NIHON FLUSH, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 16% Decrease

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Mon Feb 10, 2025 3:00 pm JST Earnings

7820 NIHON FLUSH CO.,LTD. 【J-GAAP】

Earnings Report

NIHON FLUSH CO.,LTD. <7820> [TSE Prime] announced its financial results in the afternoon session on February 10th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 39.2% from the same period last year to 1.11 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 37.3%, from the previous forecast of 2.55 billion yen to 1.6 billion yen (compared to 1.9 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 16.2% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 44.8%, from the previous forecast of 2.12 billion yen to 1.17 billion yen (compared to 0.91 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 2.3 times to 28.5%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.68 billion yen, a 18.0% decrease compared to the same period last year. The operating profit margin significantly dropped from 10.8% in the same period last year to 7.5%.

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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	20,244	1,726	2,073	1,471	58.7	77.8	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	19,184	1,559	1,836	1,219	50.7	96.2	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	17,837	807	1,116	749	33.0	69.8	Feb 10, 2025	J-GAAP
YoY	-7.0%	-48.2%	-39.2%	-38.6%	-35.0%

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	19,537	2,247	2,121	1,545	67.9	18	Nov 14, 2024	J-GAAP
Oct - Mar, 2024 New	13,737	1,147	1,171	895	39.3	18	Feb 10, 2025	J-GAAP
Revision Rate	-29.7%	-49.0%	-44.8%	-42.1%	-42.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	30,000	2,500	2,550	1,800	79.1	36	May 15, 2024	J-GAAP
Mar, 2025 New	24,200	1,400	1,600	1,150	50.5	36	Feb 10, 2025	J-GAAP
Revision Rate	-19.3%	-44.0%	-37.3%	-36.1%	-36.1%

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	14,316	759	911	691	29.1	18	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,737	1,147	1,171	895	39.3	18	Feb 10, 2025	J-GAAP
YoY	-4.0%	+51.1%	+28.5%	+29.5%	+35.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	27,327	2,305	2,664	1,882	75.1	36	May 12, 2023	J-GAAP
Mar, 2024	25,899	1,499	1,909	1,329	56.0	36	May 15, 2024	J-GAAP
Mar, 2025 Guidance	24,200	1,400	1,600	1,150	50.5	36	Feb 10, 2025	J-GAAP
YoY	-6.6%	-6.6%	-16.2%	-13.5%	-9.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	7,601	819	838	581	24.2	10.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	6,715	-60	73	110	4.6	-0.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	4,175	66	199	136	6.0	1.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,288	187	230	119	5.2	3.0	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	7,374	554	687	494	21.7	7.5	Feb 10, 2025	J-GAAP
YoY	-3.0%	-32.4%	-18.0%	-15.0%	-10.1%