MEIKO TRANS CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 13% Increase, Dividend Revised Upward by 6 yen

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Tue Nov 12, 2024 2:00 pm JST Earnings

9357 MEIKO TRANS CO.,LTD. 【J-GAAP】

Earnings Report

MEIKO TRANS CO.,LTD. <9357> [NSE-M] announced its financial results in the afternoon session on November 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 12.0% from the same period last year, reaching 3.85 billion yen, resulting in an increase in profits compared to the previous forecast of a 12.9% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 17.5%, from the previous forecast of 6.3 billion yen to 7.4 billion yen (compared to 6.53 billion yen in the previous period), turning to a 13.2% increase in the consolidated ordinary profit outlook.

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 grow by 14.6% from the same period last year, reaching 3.54 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 40 yen to 46 yen (compared to 38 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.6% from the same period last year, reaching 1.83 billion yen. The operating profit margin improved from 7.2% in the same period last year to 7.7%.

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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	43,711	3,576	3,795	2,293	77.0	54.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	38,949	2,759	3,444	2,412	80.9	52.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	40,235	2,974	3,858	2,483	83.1	52.1	Nov 12, 2024	J-GAAP
YoY	+3.3%	+7.8%	+12.0%	+2.9%	+2.8%

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	38,000	2,300	3,000	2,000	66.9	20	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	40,235	2,974	3,858	2,483	83.1	23	Nov 12, 2024	J-GAAP
Revision Rate	+5.9%	+29.3%	+28.6%	+24.2%	+24.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	77,000	4,900	6,300	4,450	148.8	40	May 14, 2024	J-GAAP
Mar, 2025 New	80,000	5,800	7,400	5,000	167.2	46	Nov 12, 2024	J-GAAP
Revision Rate	+3.9%	+18.4%	+17.5%	+12.4%	+12.4%

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	38,749	2,506	3,092	2,129	71.3	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	39,765	2,826	3,542	2,517	84.2	23	Nov 12, 2024	J-GAAP
YoY	+2.6%	+12.8%	+14.6%	+18.2%	+18.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	84,101	6,247	6,959	4,641	155.7	34	May 12, 2023	J-GAAP
Mar, 2024	77,698	5,265	6,536	4,541	152.2	38	May 14, 2024	J-GAAP
Mar, 2025 Guidance	80,000	5,800	7,400	5,000	167.2	46	Nov 12, 2024	J-GAAP
YoY	+3.0%	+10.2%	+13.2%	+10.1%	+9.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	19,897	1,441	1,588	1,118	37.5	7.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	20,214	1,561	2,079	1,430	47.9	7.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	18,535	945	1,013	699	23.4	5.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	19,372	1,376	2,022	1,215	40.7	7.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	20,863	1,598	1,836	1,268	42.5	7.7	Nov 12, 2024	J-GAAP
YoY	+4.9%	+10.9%	+15.6%	+13.4%	+13.3%