MISUMI CO., LTD., First Half Operating Profit Turns to Profit

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Wed Nov 13, 2024 2:00 pm JST Earnings

7441 MISUMI CO., LTD. 【J-GAAP】

Earnings Report

MISUMI CO., LTD. <7441> [FukuokaSE] announced its financial results in the afternoon session on November 13th (14:00). The consolidated operating profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 39 million yen (compared to a loss of 56 million yen in the same period last year). However, The progress rate against the 1.16 billion yen full-year plan was 3.4%, also falling below the five-year average of 34.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated operating profit for the October to March period (second half) is expected to expand by 30.3% from the same period last year, reaching 1.12 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated operating profit increased by 88.1% from the same period last year, reaching 79 million yen. The operating profit margin remained almost flat, changing from 0.3% in the same period last year to 0.5%.

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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	30,582	300	538	324	56.4	41.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	28,869	-56	130	33	5.9	10.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	29,040	39	287	426	74.5	18.0	Nov 13, 2024	J-GAAP
YoY	+0.6%	－	+120.8%	+1,190.9%	+1,166.5%

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	30,303	287	481	290	50.7	25	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	29,040	39	287	426	74.5	25	Nov 13, 2024	J-GAAP
Revision Rate	-4.2%	-86.4%	-40.3%	+46.9%	+47.0%

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	31,787	862	1,129	677	117.9	25	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	34,815	1,123	1,304	452	79.0	25	Nov 13, 2024	J-GAAP
YoY	+9.5%	+30.3%	+15.5%	-33.2%	-33.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	63,792	794	1,293	673	117.0	40	May 12, 2023	J-GAAP
Mar, 2024	60,656	806	1,259	710	123.7	45	May 13, 2024	J-GAAP
Mar, 2025 Guidance	63,855	1,162	1,591	878	153.5	50	May 13, 2024	J-GAAP
YoY	+5.3%	+44.2%	+26.4%	+23.7%	+24.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	14,666	42	82	23	4.1	0.3	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	15,929	467	578	375	65.3	2.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	15,858	395	551	302	52.6	2.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	14,404	-40	78	192	33.6	-0.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	14,636	79	209	234	40.9	0.5	Nov 13, 2024	J-GAAP
YoY	-0.2%	+88.1%	+154.9%	+917.4%	+897.8%