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Nippon Seisen Co., Ltd., First Half Ordinary Profit Increases by 34%, July-September Ordinary Profit Increases by 50%

Tue Oct 29, 2024 3:40 pm JST Earnings

5659 Nippon Seisen Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Seisen Co., Ltd. <5659> [TSE-P] announced its financial results after the market closed on October 29th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.34 billion yen, an increase of 34.4% compared to the same period last year. However, The progress rate against the 4.9 billion yen full-year plan was 47.8%, almost the same as the five-year average of 45.6%.

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 expand by 30.8% from the same period last year, reaching 2.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 50.0% from the same period last year, reaching 1.13 billion yen. The operating profit margin significantly improved from 6.6% in the same period last year to 9.7%.

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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 24,712 1,942 2,039 1,416 46.2 47.2 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 21,755 1,625 1,742 1,221 39.9 47.1 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 23,371 2,318 2,341 1,609 52.5 47.8 Oct 29, 2024 J-GAAP
YoY +7.4% +42.6% +34.4% +31.8% +31.7%

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 23,300 2,400 2,400 1,680 54.8 28 Sep 27, 2024 J-GAAP
Apr - Sep, 2024 Results 23,371 2,318 2,341 1,609 52.5 28 Oct 29, 2024 J-GAAP
Revision Rate +0.3% -3.4% -2.5% -4.2% -4.2%

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 22,972 1,912 1,957 1,371 44.7 21 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 24,329 2,582 2,559 1,821 59.4 28 Oct 29, 2024 J-GAAP
YoY +5.9% +35.0% +30.8% +32.8% +32.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 49,055 4,179 4,317 3,086 100.7 42 Apr 27, 2023 J-GAAP
Mar, 2024 44,727 3,537 3,699 2,592 84.5 42 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 47,700 4,900 4,900 3,430 111.8 56 Sep 27, 2024 J-GAAP
YoY +6.6% +38.5% +32.5% +32.3% +32.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 10,943 725 758 529 17.3 6.6 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 11,388 687 720 491 16.0 6.0 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 11,584 1,225 1,237 880 28.7 10.6 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 11,542 1,166 1,204 827 27.0 10.1 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 11,829 1,152 1,137 782 25.5 9.7 Oct 29, 2024 J-GAAP
YoY +8.1% +58.9% +50.0% +47.8% +47.8%

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