Nihon Tokushu Toryo, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 1% Increase, Dividend Revised Upward by 12 yen

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Wed Feb 12, 2025 4:15 pm JST Earnings

4619 Nihon Tokushu Toryo Co., Ltd. 【J-GAAP】

Earnings Report

Nihon Tokushu Toryo Co., Ltd. <4619> [TSE Std] announced its financial results after the market closed on February 12th (16:15). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 5.4% from the same period last year, reaching 4.62 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 23.7%, from the previous forecast of 4.85 billion yen to 6 billion yen (compared to 5.96 billion yen in the previous period), turning to a 0.6% 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 61.5%, from the previous forecast of 1.87 billion yen to 3.02 billion yen (compared to 3.37 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 44.6% to 10.5%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 48 yen to 60 yen (compared to 46 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 1.64 billion yen, a 8.6% decrease compared to the same period last year. The operating profit margin worsened from 8.4% in the same period last year to 7.3%.

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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	44,639	894	2,067	890	41.0	65.8	Feb 8, 2023	J-GAAP
Apr - Dec, 2023	48,977	2,883	4,387	3,014	138.6	73.6	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	49,363	3,147	4,622	3,309	152.2	77.0	Feb 12, 2025	J-GAAP
YoY	+0.8%	+9.2%	+5.4%	+9.8%	+9.8%

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	31,133	1,334	1,870	1,286	59.1	26	Nov 13, 2024	J-GAAP
Oct - Mar, 2024 New	32,433	1,984	3,020	2,186	100.5	38	Feb 12, 2025	J-GAAP
Revision Rate	+4.2%	+48.7%	+61.5%	+70.0%	+70.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	63,700	3,250	4,850	3,400	156.3	48	Nov 13, 2024	J-GAAP
Mar, 2025 New	65,000	3,900	6,000	4,300	197.7	60	Feb 12, 2025	J-GAAP
Revision Rate	+2.0%	+20.0%	+23.7%	+26.5%	+26.5%

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	33,345	2,501	3,373	2,149	98.9	25	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	32,433	1,984	3,020	2,186	100.5	38	Feb 12, 2025	J-GAAP
YoY	-2.7%	-20.7%	-10.5%	+1.7%	+1.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	60,738	1,631	3,141	2,103	96.8	42	May 10, 2023	J-GAAP
Mar, 2024	64,693	3,905	5,963	3,947	181.6	46	May 8, 2024	J-GAAP
Mar, 2025 Guidance	65,000	3,900	6,000	4,300	197.7	60	Feb 12, 2025	J-GAAP
YoY	+0.5%	-0.1%	+0.6%	+8.9%	+8.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	17,629	1,479	1,797	1,216	55.9	8.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	15,716	1,022	1,576	933	42.9	6.5	May 8, 2024	J-GAAP
Apr - Jun, 2024	16,356	884	1,645	1,114	51.2	5.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	16,211	1,032	1,335	1,000	46.0	6.4	Nov 13, 2024	J-GAAP
Oct - Dec, 2024	16,796	1,231	1,642	1,195	55.0	7.3	Feb 12, 2025	J-GAAP
YoY	-4.7%	-16.8%	-8.6%	-1.7%	-1.8%