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MITSUI-SOKO HOLDINGS Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 20%

Fri Nov 8, 2024 3:30 pm JST Earnings

9302 MITSUI-SOKO HOLDINGS Co., Ltd. 【J-GAAP】

Earnings Report

MITSUI-SOKO HOLDINGS Co., Ltd. <9302> [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) decreased by 22.1% from the same period last year to 9.5 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 19.6%, from the previous forecast of 14.8 billion yen to 17.7 billion yen (compared to 21 billion yen in the previous period), and the declining rate is expected to decrease from 29.6% to 15.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 6.9% from the same period last year to 8.19 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 5.51 billion yen, a 3.1% decrease compared to the same period last year. The operating profit margin worsened from 8.6% in the same period last year to 7.7%.

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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 157,252 13,673 14,446 9,169 123.0 54.4 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 131,862 11,843 12,206 7,182 96.2 58.1 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 138,672 9,459 9,504 5,847 78.2 53.7 Nov 8, 2024 J-GAAP
YoY +5.2% -20.1% -22.1% -18.6% -18.7%

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 135,000 7,700 7,300 4,600 61.5 24.33 Aug 2, 2024 J-GAAP
Apr - Sep, 2024 Results 138,672 9,459 9,504 5,847 78.2 24.33 Nov 8, 2024 J-GAAP
Revision Rate +2.7% +22.8% +30.2% +27.1% +27.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 275,000 15,500 14,800 8,700 116.3 48.67 Aug 2, 2024 J-GAAP
Mar, 2025 New 280,000 18,000 17,700 10,000 133.7 48.67 Nov 8, 2024 J-GAAP
Revision Rate +1.8% +16.1% +19.6% +14.9% +14.9%

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 128,731 8,911 8,804 4,925 65.9 26.34 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 141,328 8,541 8,196 4,153 55.5 24.34 Nov 8, 2024 J-GAAP
YoY +9.8% -4.2% -6.9% -15.7% -15.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 300,836 25,961 26,533 15,617 209.4 63 May 10, 2023 J-GAAP
Mar, 2024 260,593 20,754 21,010 12,107 162.1 48.67 May 10, 2024 J-GAAP
Mar, 2025 Guidance 280,000 18,000 17,700 10,000 133.7 48.67 Nov 8, 2024 J-GAAP
YoY +7.4% -13.3% -15.8% -17.4% -17.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 65,874 5,685 5,685 3,402 45.6 8.6 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 65,602 5,052 5,230 2,793 37.4 7.7 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 63,129 3,859 3,574 2,132 28.5 6.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 65,620 3,828 3,993 2,975 39.8 5.8 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 73,052 5,631 5,511 2,872 38.4 7.7 Nov 8, 2024 J-GAAP
YoY +10.9% -0.9% -3.1% -15.6% -15.7%

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