kabutan

NICHICON CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 36%

Wed Nov 6, 2024 3:30 pm JST Earnings

6996 NICHICON CORPORATION 【J-GAAP】

Earnings Report

NICHICON CORPORATION <6996> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 59.2% from the same period last year to 3.1 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 36.4%, from the previous forecast of 11 billion yen to 7 billion yen (compared to 11.4 billion yen in the previous period), leading to an increase in the profit decline rate from 3.6% to 38.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 2.6% from the same period last year, reaching 3.89 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.65 billion yen, a 59.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.1% in the same period last year to 3.7%.

Kabutan News

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 87,628 5,947 8,591 2,798 40.9 56.3 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 92,555 5,689 7,608 6,052 88.5 66.7 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 84,507 1,757 3,102 4,061 59.4 44.3 Nov 6, 2024 J-GAAP
YoY -8.7% -69.1% -59.2% -32.9% -32.9%

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 ー ー ー ー － 17 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 84,507 1,757 3,102 4,061 59.4 17 Nov 6, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 185,000 10,000 11,000 8,300 122.5 34 May 9, 2024 J-GAAP
Mar, 2025 New 176,000 5,200 7,000 6,100 90.0 34 Nov 6, 2024 J-GAAP
Revision Rate -4.9% -48.0% -36.4% -26.5% -26.5%

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 89,088 3,215 3,799 2,201 32.2 17 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 91,493 3,443 3,898 2,039 30.1 17 Nov 6, 2024 J-GAAP
YoY +2.7% +7.1% +2.6% -7.4% -6.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 184,725 12,676 15,263 7,814 114.2 30 May 9, 2023 J-GAAP
Mar, 2024 181,643 8,904 11,407 8,253 120.6 33 May 9, 2024 J-GAAP
Mar, 2025 Guidance 176,000 5,200 7,000 6,100 90.0 34 Nov 6, 2024 J-GAAP
YoY -3.1% -41.6% -38.6% -26.1% -25.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 47,645 3,405 4,104 2,643 38.6 7.1 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 46,196 2,257 2,162 1,953 28.6 4.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 42,892 958 1,637 248 3.6 2.2 May 9, 2024 J-GAAP
Apr - Jun, 2024 41,150 151 1,443 1,728 25.3 0.4 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 43,357 1,606 1,659 2,333 34.1 3.7 Nov 6, 2024 J-GAAP
YoY -9.0% -52.8% -59.6% -11.7% -11.7%

Related Articles