MICREED Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Adds to Record High Profit Forecast, Dividend Revised Upward by 0.6 yen

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Thu Oct 31, 2024 4:00 pm JST Earnings

7687 MICREED Co.,Ltd. 【J-GAAP】

Earnings Report

MICREED Co.,Ltd. <7687> [TSE-G] announced its financial results after the market closed on October 31st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.0% from the same period last year, reaching 191 million yen.

In addition, the full-year ordinary profit has been revised upward by 9.0%, from the previous forecast of 335 million yen to 365 million yen (compared to 322 million yen in the previous period), increasing the growth rate from 4.0% to 13.4%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 13.7% from the same period last year, reaching 174 million 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 6.9 yen to 7.5 yen (compared to 20.3 yen before the 1-to-3 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 20.5% from the same period last year, reaching 100 million yen. The operating profit margin remained almost flat, changing from 5.6% in the same period last year to 5.8%.

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	2,128	71	73	48	7.4	37.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	2,903	168	169	110	16.9	52.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	3,312	190	191	124	18.9	52.3	Oct 31, 2024	J-GAAP
YoY	+14.1%	+13.1%	+13.0%	+12.7%	+12.1%

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	－	3.40	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	3,312	190	191	124	18.9	3.80	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	6,550	335	335	225	34.1	6.90	May 15, 2024	J-GAAP
Mar, 2025 New	6,850	365	365	245	37.2	7.50	Oct 31, 2024	J-GAAP
Revision Rate	+4.6%	+9.0%	+9.0%	+8.9%	+8.9%

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	3,033	154	153	112	17.1	3.37	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,538	175	174	121	18.4	3.70	Oct 31, 2024	J-GAAP
YoY	+16.7%	+13.6%	+13.7%	+8.0%	+7.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,668	194	196	134	20.6	4.13	May 12, 2023	J-GAAP
Mar, 2024	5,936	322	322	222	33.9	6.77	May 15, 2024	J-GAAP
Mar, 2025 Guidance	6,850	365	365	245	37.2	7.50	Oct 31, 2024	J-GAAP
YoY	+15.4%	+13.4%	+13.4%	+10.4%	+9.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,483	83	83	54	8.3	5.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	1,590	138	137	90	13.8	8.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	1,443	16	16	22	3.4	1.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,594	90	91	59	9.1	5.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	1,718	100	100	65	9.9	5.8	Oct 31, 2024	J-GAAP
YoY	+15.8%	+20.5%	+20.5%	+20.4%	+19.6%