Mizuno Corporation, First Half Ordinary Profit Increases by 7%

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Fri Nov 8, 2024 3:30 pm JST Earnings

8022 Mizuno Corporation 【J-GAAP】

Earnings Report

Mizuno Corporation <8022> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 7.2% from the same period last year, reaching 11.3 billion yen. The progress rate against the 20.5 billion yen full-year plan was 55.2%, also surpassing the five-year average of 47.3%.

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 5.2% from the same period last year, reaching 9.19 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.91 billion yen, a 7.4% decrease compared to the same period last year. However, the operating profit margin improved from 6.9% in the same period last year to 7.9%.

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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	99,204	8,140	8,545	6,429	251.6	60.9	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	114,506	9,294	10,552	7,782	304.4	54.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	119,613	11,151	11,308	8,097	316.6	55.2	Nov 8, 2024	J-GAAP
YoY	+4.5%	+20.0%	+7.2%	+4.0%	+4.0%

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	－	60	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	119,613	11,151	11,308	8,097	316.6	60	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	115,205	7,985	8,736	6,529	255.4	85	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	130,387	7,849	9,192	6,903	269.9	60	Nov 8, 2024	J-GAAP
YoY	+13.2%	-1.7%	+5.2%	+5.7%	+5.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	212,044	12,945	14,039	9,910	387.7	70	May 12, 2023	J-GAAP
Mar, 2024	229,711	17,279	19,288	14,311	559.7	120	May 10, 2024	J-GAAP
Mar, 2025 Guidance	250,000	19,000	20,500	15,000	586.4	120	May 10, 2024	J-GAAP
YoY	+8.8%	+10.0%	+6.3%	+4.8%	+4.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	57,330	3,950	4,224	3,112	121.7	6.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	53,540	4,444	4,493	3,540	138.5	8.3	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	61,665	3,541	4,243	2,989	116.9	5.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	60,783	6,498	7,398	5,135	200.9	10.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	58,830	4,653	3,910	2,962	115.8	7.9	Nov 8, 2024	J-GAAP
YoY	+2.6%	+17.8%	-7.4%	-4.8%	-4.8%