Nitta (5186) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 FY2024 were ¥21,634 million, a slight decrease of 0.4% year-over-year.

• Operating income declined 9.2% to ¥1,162 million; ordinary income rose 18.7% to ¥3,603 million in one source but fell 12.7% to ¥1,280 million in another.

• Net income increased 20.5% to ¥3,015 million in one source, but another reports an 8.4% drop to ¥2,502 million.

• Comprehensive income rose 51.5% year-over-year to ¥5,893 million.

• Semiconductor manufacturing equipment demand showed recovery, while sales to the automobile industry remained stagnant; rising labor and logistics costs impacted results.

Financial highlights

• Gross profit was ¥5,681 million, nearly flat year-over-year.

• Capital expenditure surged to ¥2,442 million from ¥535 million, while depreciation and R&D expenses were stable.

• Overseas sales ratio increased to 31.6% due to yen weakness.

• Net income per share increased to ¥108.05 from ¥90.00 in the prior year period.

• Total assets as of June 30, 2024, were ¥172,665 million, up from ¥169,504 million at the previous fiscal year-end.

Outlook and guidance

• FY2024 full-year forecasts remain unchanged: net sales projected at ¥90,000 million, operating income at ¥4,800 million, and net income at ¥10,000 million.

• Capital expenditure for FY2024 is expected to reach ¥6,500 million.

• Annual dividend per share is expected to rise to ¥132.00 from ¥122.00 in the previous year.