FX.co ★ NEC FY Profit Rises

NEC Corporation (NIPNF.PK) announced a net profit attributable to the owners of the company amounting to ¥149.52 billion ($1.35 billion) for the financial year ending on March 31, 2024. This marks a significant increase of 30.6% compared to the previous year. The earnings per share were also notably higher, with ¥561.24 yen ($5.06), in contrast to the previous year's ¥424.50 yen ($3.82).

In terms of non-GAAP profits to parent-company owners, NEC reported ¥177.84 billion ($1.6 billion), showing an increase of 33.9%. Meanwhile, the non-GAAP earnings per share rose to ¥667.54 yen ($6.0), up from the previous year's ¥492.40 yen ($4.44). Regarding the revenue, there was also an increase of 5.0% from the previous reporting year, with revenue now standing at ¥3.48 trillion ($31.35 billion).

Looking ahead, for the fiscal year ending on March 31, 2025, NEC Corporation forecasts non-GAAP earnings per share at ¥619.24 yen ($5.58), non-GAAP profit to parent-company owners at ¥165.0 billion yen ($1.48 billion), and the overall revenue to be around ¥3.37 trillion ($30.36 billion).