Noda (7879) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended August 31, 2024, was ¥49,305 million, down 7.8% year-over-year, with operating profit at ¥689 million, down 80.4% year-over-year, and net loss attributable to shareholders of ¥1,936 million versus a profit of ¥2,062 million last year.

• The business environment remained challenging due to weak housing demand, high material and logistics costs, and declining plywood prices, leading to lower profitability.

Financial highlights

• Operating profit fell sharply to ¥689 million, an 80.4% decrease year-over-year.

• Net loss attributable to shareholders was ¥1,936 million, compared to a profit of ¥2,062 million in the prior year.

• Total assets at quarter-end were ¥75,056 million, down ¥1,314 million from the previous fiscal year-end.

• Equity ratio declined to 48.2% from 50.8% at the previous year-end.

Outlook and guidance

• Full-year revenue forecast revised to ¥66,000 million, down 9.9% year-over-year.

• Full-year net loss forecast at ¥2,300 million, with EPS of -¥145.50.

• Dividend forecast revised to ¥42.50 per share for the year.