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MARUZEN CO., LTD., First Half Ordinary Profit Increases by 29%

Wed Oct 9, 2024 4:00 pm JST Earnings

5982 MARUZEN CO., LTD. 【J-GAAP】

Earnings Report

MARUZEN CO., LTD. <5982> [TSE-S] announced its financial results after the market closed on October 9th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 29.2% from the same period last year, reaching 3.49 billion yen, exceeded the previous forecast of 2.85 billion yen.

The progress rate against the 5.35 billion yen full-year plan was 65.3%, also surpassing the five-year average of 52.9%.

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 28.5% from the same period last year to 1.85 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 23.1% from the same period last year, reaching 1.59 billion yen. The operating profit margin improved from 7.7% in the same period last year to 9.1%.

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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 28,033 2,185 2,455 1,702 105.1 60.2 Oct 7, 2022 J-GAAP
Mar - Aug, 2023 30,783 2,451 2,702 1,848 114.0 51.0 Oct 10, 2023 J-GAAP
Mar - Aug, 2024 32,209 3,196 3,492 2,412 152.9 65.3 Oct 9, 2024 J-GAAP
YoY +4.6% +30.4% +29.2% +30.5% +34.1%

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 30,491 2,650 2,850 1,950 123.5 45 Apr 10, 2024 J-GAAP
Mar - Aug, 2024 Results 32,209 3,196 3,492 2,412 152.9 45 Oct 9, 2024 J-GAAP
Revision Rate +5.6% +20.6% +22.5% +23.7% +23.8%

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 29,813 2,406 2,598 1,860 115.6 55 Apr 10, 2024 J-GAAP
Sep - Feb, 2024 Guidance 27,791 1,704 1,858 1,338 84.8 45 Oct 9, 2024 J-GAAP
YoY -6.8% -29.2% -28.5% -28.1% -26.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 57,532 3,578 4,080 2,815 173.8 70 Apr 14, 2023 J-GAAP
Feb, 2024 60,596 4,857 5,300 3,708 230.5 90 Apr 10, 2024 J-GAAP
Feb, 2025 Guidance 60,000 4,900 5,350 3,750 237.6 90 Apr 10, 2024 J-GAAP
YoY -1.0% +0.9% +0.9% +1.1% +3.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 15,473 1,190 1,299 871 53.7 7.7 Oct 10, 2023 J-GAAP
Sep - Nov, 2023 15,008 1,486 1,591 1,080 66.8 9.9 Jan 9, 2024 J-GAAP
Dec - Feb, 2023 14,805 920 1,007 780 48.5 6.2 Apr 10, 2024 J-GAAP
Mar - May, 2024 16,118 1,727 1,893 1,318 83.6 10.7 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 16,091 1,469 1,599 1,094 69.4 9.1 Oct 9, 2024 J-GAAP
YoY +4.0% +23.4% +23.1% +25.6% +29.0%

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