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NORITAKE CO., LIMITED, First Half Ordinary Profit Unexpectedly Revised Upward by 4%

Thu Nov 7, 2024 2:00 pm JST Earnings

5331 NORITAKE CO., LIMITED 【J-GAAP】

Earnings Report

NORITAKE CO., LIMITED <5331> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 3.7% from the same period last year, reaching 7.21 billion yen, resulting in an increase in profits compared to the previous forecast of a 3.7% decrease.

The progress rate against the 14.5 billion yen full-year plan was 49.8%, exceeding the five-year average of 43.9%.

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 decrease by 5.2% from the same period last year to 7.28 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.26 billion yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin improved from 7.5% in the same period last year to 8.1%.

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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 67,801 4,533 6,580 5,175 179.3 53.0 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 67,559 4,889 6,959 5,793 200.3 47.5 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 69,789 5,444 7,218 6,049 208.8 49.8 Nov 7, 2024 J-GAAP
YoY +3.3% +11.4% +3.7% +4.4% +4.3%

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 69,500 5,000 6,700 5,800 200.6 65 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 69,789 5,444 7,218 6,049 208.8 65 Nov 7, 2024 J-GAAP
Revision Rate +0.4% +8.9% +7.7% +4.3% +4.1%

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 70,353 5,820 7,684 5,687 196.4 65 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 71,211 5,556 7,282 5,951 209.8 65 Nov 7, 2024 J-GAAP
YoY +1.2% -4.5% -5.2% +4.6% +6.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 139,494 8,969 12,405 10,024 347.3 102.50 May 11, 2023 J-GAAP
Mar, 2024 137,912 10,709 14,643 11,480 396.5 125 May 9, 2024 J-GAAP
Mar, 2025 Guidance 141,000 11,000 14,500 12,000 423.0 130 May 9, 2024 J-GAAP
YoY +2.2% +2.7% -1.0% +4.5% +6.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 34,096 2,542 3,409 2,753 95.2 7.5 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 36,336 3,163 4,046 3,284 113.5 8.7 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 34,017 2,657 3,638 2,403 83.0 7.8 May 9, 2024 J-GAAP
Apr - Jun, 2024 34,812 2,617 3,955 3,247 112.0 7.5 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 34,977 2,827 3,263 2,802 96.7 8.1 Nov 7, 2024 J-GAAP
YoY +2.6% +11.2% -4.3% +1.8% +1.6%

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