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Meiwa Corporation, First Half Ordinary Profit Increases by 17%

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 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%

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