Miyakoshi Holdings, Inc., First Half Ordinary Profit Decreases by 24%, July-September Ordinary Profit Decreases by 48%

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Fri Nov 8, 2024 2:00 pm JST Earnings

6620 Miyakoshi Holdings, Inc. 【J-GAAP】

Earnings Report

Miyakoshi Holdings, Inc. <6620> [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 23.8% from the same period last year to 320 million yen. However, The progress rate against the 540 million yen full-year plan was 59.3%, also surpassing the five-year average of 50.8%.

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 drop by 37.0% from the same period last year to 220 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 113 million yen, a 48.2% decrease compared to the same period last year. The operating profit margin decreased from 46.2% in the same period last year to 37.9%.

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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	666	232	467	273	6.8	59.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	565	229	420	282	7.1	54.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	570	201	320	204	5.1	59.3	Nov 8, 2024	J-GAAP
YoY	+0.9%	-12.2%	-23.8%	-27.7%	-27.8%

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	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	570	201	320	204	5.1	0	Nov 8, 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	572	192	349	254	6.4	0	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	420	59	220	156	3.9	0	Nov 8, 2024	J-GAAP
YoY	-26.6%	-69.3%	-37.0%	-38.6%	-38.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,319	466	779	501	12.5	0	May 12, 2023	J-GAAP
Mar, 2024	1,137	421	769	536	13.4	0	May 10, 2024	J-GAAP
Mar, 2025 Guidance	990	260	540	360	9.0	0	May 10, 2024	J-GAAP
YoY	-12.9%	-38.2%	-29.8%	-32.8%	-32.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	288	133	218	145	3.6	46.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	290	121	167	106	2.7	41.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	282	71	182	148	3.7	25.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	277	90	207	143	3.6	32.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	293	111	113	61	1.5	37.9	Nov 8, 2024	J-GAAP
YoY	+1.7%	-16.5%	-48.2%	-57.9%	-57.9%