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NIHON SEIKAN K.K, First Half Ordinary Profit Revised Downward to a Loss

Tue Nov 5, 2024 4:00 pm JST Earnings

5905 NIHON SEIKAN K.K 【J-GAAP】

Earnings Report

NIHON SEIKAN K.K <5905> [TSE-S] announced its financial results after the market closed on November 5th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 71 million yen (compared to a profit of 227 million yen in the same period last year), reversing from the forecast of a 57 million yen to a loss

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 14.6% from the same period last year to 82 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 167 million yen (compared to a profit of 38 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.7% in the same period last year to -6.8%.

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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 5,320 9 32 60 44.5 11.9 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 5,994 194 227 145 107.2 70.3 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 5,968 -111 -71 -64 -48.1 ー Nov 5, 2024 J-GAAP
YoY -0.4% － － － －

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 6,219 24 57 17 12.8 0 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 5,968 -111 -71 -64 -48.1 0 Nov 5, 2024 J-GAAP
Revision Rate -4.0% － － － －

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 6,254 62 96 126 92.9 70 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 6,427 59 82 131 97.9 30 Nov 5, 2024 J-GAAP
YoY +2.8% -4.8% -14.6% +4.0% +5.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 10,919 213 268 289 213.3 70 May 1, 2023 J-GAAP
Mar, 2024 12,248 256 323 271 199.8 70 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 12,395 -52 11 67 50.1 30 Apr 30, 2024 J-GAAP
YoY +1.2% － -96.6% -75.3% -74.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,895 21 38 38 28.1 0.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 3,217 68 86 93 68.6 2.1 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 3,037 -6 10 33 24.3 -0.2 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 3,356 67 96 52 38.9 2.0 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 2,612 -178 -167 -116 -87.1 -6.8 Nov 5, 2024 J-GAAP
YoY -9.8% － － － －

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