NITTO KOHKI CO.,LTD., First Half Ordinary Profit Decreases by 15%, July-September Ordinary Profit Decreases by 14%

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Thu Nov 14, 2024 4:40 pm JST Earnings

6151 NITTO KOHKI CO.,LTD. 【J-GAAP】

Earnings Report

NITTO KOHKI CO.,LTD. <6151> [TSE-P] announced its financial results after the market closed on November 14th (16:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 15.3% from the same period last year to 1.47 billion yen. The progress rate against the 3.16 billion yen full-year plan was 46.7%, also falling below the five-year average of 51.6%.

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 56.2% from the same period last year, reaching 1.68 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 652 million yen, a 13.8% decrease compared to the same period last year. The operating profit margin decreased from 10.3% in the same period last year to 9.7%.

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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	13,986	1,688	1,829	1,232	60.7	50.6	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	13,941	1,641	1,743	1,234	62.3	61.8	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	13,497	1,387	1,476	938	50.1	46.7	Nov 14, 2024	J-GAAP
YoY	-3.2%	-15.5%	-15.3%	-24.0%	-19.5%

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	13,777	1,383	1,442	979	52.3	21	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	13,497	1,387	1,476	938	50.1	21	Nov 14, 2024	J-GAAP
Revision Rate	-2.0%	+0.3%	+2.4%	-4.2%	-4.2%

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	13,131	1,039	1,078	607	30.8	15	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,743	1,673	1,684	1,282	68.5	27	Nov 14, 2024	J-GAAP
YoY	+12.3%	+61.0%	+56.2%	+111.2%	+122.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,091	3,459	3,612	2,489	122.8	53	May 10, 2023	J-GAAP
Mar, 2024	27,072	2,680	2,821	1,841	93.5	43	May 9, 2024	J-GAAP
Mar, 2025 Guidance	28,240	3,060	3,160	2,220	118.6	48	May 9, 2024	J-GAAP
YoY	+4.3%	+14.2%	+12.0%	+20.6%	+26.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,873	708	756	608	30.7	10.3	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	6,666	477	556	391	19.8	7.2	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	6,465	562	522	216	11.0	8.7	May 9, 2024	J-GAAP
Apr - Jun, 2024	6,694	726	824	517	27.6	10.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	6,803	661	652	421	22.5	9.7	Nov 14, 2024	J-GAAP
YoY	-1.0%	-6.6%	-13.8%	-30.8%	-26.7%