bearish
Nitto Kogyo Corporation (6651 Jp): 1Q Follow-Up - September 12, 2024
SUMMARY
- 1Q 2025/3 Earnings Result Summary: NITTO KOGYO Corporation (hereafter, the Company) reported net sales of ¥38,742 mn (+12.6% YoY), operating profit of ¥1,601 mn (-9.6% YoY), ordinary profit of ¥1,996 mn (-2.6% YoY), and profit attributable to owners of parent (hereafter, net profit) of ¥3,704 mn (+167.8% YoY).
- According to the Company, sales, operating profit, and ordinary profit were generally within expectations.
- The Company acquired shares of Tempearl Industrial Co., Ltd. on April 30, 2024, making it a subsidiary, and recorded a gain on negative goodwill of ¥2,665 mn as extraordinary profit.
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