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Mitsubishi Kakoki Kaisha, Ltd., First Half Ordinary Profit Decreases by 8%, July-September Ordinary Profit Decreases by 50%

Thu Oct 31, 2024 4:00 pm JST Earnings

6331 Mitsubishi Kakoki Kaisha, Ltd. 【J-GAAP】

Earnings Report

Mitsubishi Kakoki Kaisha, Ltd. <6331> [TSE-P] announced its financial results after the market closed on October 31st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.9% from the same period last year to 2.2 billion yen. The progress rate against the 4.55 billion yen full-year plan was 48.5%, almost the same as the five-year average of 47.4%.

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 1.3% from the same period last year, reaching 2.34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 898 million yen, a 50.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.3% in the same period last year to 7.9%.

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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 21,200 1,902 2,163 1,536 67.3 75.7 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 22,145 2,177 2,396 1,602 70.1 50.9 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 26,623 2,226 2,168 1,440 63.1 47.6 Oct 31, 2024 J-GAAP
YoY +20.2% +2.3% -9.5% -10.1% -10.0%

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 26,500 1,950 1,850 1,250 54.8 16.67 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 26,623 2,226 2,168 1,440 63.1 16.67 Oct 31, 2024 J-GAAP
Revision Rate +0.5% +14.2% +17.2% +15.2% +15.2%

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 25,629 2,233 2,313 3,795 166.1 26.67 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 31,377 2,574 2,382 1,760 77.1 20 Oct 31, 2024 J-GAAP
YoY +22.4% +15.3% +3.0% -53.6% -53.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 44,590 2,521 2,859 3,043 133.2 26.67 May 15, 2023 J-GAAP
Mar, 2024 47,774 4,410 4,709 5,397 236.2 36.67 May 15, 2024 J-GAAP
Mar, 2025 Guidance 58,000 4,800 4,550 3,200 140.2 36.67 May 15, 2024 J-GAAP
YoY +21.4% +8.8% -3.4% -40.7% -40.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,902 1,842 1,801 1,161 50.8 14.3 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 12,075 1,128 1,157 2,675 117.1 9.3 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 13,554 1,105 1,156 1,120 49.0 8.2 May 15, 2024 J-GAAP
Apr - Jun, 2024 11,944 1,099 1,309 917 40.2 9.2 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 14,679 1,127 859 523 22.9 7.7 Oct 31, 2024 J-GAAP
YoY +13.8% -38.8% -52.3% -55.0% -54.9%

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