Nitta Gelatin, The Current Fiscal Year Ordinary Profit Revised Upward by 18%, Raises Record High Profit Forecast, Dividend Revised Upward by 2 yen

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Thu Feb 13, 2025 3:10 pm JST Earnings

4977 Nitta Gelatin Inc. 【J-GAAP】

Earnings Report

Nitta Gelatin Inc. <4977> [TSE Std] announced its financial results in the afternoon session on February 13th (15:10). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.1 times that of the same period last year, reaching 3.53 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 17.6%, from the previous forecast of 3.4 billion yen to 4 billion yen (compared to 2.38 billion yen in the previous period), increasing the growth rate from 42.7% to 67.9%, further surpassing the previous forecast of record-high profits for three consecutive terms.

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 41.9%, from the previous forecast of 1.43 billion yen to 2.03 billion yen (compared to 0.64 billion yen in the same period of the previous year), increasing the growth rate from 2.2 times to 3.2 times.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 18 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/loss turned to a profit of 1.56 billion yen (compared to a loss of 0.02 billion yen in the same period last year). The operating profit margin drastically improved from 1.9% in the same period last year to 10.8%.

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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	29,285	2,050	2,089	894	49.3	92.9	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	30,057	1,541	1,712	-1,610	-88.7	71.9	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	29,646	3,193	3,536	1,876	103.3	88.4	Feb 13, 2025	J-GAAP
YoY	-1.4%	+107.2%	+106.5%	－	－

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	19,265	1,473	1,431	780	42.9	9	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	19,265	1,773	2,031	1,280	70.5	11	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+20.4%	+41.9%	+64.1%	+64.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	39,000	3,600	3,400	1,600	88.1	18	Nov 12, 2024	J-GAAP
Mar, 2025 New	39,000	3,900	4,000	2,100	115.6	20	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	+8.3%	+17.6%	+31.3%	+31.2%

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	20,709	492	643	-2,540	-140.0	8	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,265	1,773	2,031	1,280	70.5	11	Feb 13, 2025	J-GAAP
YoY	-7.0%	+260.4%	+215.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,186	2,259	2,248	1,558	86.0	16	May 12, 2023	J-GAAP
Mar, 2024	40,420	1,836	2,382	-1,850	-102.0	16	May 15, 2024	J-GAAP
Mar, 2025 Guidance	39,000	3,900	4,000	2,100	115.6	20	Feb 13, 2025	J-GAAP
YoY	-3.5%	+112.4%	+67.9%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	10,346	197	-27	-2,300	-126.7	1.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	10,363	295	670	-240	-13.2	2.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	10,377	1,033	1,380	616	34.0	10.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,358	1,094	589	204	11.2	11.7	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	9,911	1,066	1,567	1,056	58.1	10.8	Feb 13, 2025	J-GAAP
YoY	-4.2%	+441.1%	－	－	－