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Nippon Beet Sugar Manufacturing, The Current Fiscal Year Net Income Revised Upward by 10%, Exceeded Record Profit Forecast

Wed Feb 12, 2025 2:00 pm JST Earnings

2108 Nippon Beet Sugar Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Nippon Beet Sugar Manufacturing Co.,Ltd. <2108> [TSE Prime] announced its financial results in the afternoon session on February 12th (14:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 6.4 times that of the same period last year, reaching 4.99 billion yen.

In addition, the full-year consolidated net income has been revised upward 10.2%, from the previous forecast of 5.9 billion yen to 6.5 billion yen (compared to 1.81 billion yen in the previous period), increasing the growth rate from 3.3 times to 3.6 times. The company has further increased its previous forecast of record profits for the first time in thirty seven years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 8.1 times, from the previous forecast of 0.08 billion yen to 0.68 billion yen (compared to 0.56 billion yen in the same period of the previous year), turning to a 21.1% increase in the consolidated net income outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net loss expanded to a loss of 0.81 billion yen (compared to a loss of 0.46 billion yen in the same period last year). The operating profit/loss margin drastically worsened from -4.6% in the same period last year to -7.6%.

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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 47,943 434 920 591 43.8 46.2 Feb 10, 2023 J-GAAP
Apr - Dec, 2023 51,423 349 1,206 785 59.8 66.9 Feb 14, 2024 J-GAAP
Apr - Dec, 2024 46,617 -831 -232 4,997 396.6 ー Feb 12, 2025 J-GAAP
YoY -9.3% － － +536.6% +563.7%

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 36,818 -202 141 84 6.8 80 Nov 8, 2024 J-GAAP
Oct - Mar, 2024 New 36,818 -202 141 684 54.9 80 Feb 12, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +714.3% +713.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 66,000 300 900 5,900 473.8 80 Nov 8, 2024 J-GAAP
Mar, 2025 New 66,000 300 900 6,500 522.0 80 Feb 12, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +10.2% +10.2%

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 36,889 -319 26 565 43.2 55 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 36,818 -202 141 684 54.9 80 Feb 12, 2025 J-GAAP
YoY -0.2% +36.7% +442.3% +21.1% +27.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 65,013 1,506 1,993 1,260 93.6 50 May 12, 2023 J-GAAP
Mar, 2024 69,297 910 1,802 1,811 138.5 55 May 14, 2024 J-GAAP
Mar, 2025 Guidance 66,000 300 900 6,500 522.0 80 Feb 12, 2025 J-GAAP
YoY -4.8% -67.0% -50.1% +258.9% +276.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 19,015 -880 -570 -461 -35.1 -4.6 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 17,874 561 596 1,026 78.5 3.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 14,916 290 646 5,815 453.5 1.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 14,266 212 113 1 0.1 1.5 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 17,435 -1,333 -991 -819 -65.0 -7.6 Feb 12, 2025 J-GAAP
YoY -8.3% -51.5% -73.9% -77.7% -85.2%

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