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MINEBEA MITSUMI Inc., The Current Fiscal Year Net Income Revised Downward by 10%

Wed Nov 6, 2024 3:30 pm JST Earnings

6479 MINEBEA MITSUMI Inc. 【IFRS】

Earnings Report

MINEBEA MITSUMI Inc. <6479> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 27.1% from the same period last year, reaching 26 billion yen.

However, the full-year consolidated net income has downwardly by 9.6%, from the previous forecast of 73 billion yen to 66 billion yen (compared to 54 billion yen in the previous period), leading to a reduction in the profit growth rate from 35.1% to 22.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 19.1% from the same period last year, reaching 39.9 billion yen.

At the same time, the annual dividend remains undecided.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 12.1 billion yen, a 26.1% decrease compared to the same period last year. However, the operating profit margin improved from 5.7% in the same period last year to 6.7%.

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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 581,061 40,586 42,395 30,756 75.1 46.0 Nov 2, 2022 IFRS
Apr - Sep, 2023 672,117 28,490 31,529 20,496 50.3 41.7 Nov 2, 2023 IFRS
Apr - Sep, 2024 778,237 46,788 36,004 25,073 62.1 ー Nov 6, 2024 IFRS
YoY +15.8% +64.2% +14.2% +22.3% +23.5%

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 770,000 48,000 ー 34,000 84.1 － Aug 2, 2024 IFRS
Apr - Sep, 2024 Results 778,237 46,788 36,004 25,073 62.1 20 Nov 6, 2024 IFRS
Revision Rate +1.1% -2.5% － -26.3% -26.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 1,560,000 103,000 ー 73,000 181.8 － Aug 2, 2024 IFRS
Mar, 2025 New 1,560,000 103,000 ー 66,000 164.4 － Nov 6, 2024 IFRS
Revision Rate 0.0% 0.0% － -9.6% -9.6%

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 730,010 45,046 44,016 33,539 82.6 20 May 10, 2024 IFRS
Oct - Mar, 2024 Guidance 781,763 56,212 ー 40,927 101.9 － Nov 6, 2024 IFRS
YoY +7.1% +24.8% － +22.0% +23.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,292,203 97,530 92,128 73,152 178.2 40 May 11, 2023 IFRS
Mar, 2024 1,402,127 73,536 75,545 54,035 133.1 40 May 10, 2024 IFRS
Mar, 2025 Guidance 1,560,000 103,000 ー 66,000 164.4 － Nov 6, 2024 IFRS
YoY +11.3% +40.1% － +22.1% +23.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 379,747 21,747 23,027 16,387 40.2 5.7 Nov 2, 2023 IFRS
Oct - Dec, 2023 381,207 24,704 21,414 15,212 37.4 6.5 Feb 2, 2024 IFRS
Jan - Mar, 2024 348,803 20,342 22,602 18,327 45.1 5.8 May 10, 2024 IFRS
Apr - Jun, 2024 355,454 18,901 18,233 13,148 32.5 5.3 Aug 2, 2024 IFRS
Jul - Sep, 2024 422,783 27,887 17,771 11,925 29.5 6.6 Nov 6, 2024 IFRS
YoY +11.3% +28.2% -22.8% -27.2% -26.6%

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