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Mitsubishi Logistics Corporation, First Half Ordinary Profit Decreases by 13%, July-September Ordinary Profit Decreases by 7%

Thu Oct 31, 2024 3:00 pm JST Earnings

9301 Mitsubishi Logistics Corporation 【J-GAAP】

Earnings Report

Mitsubishi Logistics Corporation <9301> [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 12.8% from the same period last year to 11.6 billion yen. The progress rate against the 24.8 billion yen full-year plan was 46.9%, also falling below the five-year average of 50.0%.

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 grow by 19.5% from the same period last year, reaching 13.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 5.34 billion yen, a 7.3% decrease compared to the same period last year. The operating profit margin worsened from 8.0% in the same period last year to 7.1%.

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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 154,266 11,728 16,101 13,012 32.3 53.6 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 125,760 9,920 13,345 9,462 24.3 54.8 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 134,890 8,995 11,641 16,359 43.5 46.9 Oct 31, 2024 J-GAAP
YoY +7.3% -9.3% -12.8% +72.9% +79.3%

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 130,000 8,700 11,300 18,100 48.6 16 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 134,890 8,995 11,641 16,359 43.5 16 Oct 31, 2024 J-GAAP
Revision Rate +3.8% +3.4% +3.0% -9.6% -10.5%

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 128,747 9,021 11,013 18,325 47.4 14 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 135,110 11,005 13,159 20,241 56.2 16 Oct 31, 2024 J-GAAP
YoY +4.9% +22.0% +19.5% +10.5% +18.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 300,594 23,027 30,046 27,226 68.4 18 Apr 28, 2023 J-GAAP
Mar, 2024 254,507 18,941 24,358 27,787 71.9 24 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 270,000 20,000 24,800 36,600 101.7 32 Sep 27, 2024 J-GAAP
YoY +6.1% +5.6% +1.8% +31.7% +41.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 62,545 5,022 5,763 4,026 10.3 8.0 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 66,692 5,860 7,859 15,134 39.0 8.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 62,055 3,161 3,154 3,191 8.3 5.1 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 65,877 4,069 6,296 12,784 33.8 6.2 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 69,013 4,926 5,345 3,575 9.5 7.1 Oct 31, 2024 J-GAAP
YoY +10.3% -1.9% -7.3% -11.2% -7.9%

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