Makino Milling Machine Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Dividend Revised Upward by 20 yen

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Thu Oct 31, 2024 3:00 pm JST Earnings

6135 Makino Milling Machine Co.,Ltd. 【J-GAAP】

Earnings Report

Makino Milling Machine Co.,Ltd. <6135> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.1% from the same period last year to 7.58 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 7.3%, from the previous forecast of 16.5 billion yen to 17.7 billion yen (compared to 18.9 billion yen in the previous period), and the declining rate is expected to decrease from 12.8% to 6.4%.

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 10.1% from the same period last year, reaching 10.1 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 160 yen to 180 yen (compared to 150 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.76 billion yen, a 3.4% decrease compared to the same period last year. However, the operating profit margin improved from 6.4% in the same period last year to 8.2%.

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	103,039	5,403	6,953	5,340	223.1	34.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	108,515	7,776	9,730	7,675	321.4	51.4	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	108,237	7,576	7,583	5,782	244.9	42.8	Oct 31, 2024	J-GAAP
YoY	-0.3%	-2.6%	-22.1%	-24.7%	-23.8%

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	101,500	5,200	5,700	4,800	205.2	80	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	108,237	7,576	7,583	5,782	244.9	80	Oct 31, 2024	J-GAAP
Revision Rate	+6.6%	+45.7%	+33.0%	+20.5%	+19.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	222,000	15,500	16,500	13,500	577.2	160	Apr 30, 2024	J-GAAP
Mar, 2025 New	225,000	17,000	17,700	14,500	620.0	180	Oct 31, 2024	J-GAAP
Revision Rate	+1.4%	+9.7%	+7.3%	+7.4%	+7.4%

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	116,845	8,596	9,188	8,306	348.5	80	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	116,763	9,424	10,117	8,718	372.7	100	Oct 31, 2024	J-GAAP
YoY	-0.1%	+9.6%	+10.1%	+5.0%	+7.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	227,985	17,492	19,906	16,073	671.9	150	Apr 28, 2023	J-GAAP
Mar, 2024	225,360	16,372	18,918	15,981	670.6	150	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	225,000	17,000	17,700	14,500	620.0	180	Oct 31, 2024	J-GAAP
YoY	-0.2%	+3.8%	-6.4%	-9.3%	-7.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	54,665	3,510	3,899	3,080	129.0	6.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	54,477	4,380	4,113	3,595	150.6	8.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	62,368	4,216	5,075	4,711	197.7	6.8	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	51,868	2,959	3,817	3,236	136.6	5.7	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	56,369	4,617	3,766	2,546	107.8	8.2	Oct 31, 2024	J-GAAP
YoY	+3.1%	+31.5%	-3.4%	-17.3%	-16.4%