MITANI SEKISAN CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Dividend Revised Upward by 5 yen

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Tue Nov 12, 2024 3:00 pm JST Earnings

5273 MITANI SEKISAN CO.,LTD. 【J-GAAP】

Earnings Report

MITANI SEKISAN CO.,LTD. <5273> [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) increased by 11.1% from the same period last year, reaching 7.26 billion yen, resulting in an increase in profits compared to the previous forecast of a 3.6% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.6%, from the previous forecast of 11.4 billion yen to 12.5 billion yen (compared to 13.4 billion yen in the previous period), and the declining rate is expected to decrease from 15.0% to 6.8%.

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 decrease by 23.9% from the same period last year to 5.23 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 100 yen to 105 yen (compared to 101 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 2.87 billion yen, a 0.2% decrease compared to the same period last year. However, the operating profit margin rose from 13.2% in the same period last year to 13.9%.

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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	42,815	4,252	5,053	3,477	188.8	46.4	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	40,496	5,667	6,534	4,511	245.7	48.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	42,040	6,695	7,262	4,971	271.9	58.1	Nov 12, 2024	J-GAAP
YoY	+3.8%	+18.1%	+11.1%	+10.2%	+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	40,000	5,700	6,300	4,400	240.8	50	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	42,040	6,695	7,262	4,971	271.9	55	Nov 12, 2024	J-GAAP
Revision Rate	+5.1%	+17.5%	+15.3%	+13.0%	+12.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	83,000	10,400	11,400	7,700	431.0	100	May 14, 2024	J-GAAP
Mar, 2025 New	84,000	11,500	12,500	8,500	475.8	105	Nov 12, 2024	J-GAAP
Revision Rate	+1.2%	+10.6%	+9.6%	+10.4%	+10.4%

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	42,620	6,441	6,883	4,740	258.5	61	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	41,960	4,805	5,238	3,529	197.6	50	Nov 12, 2024	J-GAAP
YoY	-1.5%	-25.4%	-23.9%	-25.5%	-23.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	86,075	9,997	10,900	8,201	445.7	72	May 12, 2023	J-GAAP
Mar, 2024	83,116	12,108	13,417	9,251	504.5	101	May 14, 2024	J-GAAP
Mar, 2025 Guidance	84,000	11,500	12,500	8,500	475.8	105	Nov 12, 2024	J-GAAP
YoY	+1.1%	-5.0%	-6.8%	-8.1%	-5.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	20,682	2,721	2,885	1,987	108.2	13.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	21,304	3,281	3,572	2,443	133.2	15.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	21,316	3,160	3,311	2,297	125.3	14.8	May 14, 2024	J-GAAP
Apr - Jun, 2024	21,630	3,861	4,384	3,071	167.9	17.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	20,410	2,834	2,878	1,900	103.9	13.9	Nov 12, 2024	J-GAAP
YoY	-1.3%	+4.2%	-0.2%	-4.4%	-4.0%