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NITCHITSU CO.,LTD., July-September (2Q) Ordinary Profit Decreases by 90%, Current Fiscal Year Dividend Revised Upward by 5 yen

Mon Nov 11, 2024 5:00 pm JST Earnings

7021 NITCHITSU CO.,LTD. 【J-GAAP】

Earnings Report

NITCHITSU CO.,LTD. <7021> [TSE-S] announced its financial results after the market closed on November 11th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.5% from the same period last year to 119 million yen. However, The progress rate against the 210 million yen full-year plan was 56.7%, almost the same as the five-year average of 57.9%.

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 10.8% from the same period last year to 91 million yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 30 yen to 35 yen (compared to 30 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 6 million yen, a 90.0% decrease compared to the same period last year. The operating profit margin worsened from 4.2% in the same period last year to 2.2%.

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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 4,102 53 90 36 17.7 ー Nov 4, 2022 J-GAAP
Apr - Sep, 2023 4,089 166 146 69 33.3 58.9 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 4,714 151 119 211 107.1 56.7 Nov 11, 2024 J-GAAP
YoY +15.3% -9.0% -18.5% +205.8% +221.3%

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 ー ー ー ー － 15 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 4,714 151 119 211 107.1 15 Nov 11, 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 9,100 290 210 250 127.2 30 Aug 9, 2024 J-GAAP
Mar, 2025 New 9,100 290 210 250 127.2 35 Nov 11, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 4,197 159 102 178 87.3 15 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,386 139 91 39 19.9 20 Nov 11, 2024 J-GAAP
YoY +4.5% -12.6% -10.8% -78.1% -77.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 8,024 -38 -23 -540 -259.8 30 May 12, 2023 J-GAAP
Mar, 2024 8,286 325 248 247 121.1 30 May 13, 2024 J-GAAP
Mar, 2025 Guidance 9,100 290 210 250 127.2 35 Nov 11, 2024 J-GAAP
YoY +9.8% -10.8% -15.3% +1.2% +5.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,064 86 60 71 34.3 4.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 1,990 62 41 18 8.8 3.1 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 2,207 97 61 160 78.5 4.4 May 13, 2024 J-GAAP
Apr - Jun, 2024 2,526 100 108 103 52.3 4.0 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,188 51 11 108 54.8 2.3 Nov 11, 2024 J-GAAP
YoY +6.0% -40.7% -81.7% +52.1% +59.8%

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