Nippon Tungsten Co.,Ltd., First Half Ordinary Profit Increases by 14%, July-September Ordinary Profit Increases by 24%

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Wed Nov 13, 2024 3:00 pm JST Earnings

6998 Nippon Tungsten Co.,Ltd. 【J-GAAP】

Earnings Report

Nippon Tungsten Co.,Ltd. <6998> [TSE-S] announced its financial results in the afternoon session on November 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 14.4% from the same period last year, reaching 523 million yen. The progress rate against the 800 million yen full-year plan was 65.4%, also surpassing the five-year average of 48.6%.

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 decrease by 15.8% from the same period last year to 277 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 23.8% from the same period last year, reaching 239 million yen. The operating profit margin improved from 5.0% in the same period last year to 6.9%.

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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	6,611	602	756	518	107.3	61.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	5,669	289	457	361	74.7	58.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	6,309	397	523	354	73.2	65.4	Nov 13, 2024	J-GAAP
YoY	+11.3%	+37.4%	+14.4%	-1.9%	-2.0%

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	6,300	400	500	350	72.2	25	Sep 26, 2024	J-GAAP
Apr - Sep, 2024 Results	6,309	397	523	354	73.2	25	Nov 13, 2024	J-GAAP
Revision Rate	+0.1%	-0.8%	+4.6%	+1.1%	+1.5%

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	5,795	187	329	166	34.3	25	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,691	123	277	206	42.5	25	Nov 13, 2024	J-GAAP
YoY	-1.8%	-34.2%	-15.8%	+24.1%	+23.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	12,645	927	1,227	767	158.8	60	May 19, 2023	J-GAAP
Mar, 2024	11,464	476	786	527	108.9	50	May 9, 2024	J-GAAP
Mar, 2025 Guidance	12,000	520	800	560	115.5	50	May 9, 2024	J-GAAP
YoY	+4.7%	+9.2%	+1.8%	+6.3%	+6.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,787	138	193	184	38.1	5.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,705	94	148	124	25.7	3.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,090	93	181	42	8.7	3.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	3,181	180	284	187	38.6	5.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	3,128	217	239	167	34.5	6.9	Nov 13, 2024	J-GAAP
YoY	+12.2%	+57.2%	+23.8%	-9.2%	-9.3%