MIRAI INDUSTRY CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 8%

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Thu Oct 24, 2024 3:00 pm JST Earnings

7931 MIRAI INDUSTRY CO.,LTD. 【J-GAAP】

Earnings Report

MIRAI INDUSTRY CO.,LTD. <7931> [TSE-P] announced its financial results after the market closed on October 24th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.7% from the same period last year, reaching 3.54 billion yen, resulting in an increase in profits compared to the previous forecast of a 10.6% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.4%, from the previous forecast of 6.22 billion yen to 6.74 billion yen (compared to 7.47 billion yen in the previous period), and the declining rate is expected to decrease from 16.7% to 9.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 22.8% from the same period last year to 3.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.87 billion yen, a 1.2% decrease compared to the same period last year. The operating profit margin decreased from 17.4% in the same period last year to 16.4%.

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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
Apr - Sep, 2022	19,141	1,821	1,875	1,241	72.2	45.2	Oct 25, 2022	J-GAAP
Apr - Sep, 2023	21,689	3,253	3,323	2,252	130.9	44.4	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	22,363	3,468	3,544	2,398	148.7	52.5	Oct 24, 2024	J-GAAP
YoY	+3.1%	+6.6%	+6.7%	+6.5%	+13.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	22,232	2,910	2,970	2,005	124.4	50	Apr 25, 2024	J-GAAP
Apr - Sep, 2024 Results	22,363	3,468	3,544	2,398	148.7	50	Oct 24, 2024	J-GAAP
Revision Rate	+0.6%	+19.2%	+19.3%	+19.6%	+19.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	45,163	6,102	6,227	4,205	260.7	130	Apr 25, 2024	J-GAAP
Mar, 2025 New	45,292	6,609	6,749	4,563	282.9	130	Oct 24, 2024	J-GAAP
Revision Rate	+0.3%	+8.3%	+8.4%	+8.5%	+8.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	22,402	4,079	4,154	2,864	170.5	100	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	22,929	3,141	3,205	2,165	134.2	80	Oct 24, 2024	J-GAAP
YoY	+2.4%	-23.0%	-22.8%	-24.4%	-21.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,568	4,044	4,152	2,742	159.4	50	Apr 27, 2023	J-GAAP
Mar, 2024	44,091	7,332	7,477	5,116	304.5	150	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	45,292	6,609	6,749	4,563	282.9	130	Oct 24, 2024	J-GAAP
YoY	+2.7%	-9.9%	-9.7%	-10.8%	-7.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,625	1,854	1,901	1,210	70.3	17.4	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	12,382	2,456	2,506	1,728	101.5	19.8	Jan 25, 2024	J-GAAP
Jan - Mar, 2024	10,020	1,623	1,648	1,136	67.6	16.2	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	11,142	1,631	1,665	1,127	69.9	14.6	Jul 24, 2024	J-GAAP
Jul - Sep, 2024	11,221	1,837	1,879	1,271	78.8	16.4	Oct 24, 2024	J-GAAP
YoY	+5.6%	-0.9%	-1.2%	+5.0%	+12.1%