Fuji Nihon, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 1% Increase, Raises Record High Profit, Dividend Revised Upward by 2 yen

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Fri Jan 31, 2025 3:30 pm JST Earnings

2114 Fuji Nihon Corporation 【J-GAAP】

Earnings Report

Fuji Nihon Corporation <2114> [TSE Std] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 10.6% from the same period last year, reaching 2.95 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 8.3%, from the previous forecast of 3 billion yen to 3.25 billion yen (compared to 3.2 billion yen in the previous period), record profits reach six consecutive terms, turning to a 1.5% 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) is expected to increase 22.7%, from the previous forecast of 1.1 billion yen to 1.35 billion yen (compared to 1.31 billion yen in the same period of the previous year), turning to a 2.8% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 32 yen to 34 yen (compared to 32 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 34.6% from the same period last year, reaching 1.05 billion yen. The operating profit margin rose from 10.0% in the same period last year to 12.4%.

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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	17,180	1,597	1,879	1,490	55.5	88.5	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	19,368	1,750	2,671	2,003	74.6	83.4	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	21,188	2,559	2,953	2,401	89.8	90.9	Jan 31, 2025	J-GAAP
YoY	+9.4%	+46.2%	+10.6%	+19.9%	+20.3%

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	14,088	783	1,102	766	29.9	17	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	14,388	1,233	1,352	916	35.7	19	Jan 31, 2025	J-GAAP
Revision Rate	+2.1%	+57.5%	+22.7%	+19.6%	+19.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	27,700	2,400	3,000	2,400	93.6	32	Oct 31, 2024	J-GAAP
Mar, 2025 New	28,000	2,850	3,250	2,550	99.4	34	Jan 31, 2025	J-GAAP
Revision Rate	+1.1%	+18.8%	+8.3%	+6.3%	+6.3%

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	13,372	1,111	1,315	927	34.5	17	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,388	1,233	1,352	916	35.7	19	Jan 31, 2025	J-GAAP
YoY	+7.6%	+11.0%	+2.8%	-1.2%	+3.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,677	1,814	2,124	1,672	62.3	17	Apr 28, 2023	J-GAAP
Mar, 2024	25,889	2,173	3,202	2,370	88.3	32	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	28,000	2,850	3,250	2,550	99.4	34	Jan 31, 2025	J-GAAP
YoY	+8.2%	+31.2%	+1.5%	+7.6%	+12.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	6,851	688	784	560	20.9	10.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	6,521	423	531	367	13.7	6.5	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	6,747	824	985	720	27.1	12.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	6,865	793	913	914	34.0	11.6	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	7,576	942	1,055	767	28.7	12.4	Jan 31, 2025	J-GAAP
YoY	+10.6%	+36.9%	+34.6%	+37.0%	+37.4%