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M-mart Inc., 2Q (May-July) Ordinary Profit Decreases by 8%

Tue Sep 17, 2024 3:30 pm JST Earnings

4380 M-mart Inc. 【J-GAAP】

Earnings Report

M-mart Inc. <4380> [TSE-G] announced its financial results after the market closed on September 17th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) was 223 million yen, a 2.6% decrease compared to the same period last year. This progress accounts for 39.8% of the full-year plan of 561 million yen, also falling below the five-year average of 44.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to expand by 33.6% from the same period last year, reaching 338 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary profit decreased to 111 million yen, a 8.3% decrease compared to the same period last year. The operating profit margin decreased from 43.1% in the same period last year to 35.5%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Feb - Jul, 2022 469 148 148 100 20.5 42.3 Sep 14, 2022 J-GAAP
Feb - Jul, 2023 556 230 229 155 31.8 47.5 Sep 14, 2023 J-GAAP
Feb - Jul, 2024 623 223 223 145 29.7 39.8 Sep 17, 2024 J-GAAP
YoY +12.1% -3.0% -2.6% -6.5% -6.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2024 Guidance ー ー ー ー － 0 Mar 18, 2024 J-GAAP
Feb - Jul, 2024 Results 623 223 223 145 29.7 0 Sep 17, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 615 253 253 169 34.7 18 Mar 18, 2024 J-GAAP
Aug - Jan, 2024 Guidance 662 338 338 226 46.2 21 Sep 17, 2024 J-GAAP
YoY +7.6% +33.6% +33.6% +33.7% +33.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 986 349 350 235 48.1 13 Mar 17, 2023 J-GAAP
Jan, 2024 1,171 483 482 324 66.4 18 Mar 18, 2024 J-GAAP
Jan, 2025 Guidance 1,285 561 561 371 75.9 21 Mar 18, 2024 J-GAAP
YoY +9.7% +16.1% +16.4% +14.5% +14.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2023 283 122 121 82 16.8 43.1 Sep 14, 2023 J-GAAP
Aug - Oct, 2023 298 127 128 87 17.8 42.6 Dec 15, 2023 J-GAAP
Nov - Jan, 2023 317 126 125 82 16.8 39.7 Mar 18, 2024 J-GAAP
Feb - Apr, 2024 310 112 112 72 14.8 36.1 Jun 14, 2024 J-GAAP
May - Jul, 2024 313 111 111 73 15.0 35.5 Sep 17, 2024 J-GAAP
YoY +10.6% -9.0% -8.3% -11.0% -11.2%

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