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NEC, The Current Fiscal Year Net Income Revised Upward by 10%, Exceeded Record Profit Forecast

Thu Jan 30, 2025 3:30 pm JST Earnings

6701 NEC Corporation 【IFRS】

Earnings Report

NEC Corporation <6701> [TSE Prime] announced its financial results (based on IFRS) after the market closed on January 30th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.1 times that of the same period last year, reaching 71.5 billion yen.

In addition, the full-year consolidated net income has been revised upward 10.3%, from the previous forecast of 165 billion yen to 182 billion yen (compared to 149 billion yen in the previous period), increasing the growth rate from 10.4% to 21.7%. The company has further increased its previous forecast of record profits for the first time in four years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 11.2%, from the previous forecast of 151 billion yen to 168 billion yen (compared to 136 billion yen in the same period of the previous year), increasing the growth rate from 10.9% to 23.4%.

In the most recent three-month period, from October to December (3Q), the consolidated net income surged 2.7 times that of the same period last year, reaching 58 billion yen. The operating profit margin significantly improved from 5.0% in the same period last year to 9.8%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 2,269,259 57,099 57,603 26,369 19.5 34.4 Jan 30, 2023 IFRS
Apr - Dec, 2023 2,393,276 69,815 68,154 34,040 25.6 36.8 Jan 30, 2024 IFRS
Apr - Dec, 2024 2,321,809 126,166 114,329 71,554 53.7 Jan 30, 2025 IFRS
YoY -3.0% +80.7% +67.8% +110.2% +110.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 1,883,324 14 Oct 29, 2024 IFRS
Oct - Mar, 2024 New 1,923,324 14 Jan 30, 2025 IFRS
Revision Rate +2.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 3,370,000 28 Apr 26, 2024 IFRS
Mar, 2025 New 3,410,000 28 Jan 30, 2025 IFRS
Revision Rate +1.2%

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 1,928,461 160,017 153,034 136,607 102.6 12 Apr 26, 2024 IFRS
Oct - Mar, 2024 Guidance 1,923,324 14 Jan 30, 2025 IFRS
YoY -0.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 3,313,018 170,447 167,671 114,500 84.9 22 Apr 28, 2023 IFRS
Mar, 2024 3,477,262 188,012 185,011 149,521 112.3 24 Apr 26, 2024 IFRS
Mar, 2025 Guidance 3,410,000 28 Jan 30, 2025 IFRS
YoY -1.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 844,475 41,820 36,177 21,126 15.9 5.0 Jan 30, 2024 IFRS
Jan - Mar, 2024 1,083,986 118,197 116,857 115,481 86.7 10.9 Apr 26, 2024 IFRS
Apr - Jun, 2024 690,296 4,540 -3,323 -5,836 -4.4 0.7 Jul 30, 2024 IFRS
Jul - Sep, 2024 796,380 40,153 30,000 19,296 14.5 5.0 Oct 29, 2024 IFRS
Oct - Dec, 2024 835,133 81,473 87,652 58,094 43.6 9.8 Jan 30, 2025 IFRS
YoY -1.1% +94.8% +142.3% +175.0% +174.9%

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