MARUDAI FOOD CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 11%

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Fri Nov 8, 2024 3:30 pm JST Earnings

2288 MARUDAI FOOD CO.,LTD. 【J-GAAP】

Earnings Report

MARUDAI FOOD CO.,LTD. <2288> [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) expanded to 3.14 billion yen, an increase of 80.8% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 11.4%, from the previous forecast of 4.4 billion yen to 4.9 billion yen (compared to 3.63 billion yen in the previous period), increasing the growth rate from 20.9% to 34.7%.

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 7.6% from the same period last year to 1.75 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.1 times that of the same period last year, reaching 1.41 billion yen. The operating profit margin improved from 0.9% in the same period last year to 2.0%.

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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	110,557	-754	-515	-575	-22.9	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	114,118	1,482	1,738	983	39.3	47.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	118,582	2,882	3,143	4,272	171.9	64.1	Nov 8, 2024	J-GAAP
YoY	+3.9%	+94.5%	+80.8%	+334.6%	+337.0%

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	118,500	2,850	3,100	4,200	169.0	－	Oct 28, 2024	J-GAAP
Apr - Sep, 2024 Results	118,582	2,882	3,143	4,272	171.9	－	Nov 8, 2024	J-GAAP
Revision Rate	+0.1%	+1.1%	+1.4%	+1.7%	+1.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	235,000	4,000	4,400	4,000	163.4	30	May 13, 2024	J-GAAP
Mar, 2025 New	236,000	4,500	4,900	4,700	192.0	30	Nov 8, 2024	J-GAAP
Revision Rate	+0.4%	+12.5%	+11.4%	+17.5%	+17.5%

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	114,690	1,635	1,901	-10,397	-417.2	20	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	117,418	1,618	1,757	428	17.5	30	Nov 8, 2024	J-GAAP
YoY	+2.4%	-1.0%	-7.6%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	221,979	-1,400	-897	-4,987	-198.8	20	May 12, 2023	J-GAAP
Mar, 2024	228,808	3,117	3,639	-9,414	-377.7	20	May 13, 2024	J-GAAP
Mar, 2025 Guidance	236,000	4,500	4,900	4,700	192.0	30	Nov 8, 2024	J-GAAP
YoY	+3.1%	+44.4%	+34.7%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	57,855	508	684	7	0.3	0.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	61,790	1,736	1,788	1,452	58.2	2.8	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	52,900	-101	113	-11,849	-475.4	-0.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	58,330	1,667	1,725	3,204	128.9	2.9	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	60,252	1,215	1,418	1,068	43.0	2.0	Nov 8, 2024	J-GAAP
YoY	+4.1%	+139.2%	+107.3%	+15,157.1%	+15,250.0%