NITTO BOSEKI, The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Exceeded Record Profit Forecast

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Thu Feb 6, 2025 3:30 pm JST Earnings

3110 NITTO BOSEKI CO.,LTD. 【J-GAAP】

Earnings Report

NITTO BOSEKI CO.,LTD. <3110> [TSE Prime] announced its financial results after the market closed on February 6th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 13.1 billion yen, an increase 94.8% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 6.3%, from the previous forecast of 16 billion yen to 17 billion yen (compared to 9.75 billion yen in the previous period), increasing the growth rate from 64.1% to 74.3%. The company has further increased its previous forecast of record profits for the first time in eighteen years.

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 12.1%, from the previous forecast of 8.28 billion yen to 9.28 billion yen (compared to 5.56 billion yen in the same period of the previous year), increasing the growth rate from 48.8% to 66.8%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.1 times that of the same period last year, reaching 5.47 billion yen. The operating profit margin jumped from 10.2% in the same period last year to 15.7%.

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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	68,762	5,845	6,956	7,811	206.5	114.7	Feb 7, 2023	J-GAAP
Apr - Dec, 2023	68,041	5,704	6,773	5,366	147.4	69.5	Feb 6, 2024	J-GAAP
Apr - Dec, 2024	81,520	11,811	13,196	9,421	258.8	77.6	Feb 6, 2025	J-GAAP
YoY	+19.8%	+107.1%	+94.8%	+75.6%	+75.6%

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	55,949	7,655	8,280	5,089	139.8	59.50	Nov 1, 2024	J-GAAP
Oct - Mar, 2024 New	55,949	8,655	9,280	6,089	167.3	59.50	Feb 6, 2025	J-GAAP
Revision Rate	0.0%	+13.1%	+12.1%	+19.7%	+19.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	109,000	15,000	16,000	10,500	288.4	87	Nov 1, 2024	J-GAAP
Mar, 2025 New	109,000	16,000	17,000	11,500	315.9	87	Feb 6, 2025	J-GAAP
Revision Rate	0.0%	+6.7%	+6.3%	+9.5%	+9.5%

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	50,519	5,269	5,565	3,780	103.8	32.50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	55,949	8,655	9,280	6,089	167.3	59.50	Feb 6, 2025	J-GAAP
YoY	+10.7%	+64.3%	+66.8%	+61.1%	+61.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	87,529	4,880	6,067	2,772	73.9	55	May 12, 2023	J-GAAP
Mar, 2024	93,253	8,387	9,752	7,296	200.4	55	May 9, 2024	J-GAAP
Mar, 2025 Guidance	109,000	16,000	17,000	11,500	315.9	87	Feb 6, 2025	J-GAAP
YoY	+16.9%	+90.8%	+74.3%	+57.6%	+57.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	25,307	2,586	2,586	1,850	50.8	10.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	25,212	2,683	2,979	1,930	53.0	10.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	26,115	3,907	4,768	3,251	89.3	15.0	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	26,936	3,438	2,952	2,160	59.3	12.8	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	28,469	4,466	5,476	4,010	110.1	15.7	Feb 6, 2025	J-GAAP
YoY	+12.5%	+72.7%	+111.8%	+116.8%	+116.8%