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MIE CORPORATION CO., LTD, First Half Ordinary Profit Decreases by 8%

Fri Nov 8, 2024 2:40 pm JST Earnings

3442 MIE CORPORATION CO., LTD 【J-GAAP】

Earnings Report

MIE CORPORATION CO., LTD <3442> [NSE-M] announced its financial results in the afternoon session on November 8th (14:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 8.0% from the same period last year to 252 million yen. The progress rate against the 520 million yen full-year plan was 48.5%, which was higher than the five-year average of 43.3%.

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 2.3% from the same period last year, reaching 268 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 119 million yen, a 2.5% decrease compared to the same period last year. The operating profit margin worsened from 8.4% in the same period last year to 7.4%.

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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 3,378 258 213 124 103.6 49.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 3,361 294 274 178 148.4 51.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 3,464 270 252 175 146.0 48.5 Nov 8, 2024 J-GAAP
YoY +3.1% -8.2% -8.0% -1.7% -1.6%

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 3,350 270 260 180 149.6 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 3,464 270 252 175 146.0 0 Nov 8, 2024 J-GAAP
Revision Rate +3.4% 0.0% -3.1% -2.8% -2.4%

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 3,450 271 262 194 161.4 20 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,236 270 268 185 153.7 20 Nov 8, 2024 J-GAAP
YoY -6.2% -0.4% +2.3% -4.6% -4.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,579 498 431 358 298.1 0 May 12, 2023 J-GAAP
Mar, 2024 6,811 565 536 372 309.5 20 May 10, 2024 J-GAAP
Mar, 2025 Guidance 6,700 540 520 360 299.2 20 May 10, 2024 J-GAAP
YoY -1.6% -4.4% -3.0% -3.2% -3.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,673 140 122 80 66.7 8.4 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 1,819 167 163 124 103.1 9.2 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 1,631 104 99 70 58.3 6.4 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,651 136 133 97 81.0 8.2 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 1,813 134 119 78 65.1 7.4 Nov 8, 2024 J-GAAP
YoY +8.4% -4.3% -2.5% -2.5% -2.4%

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