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

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% － － － －

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