NITTOH CORPORATION, First Half Ordinary Profit Decreases by 34%

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Thu Nov 7, 2024 2:20 pm JST Earnings

1738 NITTOH CORPORATION 【J-GAAP】

Earnings Report

NITTOH CORPORATION <1738> [NSE-M] announced its financial results in the afternoon session on November 7th (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.5% from the same period last year to 150 million yen, fell short of the previous forecast of 214 million yen.

The progress rate against the 470 million yen full-year plan was 31.9%, also falling below the five-year average of 42.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 39.1% from the same period last year, reaching 320 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 73 million yen, a 45.5% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 2.7%.

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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
Apr - Sep, 2022	4,584	137	152	98	24.3	40.3	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	5,010	218	229	151	37.5	49.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,165	139	150	96	23.8	31.9	Nov 7, 2024	J-GAAP
YoY	+3.1%	-36.2%	-34.5%	-36.4%	-36.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	5,250	206	214	137	33.8	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	5,165	139	150	96	23.8	0	Nov 7, 2024	J-GAAP
Revision Rate	-1.6%	-32.5%	-29.9%	-29.9%	-29.6%

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	5,111	211	230	96	23.7	16	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,435	311	320	224	55.3	17	Nov 7, 2024	J-GAAP
YoY	+6.3%	+47.4%	+39.1%	+133.3%	+133.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,678	345	377	222	54.9	15	May 9, 2023	J-GAAP
Mar, 2024	10,121	429	459	247	61.0	16	May 9, 2024	J-GAAP
Mar, 2025 Guidance	10,600	450	470	320	79.0	17	May 9, 2024	J-GAAP
YoY	+4.7%	+4.9%	+2.4%	+29.6%	+29.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,496	127	134	89	22.1	5.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,632	127	138	92	22.8	4.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	2,479	84	92	4	1.0	3.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	2,608	69	77	48	12.1	2.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,557	70	73	48	11.9	2.7	Nov 7, 2024	J-GAAP
YoY	+2.4%	-44.9%	-45.5%	-46.1%	-46.2%