MORESCO Corporation, First Half Ordinary Profit Increases by 3%

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Fri Oct 11, 2024 4:00 pm JST Earnings

5018 MORESCO Corporation 【J-GAAP】

Earnings Report

MORESCO Corporation <5018> [TSE-S] announced its financial results after the market closed on October 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 3.4% from the same period last year, reaching 965 million yen. The progress rate against the 1.85 billion yen full-year plan was 52.2%, also surpassing the five-year average of 48.4%.

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 nearly flat of 0.9% from the same period last year to 885 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 515 million yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin improved from 3.5% in the same period last year to 5.4%.

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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	14,523	295	846	504	53.9	80.9	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	15,386	528	933	569	61.7	51.1	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	17,102	671	965	576	62.8	52.2	Oct 11, 2024	J-GAAP
YoY	+11.2%	+27.1%	+3.4%	+1.2%	+1.8%

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	ー	ー	ー	ー	－	20	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	17,102	671	965	576	62.8	20	Oct 11, 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
Sep - Feb, 2023	16,500	697	893	714	77.4	25	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	16,898	829	885	474	51.7	25	Oct 11, 2024	J-GAAP
YoY	+2.4%	+18.9%	-0.9%	-33.6%	-33.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	30,333	523	1,046	615	66.2	40	Apr 11, 2023	J-GAAP
Feb, 2024	31,886	1,225	1,826	1,283	139.0	45	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	34,000	1,500	1,850	1,050	114.5	45	Apr 12, 2024	J-GAAP
YoY	+6.6%	+22.4%	+1.3%	-18.2%	-17.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	7,790	271	538	345	37.4	3.5	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	8,345	522	766	766	83.0	6.3	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	8,155	175	127	-52	-5.6	2.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	8,254	189	450	250	27.2	2.3	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	8,848	482	515	326	35.5	5.4	Oct 11, 2024	J-GAAP
YoY	+13.6%	+77.9%	-4.3%	-5.5%	-5.0%