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MIYAIRI VALVE MFG.CO., LTD., First Half Net Income Turns to Loss, July-September Net Income Decreases by 69%

Fri Nov 8, 2024 4:15 pm JST Earnings

6495 MIYAIRI VALVE MFG.CO., LTD. 【J-GAAP】

Earnings Report

MIYAIRI VALVE MFG.CO., LTD. <6495> [TSE-S] announced its financial results after the market closed on November 8th (16:15). The net income/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 114 million yen (compared to a profit of 80 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to grow by 18.8% from the same period last year, reaching 114 million yen.

In the most recent three-month period, from July to September (2Q), the net income significantly dropped to 15 million yen, a 69.4% decrease compared to the same period last year. The operating profit/loss margin drastically worsened from 4.1% in the same period last year to -0.7%.

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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 3,201 81 81 52 1.1 31.5 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 2,842 112 111 80 1.7 53.4 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 3,213 14 13 -114 -2.4 8.1 Nov 8, 2024 J-GAAP
YoY +13.1% -87.5% -88.3% － －

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 2,800 80 70 -100 -2.1 0 Jun 27, 2024 J-GAAP
Apr - Sep, 2024 Results 3,213 14 13 -114 -2.4 0 Nov 8, 2024 J-GAAP
Revision Rate +14.8% -82.5% -81.4% -14.0% -14.4%

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 3,315 98 97 96 2.0 2 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,987 166 147 114 0.0 2 Nov 8, 2024 J-GAAP
YoY -9.9% +69.4% +51.5% +18.8% －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,331 264 257 233 4.9 2 May 15, 2023 J-GAAP
Mar, 2024 6,157 210 208 176 3.7 2 May 15, 2024 J-GAAP
Mar, 2025 Guidance 6,200 180 160 0 0.0 2 Jun 27, 2024 J-GAAP
YoY +0.7% -14.3% -23.1% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,369 56 54 49 1.0 4.1 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 1,690 69 68 65 1.4 4.1 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 1,625 29 29 31 0.7 1.8 May 15, 2024 J-GAAP
Apr - Jun, 2024 1,551 26 26 -129 -2.7 1.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 1,662 -12 -13 15 0.3 -0.7 Nov 8, 2024 J-GAAP
YoY +21.4% － － -69.4% -69.9%

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