MISUMI Group Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 3.8 yen

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Fri Oct 25, 2024 3:00 pm JST Earnings

9962 MISUMI Group Inc. 【J-GAAP】

Earnings Report

MISUMI Group Inc. <9962> [TSE-P] 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) increased by 26.1% from the same period last year, reaching 25.2 billion yen, exceeded the previous forecast of 20.9 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.9%, from the previous forecast of 47.4 billion yen to 51.6 billion yen (compared to 41.2 billion yen in the previous period), increasing the growth rate from 14.9% to 25.0%.

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 grow by 24.1% from the same period last year, reaching 26.3 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 36.62 yen to 40.42 yen (compared to 27.47 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 21.0% from the same period last year, reaching 12.3 billion yen. The operating profit margin rose from 10.5% in the same period last year to 11.7%.

Kabutan News

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	188,158	26,898	27,527	20,240	71.2	57.5	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	180,094	18,515	20,007	14,185	50.2	48.5	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	198,022	23,390	25,221	18,200	65.2	48.9	Oct 25, 2024	J-GAAP
YoY	+10.0%	+26.3%	+26.1%	+28.3%	+30.0%

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	189,800	20,200	20,900	15,200	55.1	16.18	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	198,022	23,390	25,221	18,200	65.2	19.83	Oct 25, 2024	J-GAAP
Revision Rate	+4.3%	+15.8%	+20.7%	+19.7%	+18.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	393,000	46,000	47,400	34,400	125.3	36.62	Apr 26, 2024	J-GAAP
Mar, 2025 New	401,200	49,100	51,600	37,100	135.2	40.42	Oct 25, 2024	J-GAAP
Revision Rate	+2.1%	+6.7%	+8.9%	+7.8%	+7.9%

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	187,555	19,850	21,258	13,967	49.5	14.87	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	203,178	25,710	26,379	18,900	68.9	20.59	Oct 25, 2024	J-GAAP
YoY	+8.3%	+29.5%	+24.1%	+35.3%	+39.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	373,151	46,615	47,838	34,282	120.5	30.14	Apr 27, 2023	J-GAAP
Mar, 2024	367,649	38,365	41,265	28,152	99.8	27.47	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	401,200	49,100	51,600	37,100	135.2	40.42	Oct 25, 2024	J-GAAP
YoY	+9.1%	+28.0%	+25.0%	+31.8%	+35.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	90,228	9,516	10,170	8,098	28.7	10.5	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	92,729	10,388	11,150	8,270	29.3	11.2	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	94,826	9,462	10,108	5,697	20.2	10.0	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	99,527	11,828	12,916	9,251	32.9	11.9	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	98,495	11,562	12,305	8,949	32.1	11.7	Oct 25, 2024	J-GAAP
YoY	+9.2%	+21.5%	+21.0%	+10.5%	+11.9%