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SHIN NIPPON BIOMEDICAL LABORATORIES, LTD., First Half Ordinary Profit Decreases by 51%, July-September Ordinary Profit Decreases by 21%

Wed Nov 6, 2024 11:30 am JST Earnings

2395 SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. 【J-GAAP】

Earnings Report

SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. <2395> [TSE-P] announced its financial results at noon (11:30) on November 6th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 51.3% from the same period last year to 1.82 billion yen. The progress rate against the 5.34 billion yen full-year plan was 34.2%, also falling below the five-year average of 46.0%.

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 grow by 7.9% from the same period last year, reaching 3.51 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.48 billion yen, a 20.9% decrease compared to the same period last year. The operating profit margin sharply declined from 18.5% in the same period last year to 3.2%.

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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 10,348 2,313 5,928 4,419 106.2 64.5 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 11,884 2,349 3,756 2,966 71.2 53.5 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 12,508 80 1,829 1,331 32.0 34.2 Nov 6, 2024 J-GAAP
YoY +5.3% -96.6% -51.3% -55.1% -55.1%

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 12,002 -202 1,332 858 20.6 20 May 8, 2024 J-GAAP
Apr - Sep, 2024 Results 12,508 80 1,829 1,331 32.0 20 Nov 6, 2024 J-GAAP
Revision Rate +4.2% － +37.3% +55.1% +55.1%

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 14,566 1,813 3,259 2,565 61.6 30 May 8, 2024 J-GAAP
Oct - Mar, 2024 Guidance 17,327 2,270 3,516 2,589 62.2 30 Nov 6, 2024 J-GAAP
YoY +19.0% +25.2% +7.9% +0.9% +0.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 25,090 5,245 9,194 6,060 145.6 50 May 8, 2023 J-GAAP
Mar, 2024 26,450 4,162 7,015 5,531 132.9 50 May 8, 2024 J-GAAP
Mar, 2025 Guidance 29,835 2,350 5,345 3,920 94.2 50 May 8, 2024 J-GAAP
YoY +12.8% -43.5% -23.8% -29.1% -29.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,080 1,122 1,879 1,593 38.3 18.5 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 6,100 186 1,128 828 19.9 3.0 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 8,466 1,627 2,131 1,737 41.7 19.2 May 8, 2024 J-GAAP
Apr - Jun, 2024 5,549 -145 342 122 2.9 -2.6 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 6,959 225 1,487 1,209 29.0 3.2 Nov 6, 2024 J-GAAP
YoY +14.5% -79.9% -20.9% -24.1% -24.1%

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