MIMAKI ENGINEERING CO.,LTD., First Half Ordinary Profit Increases by 2.1 times, July-September Ordinary Profit Increases by 55%

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Mon Nov 11, 2024 11:30 am JST Earnings

6638 MIMAKI ENGINEERING CO.,LTD. 【J-GAAP】

Earnings Report

MIMAKI ENGINEERING CO.,LTD. <6638> [TSE-P] announced its financial results at noon (11:30) on November 11th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.1 times that of the same period last year, reaching 4.32 billion yen. The progress rate against the 7.5 billion yen full-year plan was 57.6%, also surpassing the five-year average of 49.3%.

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 grow by 10.8% from the same period last year, reaching 3.17 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 54.9% from the same period last year, reaching 2.36 billion yen. The operating profit margin significantly improved from 9.5% in the same period last year to 12.5%.

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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	33,980	1,885	1,709	1,296	45.1	45.1	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	35,437	2,331	2,014	1,412	49.1	41.3	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	40,942	4,698	4,321	3,250	112.8	57.6	Nov 11, 2024	J-GAAP
YoY	+15.5%	+101.5%	+114.5%	+130.2%	+129.7%

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	40,900	4,650	4,300	3,250	112.7	17.50	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	40,942	4,698	4,321	3,250	112.8	17.50	Nov 11, 2024	J-GAAP
Revision Rate	+0.1%	+1.0%	+0.5%	0.0%	+0.1%

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	40,194	3,149	2,868	2,295	79.7	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	41,558	3,552	3,179	2,350	81.5	15	Nov 11, 2024	J-GAAP
YoY	+3.4%	+12.8%	+10.8%	+2.4%	+2.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,607	4,241	3,789	2,807	97.6	17.50	May 15, 2023	J-GAAP
Mar, 2024	75,631	5,480	4,882	3,707	128.8	25	May 13, 2024	J-GAAP
Mar, 2025 Guidance	82,500	8,250	7,500	5,600	194.1	32.50	Nov 5, 2024	J-GAAP
YoY	+9.1%	+50.5%	+53.6%	+51.1%	+50.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,935	1,792	1,529	1,158	40.3	9.5	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	19,389	1,615	1,403	1,025	35.6	8.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	20,805	1,534	1,465	1,270	44.1	7.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	19,804	2,052	1,952	1,482	51.4	10.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	21,138	2,646	2,369	1,768	61.4	12.5	Nov 11, 2024	J-GAAP
YoY	+11.6%	+47.7%	+54.9%	+52.7%	+52.4%