Mitsubishi Shokuhin Co., Ltd., First Half Ordinary Profit Decreases by 2%, July-September Ordinary Profit Increases by 0.5％

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Thu Nov 7, 2024 3:00 pm JST Earnings

7451 Mitsubishi Shokuhin Co., Ltd. 【J-GAAP】

Earnings Report

Mitsubishi Shokuhin Co., Ltd. <7451> [TSE-S] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 14.4 billion yen, a 1.7% decrease compared to the same period last year. The progress rate against the 33 billion yen full-year plan was 43.7%, almost the same as the five-year average of 41.9%.

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 11.0% from the same period last year, reaching 18.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 8.12 billion yen, an increase of 0.5% compared to the same period last year. However, the operating profit margin remained almost flat, changing from 1.5% in the same period last year to 1.5%.

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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	998,603	10,060	11,081	7,454	171.3	44.0	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	1,047,407	13,669	14,661	10,159	233.9	46.7	Nov 1, 2023	J-GAAP
Apr - Sep, 2024	1,059,312	13,938	14,415	10,030	231.0	43.7	Nov 7, 2024	J-GAAP
YoY	+1.1%	+2.0%	-1.7%	-1.3%	-1.2%

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	－	90	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	1,059,312	13,938	14,415	10,030	231.0	90	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	1,028,974	15,859	16,746	12,423	286.0	80	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,070,688	17,562	18,585	12,770	294.4	95	Nov 7, 2024	J-GAAP
YoY	+4.1%	+10.7%	+11.0%	+2.8%	+2.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,996,780	23,433	25,199	17,126	393.9	110	May 11, 2023	J-GAAP
Mar, 2024	2,076,381	29,528	31,407	22,582	519.9	160	May 9, 2024	J-GAAP
Mar, 2025 Guidance	2,130,000	31,500	33,000	22,800	525.7	185	May 9, 2024	J-GAAP
YoY	+2.6%	+6.7%	+5.1%	+1.0%	+1.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	534,654	7,825	8,088	5,601	129.0	1.5	Nov 1, 2023	J-GAAP
Oct - Dec, 2023	540,008	10,425	10,984	8,252	190.0	1.9	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	488,966	5,434	5,762	4,171	96.0	1.1	May 9, 2024	J-GAAP
Apr - Jun, 2024	522,093	6,117	6,289	4,411	101.6	1.2	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	537,219	7,821	8,126	5,619	129.4	1.5	Nov 7, 2024	J-GAAP
YoY	+0.5%	-0.1%	+0.5%	+0.3%	+0.3%