Makoto Construction CO,Ltd, The Current Fiscal Year Ordinary Profit Revised Downward by 71%

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Fri Nov 8, 2024 4:00 pm JST Earnings

8995 Makoto Construction CO,Ltd 【J-GAAP】

Earnings Report

Makoto Construction CO,Ltd <8995> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 60 million yen (compared to a profit of 106 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has downwardly by 70.6%, from the previous forecast of 170 million yen to 50 million yen (compared to 192 million yen in the previous period), leading to an increase in the profit decline rate from 11.5% to 74.0%.

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 grow by 27.9% from the same period last year, reaching 110 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 41 million yen (compared to a profit of 65 million yen in the same period last year). The operating profit/loss margin drastically worsened from 6.6% in the same period last year to -7.5%.

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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	1,290	76	84	57	28.7	25.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	1,500	96	106	72	35.9	55.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	991	-59	-60	-4	-2.3	ー	Nov 8, 2024	J-GAAP
YoY	-33.9%	－	－	－	－

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	991	-53	-54	0	0.0	0	Oct 29, 2024	J-GAAP
Apr - Sep, 2024 Results	991	-59	-60	-4	-2.3	0	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	-11.3%	-11.1%	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	3,005	165	170	115	57.2	25	May 14, 2024	J-GAAP
Mar, 2025 New	2,800	50	50	75	37.3	25	Nov 8, 2024	J-GAAP
Revision Rate	-6.8%	-69.7%	-70.6%	-34.8%	-34.8%

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	1,689	82	86	59	29.3	25	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,809	109	110	79	39.3	25	Nov 8, 2024	J-GAAP
YoY	+7.1%	+32.9%	+27.9%	+33.9%	+33.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,467	317	328	219	109.3	25	May 12, 2023	J-GAAP
Mar, 2024	3,189	178	192	131	65.1	25	May 14, 2024	J-GAAP
Mar, 2025 Guidance	2,800	50	50	75	37.3	25	Nov 8, 2024	J-GAAP
YoY	-12.2%	-71.9%	-74.0%	-42.7%	-42.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	911	60	65	46	22.9	6.6	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	946	63	68	46	22.9	6.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	743	19	18	13	6.5	2.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	513	-23	-19	-14	-7.3	-4.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	478	-36	-41	10	5.8	-7.5	Nov 8, 2024	J-GAAP
YoY	-47.5%	－	－	-78.3%	-74.9%