MAEZAWA KYUSO INDUSTRIES CO.,LTD., First Half Ordinary Profit Increases by 33%

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Mon Nov 11, 2024 5:00 pm JST Earnings

6485 MAEZAWA KYUSO INDUSTRIES CO.,LTD. 【J-GAAP】

Earnings Report

MAEZAWA KYUSO INDUSTRIES CO.,LTD. <6485> [TSE-S] announced its financial results after the market closed on November 11th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.66 billion yen, an increase of 32.6% compared to the same period last year, exceeded the previous forecast of 1.31 billion yen.

The progress rate against the 2.73 billion yen full-year plan was 61.1%, also surpassing the five-year average of 49.6%.

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 decrease by 20.8% from the same period last year to 1.06 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 29.4% from the same period last year, reaching 877 million yen. The operating profit margin improved from 8.1% in the same period last year to 10.5%.

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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	15,401	1,090	1,174	773	34.8	51.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	15,636	1,190	1,259	808	37.1	48.5	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	15,716	1,583	1,669	1,114	52.8	61.1	Nov 11, 2024	J-GAAP
YoY	+0.5%	+33.0%	+32.6%	+37.9%	+42.3%

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	15,850	1,220	1,310	860	40.9	21	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	15,716	1,583	1,669	1,114	52.8	21	Nov 11, 2024	J-GAAP
Revision Rate	-0.8%	+29.8%	+27.4%	+29.5%	+29.1%

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	16,372	1,276	1,339	873	40.6	22	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,284	997	1,061	666	32.1	21	Nov 11, 2024	J-GAAP
YoY	-0.5%	-21.9%	-20.8%	-23.7%	-20.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,008	2,184	2,267	1,433	64.8	33	May 12, 2023	J-GAAP
Mar, 2024	32,008	2,466	2,598	1,681	78.1	40	May 13, 2024	J-GAAP
Mar, 2025 Guidance	32,000	2,580	2,730	1,780	85.8	42	May 13, 2024	J-GAAP
YoY	0.0%	+4.6%	+5.1%	+5.9%	+9.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,991	646	678	451	20.7	8.1	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	8,724	800	859	575	26.6	9.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	7,648	476	480	298	13.9	6.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	7,826	758	792	527	24.9	9.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	7,890	825	877	587	27.8	10.5	Nov 11, 2024	J-GAAP
YoY	-1.3%	+27.7%	+29.4%	+30.2%	+34.4%