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MK SEIKO CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 80%

Fri Oct 25, 2024 3:00 pm JST Earnings

5906 MK SEIKO CO., LTD. 【J-GAAP】

Earnings Report

MK SEIKO CO., LTD. <5906> [TSE-S] announced its financial results after the market closed on October 25th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.52 billion yen, an increase of 45.5% compared to the same period last year, exceeded the previous forecast of 1.1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 80.0%, from the previous forecast of 1 billion yen to 1.8 billion yen (compared to 2.25 billion yen in the previous period), and the declining rate is expected to decrease from 55.6% to 20.1%.

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 significant drop by 77.0% from the same period last year to 278 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 754 million yen, an increase of 0.1% compared to the same period last year. The operating profit margin improved from 9.3% in the same period last year to 10.0%.

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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 12,728 648 723 482 33.0 39.8 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 13,795 980 1,046 655 44.8 46.4 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 14,830 1,513 1,522 1,009 67.3 84.6 Oct 25, 2024 J-GAAP
YoY +7.5% +54.4% +45.5% +54.0% +50.2%

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 14,000 1,100 1,100 700 47.6 0 Jul 26, 2024 J-GAAP
Apr - Sep, 2024 Results 14,830 1,513 1,522 1,009 67.3 0 Oct 25, 2024 J-GAAP
Revision Rate +5.9% +37.5% +38.4% +44.1% +41.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 26,500 1,000 1,000 650 44.2 8 Apr 26, 2024 J-GAAP
Mar, 2025 New 27,500 1,800 1,800 1,200 81.5 8 Oct 25, 2024 J-GAAP
Revision Rate +3.8% +80.0% +80.0% +84.6% +84.6%

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 14,679 1,147 1,207 58 4.0 8 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,670 287 278 191 13.0 8 Oct 25, 2024 J-GAAP
YoY -13.7% -75.0% -77.0% +229.3% +227.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 27,327 1,694 1,816 1,167 79.9 10 Apr 27, 2023 J-GAAP
Mar, 2024 28,474 2,127 2,253 713 48.7 8 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 27,500 1,800 1,800 1,200 81.5 8 Oct 25, 2024 J-GAAP
YoY -3.4% -15.4% -20.1% +68.3% +67.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,620 708 753 495 33.8 9.3 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 8,807 1,211 1,269 855 58.4 13.8 Jan 26, 2024 J-GAAP
Jan - Mar, 2024 5,872 -64 -62 -797 -54.4 -1.1 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 7,040 731 768 515 35.1 10.4 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 7,790 782 754 494 32.9 10.0 Oct 25, 2024 J-GAAP
YoY +2.2% +10.5% +0.1% -0.2% -2.7%

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