Meiwa Corporation, First Half Ordinary Profit Increases by 17%

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Thu Oct 31, 2024 1:00 pm JST Earnings

8103 Meiwa Corporation 【J-GAAP】

Earnings Report

Meiwa Corporation <8103> [TSE-P] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.3% from the same period last year, reaching 1.85 billion yen. The progress rate against the 3.8 billion yen full-year plan was 48.9%, exceeding the five-year average of 44.8%.

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 October to March period (second half) is expected to decrease by 20.7% from the same period last year to 1.94 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 786 million yen, a 24.0% decrease compared to the same period last year. However, the operating profit margin improved from 1.5% in the same period last year to 1.9%.

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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	80,819	1,981	1,738	1,096	26.3	54.8	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	74,992	1,229	1,583	971	23.3	39.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	78,157	1,499	1,857	1,321	32.4	48.9	Oct 31, 2024	J-GAAP
YoY	+4.2%	+22.0%	+17.3%	+36.0%	+39.0%

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	ー	ー	ー	ー	－	0	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	78,157	1,499	1,857	1,321	32.4	0	Oct 31, 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
Oct - Mar, 2023	83,287	1,741	2,449	1,783	42.8	34	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	87,843	1,401	1,943	1,279	31.8	32	Oct 31, 2024	J-GAAP
YoY	+5.5%	-19.5%	-20.7%	-28.3%	-25.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	156,662	3,655	3,169	1,720	41.2	25	Apr 28, 2023	J-GAAP
Mar, 2024	158,279	2,970	4,032	2,754	66.1	34	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	166,000	2,900	3,800	2,600	64.7	32	Apr 30, 2024	J-GAAP
YoY	+4.9%	-2.4%	-5.8%	-5.6%	-2.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	37,582	553	1,034	702	16.8	1.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	43,245	1,077	1,370	972	23.3	2.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	40,042	664	1,079	811	19.5	1.7	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	39,742	780	1,071	756	18.4	2.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	38,415	719	786	565	13.8	1.9	Oct 31, 2024	J-GAAP
YoY	+2.2%	+30.0%	-24.0%	-19.5%	-17.7%