1	36	May 15, 2024	J-GAAP
YoY	+15.8%	+66.8%	+33.6%	+35.4%	+41.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,353	704	831	547	22.2	9.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	7,601	819	838	581	24.2	10.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	6,715	-60	73	110	4.6	-0.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	4,175	66	199	136	6.0	1.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,288	187	230	119	5.2	3.0	Nov 14, 2024	J-GAAP
YoY	-14.5%	-73.4%	-72.3%	-78.2%	-76.4%