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NITTAN Corporation, First Half Ordinary Profit Decreases by 53%, July-September Ordinary Profit Decreases by 21%

Fri Nov 1, 2024 4:00 pm JST Earnings

6493 NITTAN Corporation 【J-GAAP】

Earnings Report

NITTAN Corporation <6493> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 52.9% from the same period last year to 614 million yen. The progress rate against the 1.85 billion yen full-year plan was 33.2%, also falling below the five-year average of 52.2%.

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 grow by 4.9% from the same period last year, reaching 1.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 447 million yen, a 21.4% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 2.9%.

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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 20,355 354 557 -45 -1.6 31.7 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 24,841 1,068 1,304 423 14.8 52.5 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 25,552 211 492 -8 -0.3 26.6 Nov 1, 2024 J-GAAP
YoY +2.9% -80.2% -62.3% － －

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 25,552 333 614 54 1.9 6 Oct 30, 2024 J-GAAP
Apr - Sep, 2024 Results 25,552 211 492 -8 -0.3 6 Nov 1, 2024 J-GAAP
Revision Rate 0.0% -36.6% -19.9% － －

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 24,637 955 1,178 178 6.2 7 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 24,448 1,539 1,358 708 24.6 6 Nov 1, 2024 J-GAAP
YoY -0.8% +61.2% +15.3% +297.8% +296.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 41,876 1,440 1,759 391 13.6 9 May 12, 2023 J-GAAP
Mar, 2024 49,478 2,023 2,482 601 20.9 12 May 13, 2024 J-GAAP
Mar, 2025 Guidance 50,000 1,750 1,850 700 24.3 12 Oct 30, 2024 J-GAAP
YoY +1.1% -13.5% -25.5% +16.5% +16.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,130 464 569 186 6.5 3.5 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 13,073 807 958 396 13.8 6.2 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 11,564 148 220 -218 -7.6 1.3 May 13, 2024 J-GAAP
Apr - Jun, 2024 12,079 -60 167 -189 -6.6 -0.5 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 13,473 271 325 181 6.6 2.0 Nov 1, 2024 J-GAAP
YoY +2.6% -41.6% -42.9% -2.7% +1.1%

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