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Nishi-Nippon Railroad, The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Highest in Two Terms

Thu Feb 13, 2025 4:00 pm JST Earnings

9031 Nishi-Nippon Railroad Co.,Ltd. 【J-GAAP】

Earnings Report

Nishi-Nippon Railroad Co.,Ltd. <9031> [TSE Prime] announced its financial results after the market closed on February 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 20.3% from the same period last year, reaching 22.4 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 9.7%, from the previous forecast of 25.8 billion yen to 28.3 billion yen (compared to 24.5 billion yen in the previous period), increasing the growth rate from 5.1% to 15.3%, reaches new record high for the first time in two terms.

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 19.9%, from the previous forecast of 12.5 billion yen to 15 billion yen (compared to 13.9 billion yen in the same period of the previous year), turning to a 8.0% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 14.2% from the same period last year, reaching 9.2 billion yen. The operating profit margin improved from 7.1% in the same period last year to 8.1%.

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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 379,115 19,699 20,962 13,885 176.2 75.1 Feb 9, 2023 J-GAAP
Apr - Dec, 2023 303,749 18,320 18,623 16,649 211.4 75.9 Feb 8, 2024 J-GAAP
Apr - Dec, 2024 316,734 21,451 22,412 16,160 207.2 79.2 Feb 13, 2025 J-GAAP
YoY +4.3% +17.1% +20.3% -2.9% -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 236,982 13,329 12,589 8,846 114.2 17.50 Nov 14, 2024 J-GAAP
Oct - Mar, 2024 New 241,082 14,429 15,089 10,546 136.2 17.50 Feb 13, 2025 J-GAAP
Revision Rate +1.7% +8.3% +19.9% +19.2% +19.2%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 445,100 26,000 25,800 18,100 233.7 35 Nov 14, 2024 J-GAAP
Mar, 2025 New 449,200 27,100 28,300 19,800 255.6 35 Feb 13, 2025 J-GAAP
Revision Rate +0.9% +4.2% +9.7% +9.4% +9.4%

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 214,493 15,100 13,974 13,755 174.7 22.50 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 241,082 14,429 15,089 10,546 136.2 17.50 Feb 13, 2025 J-GAAP
YoY +12.4% -4.4% +8.0% -23.3% -22.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 494,643 26,150 27,901 18,368 233.1 35 May 11, 2023 J-GAAP
Mar, 2024 411,649 25,877 24,538 24,723 314.0 40 May 10, 2024 J-GAAP
Mar, 2025 Guidance 449,200 27,100 28,300 19,800 255.6 35 Feb 13, 2025 J-GAAP
YoY +9.1% +4.7% +15.3% -19.9% -18.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 106,593 7,543 8,059 5,681 72.1 7.1 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 107,900 7,557 5,915 8,074 102.6 7.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 101,634 5,919 5,823 3,697 47.0 5.8 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 106,484 6,752 7,388 5,557 71.0 6.3 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 108,616 8,780 9,201 6,906 88.5 8.1 Feb 13, 2025 J-GAAP
YoY +1.9% +16.4% +14.2% +21.6% +22.7%

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