Mitsubishi Logisnext Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 36%

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Tue Nov 5, 2024 1:30 pm JST Earnings

7105 Mitsubishi Logisnext Co., Ltd. 【J-GAAP】

Earnings Report

Mitsubishi Logisnext Co., Ltd. <7105> [TSE-S] announced its financial results in the afternoon session on November 5th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 41.4% from the same period last year to 12.3 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 36.4%, from the previous forecast of 33 billion yen to 21 billion yen (compared to 37.4 billion yen in the previous period), leading to an increase in the profit decline rate from 12.0% to 44.0%.

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 drop by 47.2% from the same period last year to 8.66 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 6.52 billion yen, a 42.9% decrease compared to the same period last year. The operating profit margin worsened from 7.0% in the same period last year to 5.2%.

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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	279,595	963	909	-1,426	-13.4	7.8	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	343,772	22,737	21,060	16,562	155.3	56.2	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	328,549	15,446	12,332	9,973	93.5	58.7	Nov 5, 2024	J-GAAP
YoY	-4.4%	-32.1%	-41.4%	-39.8%	-39.8%

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	ー	ー	ー	ー	－	－	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	328,549	15,446	12,332	9,973	93.5	－	Nov 5, 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	680,000	38,000	33,000	29,000	271.9	24	May 8, 2024	J-GAAP
Mar, 2025 New	670,000	27,000	21,000	18,000	168.8	24	Nov 5, 2024	J-GAAP
Revision Rate	-1.5%	-28.9%	-36.4%	-37.9%	-37.9%

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	357,998	19,866	16,419	10,958	102.8	20	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	341,451	11,554	8,668	8,027	75.3	24	Nov 5, 2024	J-GAAP
YoY	-4.6%	-41.8%	-47.2%	-26.7%	-26.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	615,421	14,709	11,646	6,913	64.8	9	May 10, 2023	J-GAAP
Mar, 2024	701,770	42,603	37,479	27,520	258.1	20	May 8, 2024	J-GAAP
Mar, 2025 Guidance	670,000	27,000	21,000	18,000	168.8	24	Nov 5, 2024	J-GAAP
YoY	-4.5%	-36.6%	-44.0%	-34.6%	-34.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	177,645	12,415	11,431	9,954	93.3	7.0	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	177,183	13,235	11,788	8,027	75.3	7.5	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	180,815	6,631	4,631	2,931	27.5	3.7	May 8, 2024	J-GAAP
Apr - Jun, 2024	165,885	7,008	5,809	7,781	73.0	4.2	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	162,664	8,438	6,523	2,192	20.6	5.2	Nov 5, 2024	J-GAAP
YoY	-8.4%	-32.0%	-42.9%	-78.0%	-78.0%