MAKIYA CO., LTD., First Half Ordinary Profit Decreases by 7%

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Tue Nov 12, 2024 3:00 pm JST Earnings

9890 MAKIYA CO., LTD. 【J-GAAP】

Earnings Report

MAKIYA CO., LTD. <9890> [TSE-S] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.4% from the same period last year to 980 million yen. The progress rate against the 2.41 billion yen full-year plan was 40.7%, also falling below the five-year average of 46.3%.

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 6.9% from the same period last year, reaching 1.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 516 million yen, a 2.8% decrease compared to the same period last year. The operating profit margin worsened from 2.6% in the same period last year to 2.2%.

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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	34,942	707	797	533	53.4	44.0	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	37,394	987	1,058	716	71.8	44.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	43,188	930	980	640	64.1	40.7	Nov 12, 2024	J-GAAP
YoY	+15.5%	-5.8%	-7.4%	-10.6%	-10.7%

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	42,400	885	960	610	61.0	12.50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	43,188	930	980	640	64.1	12.50	Nov 12, 2024	J-GAAP
Revision Rate	+1.9%	+5.1%	+2.1%	+4.9%	+5.0%

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	39,317	1,240	1,338	738	73.9	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	43,712	1,330	1,430	860	86.1	12.50	Nov 12, 2024	J-GAAP
YoY	+11.2%	+7.3%	+6.9%	+16.5%	+16.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,938	1,635	1,812	1,187	118.9	15	May 8, 2023	J-GAAP
Mar, 2024	76,711	2,227	2,396	1,454	145.7	20	May 14, 2024	J-GAAP
Mar, 2025 Guidance	86,900	2,260	2,410	1,500	150.1	25	May 14, 2024	J-GAAP
YoY	+13.3%	+1.5%	+0.6%	+3.2%	+3.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,955	501	531	354	35.5	2.6	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	20,329	825	864	592	59.3	4.1	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	18,988	415	474	146	14.6	2.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	20,974	439	464	340	34.1	2.1	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	22,214	491	516	300	30.1	2.2	Nov 12, 2024	J-GAAP
YoY	+17.2%	-2.0%	-2.8%	-15.3%	-15.3%