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MITSUI MATSUSHIMA HOLDINGS CO., LTD., First Half Ordinary Profit Decreases by 76%

Fri Nov 8, 2024 4:00 pm JST Earnings

1518 MITSUI MATSUSHIMA HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MITSUI MATSUSHIMA HOLDINGS CO., LTD. <1518> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 76.0% from the same period last year to 4.16 billion yen. The progress rate against the 5.9 billion yen full-year plan was 70.6%, also surpassing the five-year average of 49.5%.

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 significant drop by 80.0% from the same period last year to 1.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 2.41 billion yen, a 65.7% decrease compared to the same period last year. The operating profit margin sharply declined from 39.8% in the same period last year to 15.2%.

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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 33,437 11,879 12,469 8,525 131.2 34.7 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 39,628 16,593 17,329 11,904 186.0 66.6 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 29,238 3,853 4,163 2,880 48.9 70.6 Nov 8, 2024 J-GAAP
YoY -26.2% -76.8% -76.0% -75.8% -73.7%

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 ー ー ー ー － 10 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 29,238 3,853 4,163 2,880 48.9 10 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 37,844 8,577 8,675 3,213 51.4 12 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 30,762 2,147 1,737 3,120 55.6 10 Nov 8, 2024 J-GAAP
YoY -18.7% -75.0% -80.0% -2.9% +8.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 80,015 35,789 35,933 22,977 353.6 64 May 15, 2023 J-GAAP
Mar, 2024 77,472 25,170 26,004 15,117 241.9 20 May 13, 2024 J-GAAP
Mar, 2025 Guidance 60,000 6,000 5,900 6,000 107.0 20 Jul 5, 2024 J-GAAP
YoY -22.6% -76.2% -77.3% -60.3% -55.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 16,822 6,703 7,027 4,822 75.4 39.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 17,579 4,577 4,908 3,628 57.4 26.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 20,265 4,000 3,767 -415 -6.6 19.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 13,536 1,460 1,752 1,370 23.1 10.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 15,702 2,393 2,411 1,510 25.7 15.2 Nov 8, 2024 J-GAAP
YoY -6.7% -64.3% -65.7% -68.7% -66.0%

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