NICHIRYO BAKING, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 10%

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Fri Jan 31, 2025 3:00 pm JST Earnings

2218 NICHIRYO BAKING CO.,LTD. 【J-GAAP】

Earnings Report

NICHIRYO BAKING CO.,LTD. <2218> [SSE] announced its financial results in the afternoon session on January 31st (15:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 10.2% from the same period last year to 263 million yen. The progress rate toward the full-year plan of 300 million yen was 87.7%, below the five-year average of 112.5%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the January to March period (4Q) is expected to turn into a profit of 37 million yen (compared to a loss of 4 million yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the ordinary profit grew 7.1% from the same period last year, reaching 75 million yen. The operating profit margin remained almost flat, changing from 1.3% in the same period last year to 1.4%.

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	13,111	171	217	136	65.2	93.5	Jan 27, 2023	J-GAAP
Apr - Dec, 2023	13,554	277	293	186	89.1	101.4	Jan 26, 2024	J-GAAP
Apr - Dec, 2024	13,932	250	263	163	77.9	87.7	Jan 31, 2025	J-GAAP
YoY	+2.8%	-9.7%	-10.2%	-12.4%	-12.5%

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	9,089	59	66	62	29.7	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,385	118	112	62	29.6	15	Oct 29, 2024	J-GAAP
YoY	+3.3%	+100.0%	+69.7%	0.0%	-0.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,390	187	232	53	25.7	15	Jul 28, 2023	J-GAAP
Mar, 2024	17,986	274	289	207	99.0	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	18,500	300	300	180	86.0	15	May 14, 2024	J-GAAP
YoY	+2.9%	+9.5%	+3.8%	-13.0%	-13.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	4,657	62	70	41	19.6	1.3	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	4,432	-3	-4	21	10.0	-0.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,376	38	46	31	15.3	0.9	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	4,739	144	142	87	41.8	3.0	Oct 29, 2024	J-GAAP
Oct - Dec, 2024	4,817	68	75	45	21.5	1.4	Jan 31, 2025	J-GAAP
YoY	+3.4%	+9.7%	+7.1%	+9.8%	+9.5%