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NIRECO, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 22% Increase, Dividend Revised Upward by 15 yen

Thu Feb 6, 2025 4:00 pm JST Earnings

6863 NIRECO CORPORATION 【J-GAAP】

Earnings Report

NIRECO CORPORATION <6863> [TSE Std] announced its financial results after the market closed on February 6th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 24.7% from the same period last year, reaching 1.39 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 22.4%, from the previous forecast of 1.47 billion yen to 1.8 billion yen (compared to 1.47 billion yen in the previous period), turning to a 22.4% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 52.8%, from the previous forecast of 0.62 billion yen to 0.95 billion yen (compared to 0.88 billion yen in the same period of the previous year), turning to a 8.4% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 64 yen to 79 yen (compared to 62 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 3.8% from the same period last year, reaching 0.54 billion yen. However, the operating profit margin decreased from 19.9% in the same period last year to 18.9%.

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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 6,357 688 757 499 68.2 60.3 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 7,041 1,035 1,117 775 105.4 76.0 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 7,570 1,292 1,393 1,013 137.0 77.4 Feb 6, 2025 J-GAAP
YoY +7.5% +24.8% +24.7% +30.7% +29.9%

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 5,092 612 625 500 67.5 40 Nov 13, 2024 J-GAAP
Oct - Mar, 2024 New 5,692 892 955 740 99.8 55 Feb 6, 2025 J-GAAP
Revision Rate +11.8% +45.8% +52.8% +48.0% +48.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 10,000 1,400 1,470 1,050 141.7 64 Nov 13, 2024 J-GAAP
Mar, 2025 New 10,600 1,680 1,800 1,290 174.0 79 Feb 6, 2025 J-GAAP
Revision Rate +6.0% +20.0% +22.4% +22.9% +22.9%

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 5,330 850 881 641 87.1 42 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,692 892 955 740 99.8 55 Feb 6, 2025 J-GAAP
YoY +6.8% +4.9% +8.4% +15.4% +14.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,155 1,182 1,255 860 117.4 47 May 12, 2023 J-GAAP
Mar, 2024 9,861 1,386 1,470 1,011 137.4 62 May 14, 2024 J-GAAP
Mar, 2025 Guidance 10,600 1,680 1,800 1,290 174.0 79 Feb 6, 2025 J-GAAP
YoY +7.5% +21.2% +22.4% +27.6% +26.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 2,510 499 528 405 55.1 19.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 2,820 351 353 236 32.1 12.4 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,389 301 359 206 28.0 12.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,519 487 486 344 46.6 19.3 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 2,662 504 548 463 62.6 18.9 Feb 6, 2025 J-GAAP
YoY +6.1% +1.0% +3.8% +14.3% +13.6%

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