MT GENEX CORPORATION, First Half Ordinary Profit Decreases by 27%

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Fri Nov 8, 2024 3:30 pm JST Earnings

9820 MT GENEX CORPORATION 【J-GAAP】

Earnings Report

MT GENEX CORPORATION <9820> [TSE-S] 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) decreased by 26.5% from the same period last year to 191 million yen. However, The progress rate against the 337 million yen full-year plan was 56.7%, also surpassing the five-year average of 41.7%.

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 decrease by 24.0% from the same period last year to 146 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 125 million yen, an increase of 0.8% compared to the same period last year. The operating profit margin rose from 11.2% in the same period last year to 11.9%.

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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	1,515	143	150	94	87.8	39.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,021	253	260	160	149.5	57.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	1,877	179	191	113	105.1	56.7	Nov 8, 2024	J-GAAP
YoY	-7.1%	-29.2%	-26.5%	-29.4%	-29.7%

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	1,879	134	140	87	80.8	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	1,877	179	191	113	105.1	0	Nov 8, 2024	J-GAAP
Revision Rate	-0.1%	+33.6%	+36.4%	+29.9%	+30.0%

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	1,769	185	192	117	108.9	40	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,984	143	146	87	80.8	40	Nov 8, 2024	J-GAAP
YoY	+12.2%	-22.7%	-24.0%	-25.6%	-25.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,263	364	382	241	224.5	40	May 12, 2023	J-GAAP
Mar, 2024	3,790	438	452	277	257.9	40	May 13, 2024	J-GAAP
Mar, 2025 Guidance	3,861	322	337	200	185.8	40	May 13, 2024	J-GAAP
YoY	+1.9%	-26.5%	-25.4%	-27.8%	-27.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,084	121	124	75	70.1	11.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	931	137	142	93	86.6	14.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	838	48	50	24	22.3	5.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	856	58	66	34	32.3	6.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,021	121	125	79	73.5	11.9	Nov 8, 2024	J-GAAP
YoY	-5.8%	0.0%	+0.8%	+5.3%	+4.9%