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Meito Sangyo Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 20%

Fri Nov 8, 2024 4:20 pm JST Earnings

2207 Meito Sangyo Co.,Ltd. 【J-GAAP】

Earnings Report

Meito Sangyo Co.,Ltd. <2207> [TSE-P] announced its financial results after the market closed on November 8th (16:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.6 times that of the same period last year, reaching 1.64 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 20.0%, from the previous forecast of 2 billion yen to 2.4 billion yen (compared to 1.43 billion yen in the previous period), increasing the growth rate from 39.9% to 67.8%.

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 4.3% from the same period last year to 751 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 6.6 times that of the same period last year, reaching 648 million yen. The operating profit margin drastically improved from 2.0% in the same period last year to 7.7%.

Kabutan News

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 10,278 65 652 398 23.6 57.6 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 11,290 -58 645 468 27.7 45.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 13,815 923 1,649 3,399 200.9 68.7 Nov 8, 2024 J-GAAP
YoY +22.4% － +155.7% +626.3% +625.5%

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 － 17 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 13,815 923 1,649 3,399 200.9 17 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 28,000 800 2,000 4,000 236.3 33 Aug 9, 2024 J-GAAP
Mar, 2025 New 28,000 1,200 2,400 4,400 259.9 33 Nov 8, 2024 J-GAAP
Revision Rate 0.0% +50.0% +20.0% +10.0% +10.0%

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 13,102 290 785 -1,171 -69.3 15 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 14,185 277 751 1,001 59.1 16 Nov 8, 2024 J-GAAP
YoY +8.3% -4.5% -4.3% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 22,727 95 1,132 700 41.5 26 May 12, 2023 J-GAAP
Mar, 2024 24,392 232 1,430 -703 -41.6 28 May 13, 2024 J-GAAP
Mar, 2025 Guidance 28,000 1,200 2,400 4,400 259.9 33 Nov 8, 2024 J-GAAP
YoY +14.8% +417.2% +67.8% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,915 117 98 97 5.7 2.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 6,946 316 704 489 28.9 4.5 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 6,156 -26 81 -1,660 -98.2 -0.4 May 13, 2024 J-GAAP
Apr - Jun, 2024 6,031 322 1,001 958 56.7 5.3 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 7,784 601 648 2,441 144.3 7.7 Nov 8, 2024 J-GAAP
YoY +31.6% +413.7% +561.2% +2,416.5% +2,413.2%

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