Mitsui O.S.K.Lines,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Dividend Revised Upward by 20 yen

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Thu Oct 31, 2024 12:00 pm JST Earnings

9104 Mitsui O.S.K.Lines,Ltd. 【J-GAAP】

Earnings Report

Mitsui O.S.K.Lines,Ltd. <9104> [TSE-P] announced its financial results at noon (12:00) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 249 billion yen, an increase of 61.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 4.3%, from the previous forecast of 350 billion yen to 365 billion yen (compared to 258 billion yen in the previous period), increasing the growth rate from 35.1% to 40.9%.

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 11.0% from the same period last year, reaching 115 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 280 yen to 300 yen (compared to 220 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.2 times that of the same period last year, reaching 140 billion yen. The operating profit margin significantly improved from 6.1% in the same period last year to 10.4%.

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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	821,337	56,087	599,795	601,523	1,666.4	73.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	790,102	49,300	154,531	150,792	416.7	59.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	900,628	89,185	249,028	246,697	680.7	68.2	Oct 31, 2024	J-GAAP
YoY	+14.0%	+80.9%	+61.2%	+63.6%	+63.3%

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	933,000	81,000	230,000	230,000	634.5	180	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	900,628	89,185	249,028	246,697	680.7	180	Oct 31, 2024	J-GAAP
Revision Rate	-3.5%	+10.1%	+8.3%	+7.3%	+7.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,815,000	156,000	350,000	335,000	935.8	280	Jul 31, 2024	J-GAAP
Mar, 2025 New	1,790,000	153,000	365,000	350,000	977.7	300	Oct 31, 2024	J-GAAP
Revision Rate	-1.4%	-1.9%	+4.3%	+4.5%	+4.5%

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	837,810	53,832	104,455	110,859	306.3	110	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	889,372	63,815	115,972	103,303	288.6	120	Oct 31, 2024	J-GAAP
YoY	+6.2%	+18.5%	+11.0%	-6.8%	-5.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,611,984	108,709	811,589	796,060	2,204.0	560	Apr 28, 2023	J-GAAP
Mar, 2024	1,627,912	103,132	258,986	261,651	722.9	220	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	1,790,000	153,000	365,000	350,000	977.7	300	Oct 31, 2024	J-GAAP
YoY	+10.0%	+48.4%	+40.9%	+33.8%	+35.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	404,919	24,828	64,162	59,637	164.8	6.1	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	428,562	30,826	42,732	52,812	145.9	7.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	409,248	23,006	61,723	58,047	160.4	5.6	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	435,949	40,666	108,651	107,103	295.6	9.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	464,679	48,519	140,377	139,594	385.2	10.4	Oct 31, 2024	J-GAAP
YoY	+14.8%	+95.4%	+118.8%	+134.1%	+133.7%