Medical Ikkou Group Co.,Ltd, First Half Ordinary Profit Increases by 23%, June-Augus Ordinary Profit Increases by 18%

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Mon Oct 7, 2024 3:30 pm JST Earnings

3353 Medical Ikkou Group Co.,Ltd 【J-GAAP】

Earnings Report

Medical Ikkou Group Co.,Ltd <3353> [TSE-S] announced its financial results after the market closed on October 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 22.6% from the same period last year, reaching 853 million yen. However, The progress rate against the 1.8 billion yen full-year plan was 47.4%, almost the same as 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 consolidated ordinary profit for the September to February period (second half) is expected to decrease by 10.2% from the same period last year to 947 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 18.2% from the same period last year, reaching 423 million yen. However, the operating profit margin remained almost flat, changing from 3.5% in the same period last year to 3.5%.

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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
Mar - Aug, 2022	16,978	465	598	374	99.7	48.7	Oct 3, 2022	J-GAAP
Mar - Aug, 2023	17,450	603	696	444	118.3	39.7	Oct 2, 2023	J-GAAP
Mar - Aug, 2024	22,665	828	853	709	188.8	47.4	Oct 7, 2024	J-GAAP
YoY	+29.9%	+37.3%	+22.6%	+59.7%	+59.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	23,220	950	950	660	175.5	25	Apr 5, 2024	J-GAAP
Mar - Aug, 2024 Results	22,665	828	853	709	188.8	25	Oct 7, 2024	J-GAAP
Revision Rate	-2.4%	-12.8%	-10.2%	+7.4%	+7.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	22,450	956	1,055	595	158.5	25	Apr 5, 2024	J-GAAP
Sep - Feb, 2024 Guidance	23,595	972	947	501	133.2	25	Oct 7, 2024	J-GAAP
YoY	+5.1%	+1.7%	-10.2%	-15.8%	-16.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	33,897	935	1,227	759	202.2	40	Apr 7, 2023	J-GAAP
Feb, 2024	39,900	1,559	1,751	1,039	276.7	45	Apr 5, 2024	J-GAAP
Feb, 2025 Guidance	46,260	1,800	1,800	1,210	321.7	50	Apr 5, 2024	J-GAAP
YoY	+15.9%	+15.5%	+2.8%	+16.5%	+16.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	8,729	309	358	233	62.1	3.5	Oct 2, 2023	J-GAAP
Sep - Nov, 2023	11,319	475	494	368	98.0	4.2	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	11,131	481	561	227	60.5	4.3	Apr 5, 2024	J-GAAP
Mar - May, 2024	11,183	429	430	429	114.2	3.8	Jul 8, 2024	J-GAAP
Jun - Aug, 2024	11,482	399	423	280	74.5	3.5	Oct 7, 2024	J-GAAP
YoY	+31.5%	+29.1%	+18.2%	+20.2%	+20.1%