Moriya Transportation Engineering and Manufacturing Co.,Ltd., First Half Ordinary Profit Increases by 63%, July-September Ordinary Profit Increases by 69%

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Mon Nov 11, 2024 5:00 pm JST Earnings

6226 Moriya Transportation Engineering and Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Moriya Transportation Engineering and Manufacturing Co.,Ltd. <6226> [TSE-S] announced its financial results after the market closed on November 11th (17:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.81 billion yen, an increase of 63.5% compared to the same period last year. The progress rate against the 3.75 billion yen full-year plan was 48.5%, exceeding the same period of the previous year of 42.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 27.4% from the same period last year, reaching 1.93 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 69.2% from the same period last year, reaching 956 million yen. The operating profit margin jumped from 13.2% in the same period last year to 19.5%.

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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	6,819	236	196	129	7.5	24.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	8,230	1,092	1,112	722	41.5	42.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	9,125	1,745	1,818	1,227	70.1	48.5	Nov 11, 2024	J-GAAP
YoY	+10.9%	+59.8%	+63.5%	+69.9%	+68.9%

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	9,125	1,745	1,818	1,227	70.0	10	Nov 6, 2024	J-GAAP
Apr - Sep, 2024 Results	9,125	1,745	1,818	1,227	70.1	10	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	9,297	1,501	1,517	996	57.1	12.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,495	1,905	1,932	1,303	74.5	23	Nov 6, 2024	J-GAAP
YoY	+12.9%	+26.9%	+27.4%	+30.8%	+30.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,416	777	791	641	37.0	15	May 12, 2023	J-GAAP
Mar, 2024	17,527	2,593	2,629	1,718	98.4	20	May 10, 2024	J-GAAP
Mar, 2025 Guidance	19,620	3,650	3,750	2,530	144.7	33	Nov 6, 2024	J-GAAP
YoY	+11.9%	+40.8%	+42.6%	+47.3%	+47.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,235	557	565	367	21.1	13.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	4,422	617	628	409	23.5	14.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,875	884	889	587	33.6	18.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,433	829	862	582	33.3	18.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	4,692	916	956	645	36.8	19.5	Nov 11, 2024	J-GAAP
YoY	+10.8%	+64.5%	+69.2%	+75.7%	+74.7%