MATSUDA SANGYO Co.,Ltd., July-September (2Q) Ordinary Profit Decreases by 4%

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Tue Nov 12, 2024 4:00 pm JST Earnings

7456 MATSUDA SANGYO Co.,Ltd. 【J-GAAP】

Earnings Report

MATSUDA SANGYO Co.,Ltd. <7456> [TSE-P] announced its financial results after the market closed on November 12th (16:00). 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 6.58 billion yen. The progress rate against the 12.5 billion yen full-year plan was 52.6%, almost the same as the five-year average of 53.3%.

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 26.6% from the same period last year, reaching 5.92 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.84 billion yen, a 3.8% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.0% in the same period last year to 2.9%.

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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	176,004	7,953	8,128	5,634	216.0	58.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	178,780	5,081	5,876	4,062	155.8	55.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	222,170	6,278	6,580	4,622	178.3	52.6	Nov 12, 2024	J-GAAP
YoY	+24.3%	+23.6%	+12.0%	+13.8%	+14.5%

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	222,000	6,200	6,500	4,600	177.5	35	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	222,170	6,278	6,580	4,622	178.3	35	Nov 12, 2024	J-GAAP
Revision Rate	+0.1%	+1.3%	+1.2%	+0.5%	+0.5%

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	181,747	4,275	4,675	3,224	124.0	30	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	217,830	5,422	5,920	4,128	159.3	35	Nov 12, 2024	J-GAAP
YoY	+19.9%	+26.8%	+26.6%	+28.0%	+28.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	351,028	13,818	13,843	9,696	371.7	50	May 12, 2023	J-GAAP
Mar, 2024	360,527	9,356	10,551	7,286	280.2	60	May 13, 2024	J-GAAP
Mar, 2025 Guidance	440,000	11,700	12,500	8,750	337.6	70	Nov 5, 2024	J-GAAP
YoY	+22.0%	+25.1%	+18.5%	+20.1%	+20.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	90,216	2,663	2,961	2,041	78.3	3.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	92,608	2,100	2,084	1,281	49.2	2.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	89,139	2,175	2,591	1,943	74.7	2.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	111,769	3,126	3,731	2,578	99.5	2.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	110,401	3,152	2,849	2,044	78.9	2.9	Nov 12, 2024	J-GAAP
YoY	+22.4%	+18.4%	-3.8%	+0.1%	+0.8%