Naikai Zosen, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 63%, Exceeds Full-Year Plan

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Wed Feb 5, 2025 3:30 pm JST Earnings

7018 Naikai Zosen Corporation 【J-GAAP】

Earnings Report

Naikai Zosen Corporation <7018> [TSE Std] announced its financial results after the market closed on February 5th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 62.7% from the same period last year to 1 billion yen. The progress rate toward the full-year plan of 0.75 billion yen is 133.5%, already exceeding the target and also exceeding the five-year average of 85.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the January to March period (4Q) is expected to turn into a loss of 0.25 billion yen (compared to a profit of 0.4 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit/loss turned to a profit of 0.62 billion yen (compared to a loss of 0.01 billion yen in the same period last year). The operating profit margin significantly improved from 0.2% in the same period last year to 4.7%.

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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	26,841	712	614	780	460.6	96.2	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	36,025	2,712	2,686	2,226	1,313.4	87.0	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	34,788	1,200	1,001	884	521.9	133.5	Feb 5, 2025	J-GAAP
YoY	-3.4%	-55.8%	-62.7%	-60.3%	-60.3%

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	20,041	492	390	64	37.8	100	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	22,213	264	373	343	202.4	40	Nov 7, 2024	J-GAAP
YoY	+10.8%	-46.3%	-4.4%	+435.9%	+435.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	37,617	765	638	737	435.1	40	May 12, 2023	J-GAAP
Mar, 2024	46,383	3,183	3,088	2,261	1,333.9	100	May 10, 2024	J-GAAP
Mar, 2025 Guidance	45,000	900	750	700	413.0	40	May 10, 2024	J-GAAP
YoY	-3.0%	-71.7%	-75.7%	-69.0%	-69.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	9,683	21	-12	29	17.1	0.2	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	10,358	471	402	35	20.7	4.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	13,459	257	221	209	123.7	1.9	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	9,328	379	156	148	87.4	4.1	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	12,001	564	624	527	311.1	4.7	Feb 5, 2025	J-GAAP
YoY	+23.9%	+2,585.7%	－	+1,717.2%	+1,718.4%