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NIHON DENKEI CO.,LTD., First Half Ordinary Profit Decreases by 23%, July-September Ordinary Profit Decreases by 18%

Mon Nov 11, 2024 1:00 pm JST Earnings

9908 NIHON DENKEI CO.,LTD. 【J-GAAP】

Earnings Report

NIHON DENKEI CO.,LTD. <9908> [TSE-S] announced its financial results in the afternoon session on November 11th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.8% from the same period last year to 1.27 billion yen. The progress rate against the 3.5 billion yen full-year plan was 36.5%, almost the same as the five-year average of 34.2%.

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 decrease by 29.5% from the same period last year to 2.22 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 673 million yen, a 17.5% decrease compared to the same period last year. However, the operating profit margin improved from 3.0% in the same period last year to 3.4%.

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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 43,994 1,239 1,710 1,042 88.6 42.8 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 46,755 1,327 1,654 1,133 98.0 34.4 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 48,379 1,375 1,277 745 65.4 36.5 Nov 11, 2024 J-GAAP
YoY +3.5% +3.6% -22.8% -34.2% -33.3%

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 48,000 1,250 1,250 850 74.8 40 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 48,379 1,375 1,277 745 65.4 40 Nov 11, 2024 J-GAAP
Revision Rate +0.8% +10.0% +2.2% -12.4% -12.5%

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 61,784 3,104 3,155 1,814 157.3 45 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 61,621 2,125 2,223 1,655 145.6 42 Nov 11, 2024 J-GAAP
YoY -0.3% -31.5% -29.5% -8.8% -7.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 104,778 3,740 3,996 2,905 248.4 75 May 11, 2023 J-GAAP
Mar, 2024 108,539 4,431 4,809 2,947 255.5 80 May 10, 2024 J-GAAP
Mar, 2025 Guidance 110,000 3,500 3,500 2,400 211.2 82 May 10, 2024 J-GAAP
YoY +1.3% -21.0% -27.2% -18.6% -17.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 24,435 734 816 583 50.4 3.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 26,648 1,280 1,158 865 74.9 4.8 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 35,136 1,824 1,997 949 82.3 5.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 21,876 476 604 380 33.4 2.2 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 26,503 899 673 365 32.1 3.4 Nov 11, 2024 J-GAAP
YoY +8.5% +22.5% -17.5% -37.4% -36.4%

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