MUGEN ESTATE Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 35%, Highest in Seven Terms, Dividend Revised Upward by 24 yen

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Tue Nov 5, 2024 2:00 pm JST Revision

3299 MUGEN ESTATE Co.,Ltd. 【J-GAAP】

Guidance Update Report

MUGEN ESTATE Co.,Ltd. <3299> [TSE-S] announced a revision to its performance and dividend in the afternoon session on November 5th (14:00). The consolidated ordinary profit for the fiscal year ending December 2024 has been revised upward by 35.1%, from the previous forecast of 6.03 billion yen to 8.15 billion yen (compared to 5.24 billion yen in the previous period), increasing the growth rate from 15.1% to 55.5%, reaches new record high for the first time in seven terms.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (second half) consolidated ordinary profit is expected to increase by 2.5 times, from the previous forecast of 1.39 billion yen to 3.5 billion yen (compared to 2.32 billion yen in the same period of the previous year), turning to a 50.9% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 68 yen to 92 yen (compared to 63 yen in the previous period).

Kabutan News

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	29,394	1,832	1,391	921	39.6	68	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	29,722	3,916	3,509	2,308	99.2	92	Nov 5, 2024	J-GAAP
Revision Rate	+1.1%	+113.8%	+152.3%	+150.6%	+150.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	60,896	6,861	6,036	3,985	171.3	68	Feb 14, 2024	J-GAAP
Dec, 2024 New	61,224	8,945	8,154	5,372	230.9	92	Nov 5, 2024	J-GAAP
Revision Rate	+0.5%	+30.4%	+35.1%	+34.8%	+34.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	25,393	2,633	2,325	1,724	73.3	63	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	29,722	3,916	3,509	2,308	99.2	92	Nov 5, 2024	J-GAAP
YoY	+17.0%	+48.7%	+50.9%	+33.9%	+35.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	31,242	2,976	2,309	1,564	66.6	20	Feb 14, 2023	J-GAAP
Dec, 2023	51,640	5,936	5,243	3,653	155.3	63	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	61,224	8,945	8,154	5,372	230.9	92	Nov 5, 2024	J-GAAP
YoY	+18.6%	+50.7%	+55.5%	+47.1%	+48.7%