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Mitsuboshi Belting Ltd., First Half Ordinary Profit Decreases by 24%, July-September Ordinary Profit Decreases by 17%

Fri Nov 8, 2024 2:00 pm JST Earnings

5192 Mitsuboshi Belting Ltd. 【J-GAAP】

Earnings Report

Mitsuboshi Belting Ltd. <5192> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 23.6% from the same period last year to 4.28 billion yen. The progress rate against the 8.6 billion yen full-year plan was 49.8%, almost the same as the five-year average of 52.3%.

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 8.0% from the same period last year, reaching 4.31 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.96 billion yen, a 16.9% decrease compared to the same period last year. However, the operating profit margin significantly improved from 9.8% in the same period last year to 12.9%.

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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 42,568 4,597 5,731 3,919 137.9 54.7 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 42,028 4,137 5,611 3,593 126.7 58.4 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 45,451 4,548 4,286 6,091 214.7 49.8 Nov 8, 2024 J-GAAP
YoY +8.1% +9.9% -23.6% +69.5% +69.4%

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 45,000 4,400 4,100 6,100 214.9 90 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 45,451 4,548 4,286 6,091 214.7 90 Nov 8, 2024 J-GAAP
Revision Rate +1.0% +3.4% +4.5% -0.1% -0.1%

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 41,986 3,622 3,994 3,509 123.7 125 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 43,049 4,502 4,314 3,209 114.0 90 Nov 8, 2024 J-GAAP
YoY +2.5% +24.3% +8.0% -8.5% -7.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 82,911 9,030 10,471 7,071 249.1 250 May 12, 2023 J-GAAP
Mar, 2024 84,014 7,759 9,605 7,102 250.4 250 May 14, 2024 J-GAAP
Mar, 2025 Guidance 88,500 9,050 8,600 9,300 330.4 180 May 14, 2024 J-GAAP
YoY +5.3% +16.6% -10.5% +30.9% +32.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 21,479 2,110 2,365 1,402 49.4 9.8 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 21,008 2,088 1,938 1,540 54.3 9.9 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 20,978 1,534 2,056 1,969 69.4 7.3 May 14, 2024 J-GAAP
Apr - Jun, 2024 22,443 1,591 2,320 4,438 156.5 7.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 23,008 2,957 1,966 1,653 58.3 12.9 Nov 8, 2024 J-GAAP
YoY +7.1% +40.1% -16.9% +17.9% +17.8%

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