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NIPPON EXPRESS, Net Income Forecast for the Fiscal Year Revised Downward by 27%

Fri Aug 8, 2025 3:30 pm JST Earnings

9147 NIPPON EXPRESS HOLDINGS,INC. 【IFRS】

Earnings Report

NIPPON EXPRESS HOLDINGS,INC. <9147> [TSE Prime] announced its financial results (based on IFRS) after the market closed on August 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending December 2025 (January to June) decreased 24.2% from the same period last year to 8.60 billion yen, resulting in a decrease in profits compared to the previous forecast of a 67.4% increase.

In addition, the full-year forecast for consolidated net income has decreased 27.3%, from the previous forecast of 55.0 billion yen to 40.0 billion yen (compared to 31.7 billion yen in the previous period), leading to a reduction in the profit growth rate from 73.3% to 26.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the July to December period (second half) is expected to expand 54.0% from the same period last year, reaching 31.3 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated net income dropped to 7.35 billion yen, a 30.4% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 2.5% in the same period last year to 2.8%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Jun, 2023 1,131,866 40,382 41,347 25,447 95.3 67.6 Aug 9, 2023 IFRS
Jan - Jun, 2024 1,249,893 19,107 20,958 11,347 43.2 40.4 Aug 9, 2024 IFRS
Jan - Jun, 2025 1,271,989 28,790 21,465 8,604 33.8 35.8 Aug 8, 2025 IFRS
YoY +1.8% +50.7% +2.4% -24.2% -21.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance 1,320,000 33,000 31,000 19,000 75.7 50 Feb 14, 2025 IFRS
Jan - Jun, 2025 Results 1,271,989 28,790 21,465 8,604 33.8 50 Aug 8, 2025 IFRS
Revision Rate -3.6% -12.8% -30.8% -54.7% -55.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 2,700,000 80,000 75,000 55,000 226.8 100 Feb 14, 2025 IFRS
Dec, 2025 New 2,600,000 70,000 60,000 40,000 165.0 100 Aug 8, 2025 IFRS
Revision Rate -3.7% -12.5% -20.0% -27.3% -27.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 1,327,750 29,971 30,927 20,386 78.0 50 Feb 14, 2025 IFRS
Jul - Dec, 2025 Guidance 1,328,011 41,210 38,535 31,396 129.5 50 Aug 8, 2025 IFRS
YoY +0.0% +37.5% +24.6% +54.0% +65.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 2,239,017 60,098 61,208 37,050 139.5 100 Feb 14, 2024 IFRS
Dec, 2024 2,577,643 49,078 51,885 31,733 121.5 100 Feb 14, 2025 IFRS
Dec, 2025 Guidance 2,600,000 70,000 60,000 40,000 165.0 100 Aug 8, 2025 IFRS
YoY +0.9% +42.6% +15.6% +26.1% +35.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 632,292 15,690 16,813 10,571 40.3 2.5 Aug 9, 2024 IFRS
Jul - Sep, 2024 650,308 15,801 12,579 6,969 26.6 2.4 Nov 12, 2024 IFRS
Oct - Dec, 2024 677,442 14,170 18,348 13,417 51.4 2.1 Feb 14, 2025 IFRS
Jan - Mar, 2025 645,280 11,416 7,118 1,248 4.8 1.8 May 13, 2025 IFRS
Apr - Jun, 2025 626,709 17,374 14,347 7,356 28.9 2.8 Aug 8, 2025 IFRS
YoY -0.9% +10.7% -14.7% -30.4% -28.3%

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