NITTOH, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 25% Decrease, Dividend Revised Upward by 3 yen

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Fri Feb 7, 2025 4:20 pm JST Earnings

1738 NITTOH CORPORATION 【J-GAAP】

Earnings Report

NITTOH CORPORATION <1738> [NSE Main] announced its financial results after the market closed on February 7th (16:20). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 23.4% from the same period last year to 281 million yen.

In addition, the full-year consolidated ordinary profit has decreased 27.0%, from the previous forecast of 470 million yen to 343 million yen (compared to 459 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.3% decrease in profit. However, the full-year consolidated net income has been revised upward 50.9%, from the previous forecast of 320 million yen to 483 million yen (compared to 247 million yen in the previous period), increasing the growth rate from 29.6% to 95.5%. The company has further increased its previous forecast of record profits for the first time in seven years.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 39.7%, from the previous forecast of 320 million yen to 193 million yen (compared to 230 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 16.1% decrease in profit.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 17 yen to 20 yen (compared to 16 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 131 million yen, a 5.1% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 4.8% in the same period last year to 4.7%.

Kabutan News

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	7,149	277	303	199	49.3	80.4	Feb 8, 2023	J-GAAP
Apr - Dec, 2023	7,642	345	367	243	60.1	80.0	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	7,880	267	281	179	44.2	81.9	Feb 7, 2025	J-GAAP
YoY	+3.1%	-22.6%	-23.4%	-26.3%	-26.4%

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	5,435	311	320	224	55.3	17	Nov 7, 2024	J-GAAP
Oct - Mar, 2024 New	5,235	183	193	387	95.5	20	Feb 7, 2025	J-GAAP
Revision Rate	-3.7%	-41.2%	-39.7%	+72.8%	+72.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	10,600	450	470	320	79.0	17	May 9, 2024	J-GAAP
Mar, 2025 New	10,400	322	343	483	119.2	20	Feb 7, 2025	J-GAAP
Revision Rate	-1.9%	-28.4%	-27.0%	+50.9%	+50.9%

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	5,235	183	193	387	95.5	20	Feb 7, 2025	J-GAAP
YoY	+2.4%	-13.3%	-16.1%	+303.1%	+302.5%

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	10,400	322	343	483	119.2	20	Feb 7, 2025	J-GAAP
YoY	+2.8%	-24.9%	-25.3%	+95.5%	+95.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
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
Oct - Dec, 2024	2,715	128	131	83	20.5	4.7	Feb 7, 2025	J-GAAP
YoY	+3.2%	+0.8%	-5.1%	-9.8%	-9.9%