Niitaka (4465) Q4 2023 earnings summary

Executive summary

• FY2023 net sales rose 9.6% YoY to ¥19,504 million, while operating profit fell 53.2% to ¥855 million and profit attributable to owners of parent fell 54.4% to ¥562 million.

• Total assets increased to ¥23,568 million from ¥20,796 million; net assets reached ¥12,967 million and the equity ratio was 54.6%.

Financial highlights

• Gross profit was ¥6,686 million versus ¥7,292 million in FY2022; SG&A increased to ¥5,831 million from ¥5,467 million.

• Ordinary profit was ¥887 million, down 52.2% YoY; profit before income taxes was ¥899 million versus ¥1,809 million.

• EPS was ¥95.13 versus ¥208.59 in FY2022.

Outlook and guidance

• FY2024 forecast: net sales ¥22,000 million (+12.8% YoY), operating profit ¥1,000 million (+17.0%), ordinary profit ¥1,010 million (+13.9%), and parent-attributable profit ¥680 million (+21.1%).

• FY2024 forecast EPS is ¥115.19; forecast annual dividend is ¥44 per share, comprising ¥22 at the interim and year-end dates.