NOK CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 2%

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Thu Nov 7, 2024 3:30 pm JST Earnings

7240 NOK CORPORATION 【J-GAAP】

Earnings Report

NOK CORPORATION <7240> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 28.8% from the same period last year, reaching 21.1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 1.6%, from the previous forecast of 38.1 billion yen to 38.7 billion yen (compared to 40.2 billion yen in the previous period), and the declining rate is expected to decrease from 5.4% to 3.9%. However, the full-year consolidated net income has downwardly by 1.7%, from the previous forecast of 23.2 billion yen to 22.8 billion yen (compared to 31.6 billion yen in the previous period), leading to an increase in the profit decline rate from 26.6% to 27.9%.

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 decrease by 26.4% from the same period last year to 17.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 9.07 billion yen, a 8.7% decrease compared to the same period last year. However, the operating profit margin significantly improved from 3.2% in the same period last year to 6.5%.

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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	352,769	6,117	16,561	10,185	59.0	62.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	354,239	4,863	16,389	12,181	71.8	40.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	393,666	19,084	21,117	13,604	82.6	54.6	Nov 7, 2024	J-GAAP
YoY	+11.1%	+292.4%	+28.8%	+11.7%	+15.0%

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	387,600	14,200	20,300	12,500	75.9	50	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	393,666	19,084	21,117	13,604	82.6	50	Nov 7, 2024	J-GAAP
Revision Rate	+1.6%	+34.4%	+4.0%	+8.8%	+8.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	744,700	28,000	38,100	23,200	142.4	100	Aug 2, 2024	J-GAAP
Mar, 2025 New	745,500	31,900	38,700	22,800	140.0	100	Nov 7, 2024	J-GAAP
Revision Rate	+0.1%	+13.9%	+1.6%	-1.7%	-1.7%

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	396,263	18,049	23,896	19,421	115.7	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	351,834	12,816	17,583	9,196	56.5	50	Nov 7, 2024	J-GAAP
YoY	-11.2%	-29.0%	-26.4%	-52.6%	-51.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	709,956	15,378	26,557	13,320	77.6	75	May 10, 2023	J-GAAP
Mar, 2024	750,502	22,912	40,285	31,602	188.3	87.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	745,500	31,900	38,700	22,800	140.0	100	Nov 7, 2024	J-GAAP
YoY	-0.7%	+39.2%	-3.9%	-27.9%	-25.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	190,282	6,089	9,944	9,884	58.3	3.2	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	213,308	12,728	13,919	8,948	53.0	6.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	182,955	5,321	9,977	10,473	62.4	2.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	188,170	5,652	12,038	7,015	42.6	3.0	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	205,496	13,432	9,079	6,589	40.0	6.5	Nov 7, 2024	J-GAAP
YoY	+8.0%	+120.6%	-8.7%	-33.3%	-31.4%