Niigata Kotsu, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 3% Increase

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Wed Feb 12, 2025 2:00 pm JST Earnings

9017 Niigata Kotsu Co.,Ltd. 【J-GAAP】

Earnings Report

Niigata Kotsu Co.,Ltd. <9017> [TSE Std] announced its financial results in the afternoon session on February 12th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 18.1% from the same period last year, reaching 1.28 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 35.0%, from the previous forecast of 1 billion yen to 1.35 billion yen (compared to 1.31 billion yen in the previous period), turning to a 2.7% 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) has been revised upward 3.4 times, from the previous forecast of 0.14 billion yen to 0.49 billion yen (compared to 0.67 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 78.4% to 26.7%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.42 billion yen, a 4.2% decrease compared to the same period last year. The operating profit margin decreased from 10.3% in the same period last year to 10.0%.

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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	13,189	1,248	1,023	808	210.4	105.4	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	14,706	1,382	1,086	895	233.2	82.6	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	15,171	1,611	1,283	913	237.9	95.0	Feb 12, 2025	J-GAAP
YoY	+3.2%	+16.6%	+18.1%	+2.0%	+2.0%

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	9,683	312	146	11	2.9	10	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	9,883	712	496	211	54.9	10	Feb 12, 2025	J-GAAP
Revision Rate	+2.1%	+128.2%	+239.7%	+1,818.2%	+1,820.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,600	1,400	1,000	600	156.2	10	May 15, 2024	J-GAAP
Mar, 2025 New	19,800	1,800	1,350	800	208.3	10	Feb 12, 2025	J-GAAP
Revision Rate	+1.0%	+28.6%	+35.0%	+33.3%	+33.3%

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	9,832	830	677	492	128.2	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,883	712	496	211	54.9	10	Feb 12, 2025	J-GAAP
YoY	+0.5%	-14.2%	-26.7%	-57.1%	-57.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,469	1,372	971	897	233.7	0	May 15, 2023	J-GAAP
Mar, 2024	19,417	1,682	1,315	1,064	277.2	10	May 15, 2024	J-GAAP
Mar, 2025 Guidance	19,800	1,800	1,350	800	208.3	10	Feb 12, 2025	J-GAAP
YoY	+2.0%	+7.0%	+2.7%	-24.8%	-24.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	5,121	530	448	323	84.2	10.3	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,711	300	229	169	44.0	6.4	May 15, 2024	J-GAAP
Apr - Jun, 2024	4,741	386	291	184	47.9	8.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,176	702	563	405	105.5	13.6	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	5,254	523	429	324	84.4	10.0	Feb 12, 2025	J-GAAP
YoY	+2.6%	-1.3%	-4.2%	+0.3%	+0.3%