MORISHITA JINTAN CO.,LTD., First Half Ordinary Profit Decreases by 59%, July-September Ordinary Profit Turns to Loss

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Tue Nov 12, 2024 3:00 pm JST Earnings

4524 MORISHITA JINTAN CO.,LTD. 【J-GAAP】

Earnings Report

MORISHITA JINTAN CO.,LTD. <4524> [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) significantly dropped by 59.4% from the same period last year to 262 million yen. The progress rate against the 900 million yen full-year plan was 29.1%, also falling below the five-year average of 74.9%.

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 surge by 3.8 times that of the same period last year, reaching 638 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 66 million yen (compared to a profit of 258 million yen in the same period last year). The operating profit/loss margin drastically worsened from 7.9% in the same period last year to -2.4%.

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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	5,413	320	343	260	64.0	55.1	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	6,295	621	645	473	116.0	79.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	6,384	244	262	182	44.7	29.1	Nov 12, 2024	J-GAAP
YoY	+1.4%	-60.7%	-59.4%	-61.5%	-61.4%

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	6,350	240	260	180	44.0	0	Nov 6, 2024	J-GAAP
Apr - Sep, 2024 Results	6,384	244	262	182	44.7	0	Nov 12, 2024	J-GAAP
Revision Rate	+0.5%	+1.7%	+0.8%	+1.1%	+1.7%

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	6,111	95	170	224	54.9	50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,316	606	638	518	126.6	55	Nov 12, 2024	J-GAAP
YoY	+3.4%	+537.9%	+275.3%	+131.3%	+130.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,359	569	623	491	120.6	40	May 10, 2023	J-GAAP
Mar, 2024	12,406	716	815	697	170.7	50	May 9, 2024	J-GAAP
Mar, 2025 Guidance	12,700	850	900	700	171.1	55	May 9, 2024	J-GAAP
YoY	+2.4%	+18.7%	+10.4%	+0.4%	+0.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,184	250	258	194	47.6	7.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,068	325	343	262	64.2	10.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	3,043	-230	-173	-38	-9.3	-7.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	3,413	316	328	245	60.0	9.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,971	-72	-66	-63	-15.5	-2.4	Nov 12, 2024	J-GAAP
YoY	-6.7%	－	－	－	－