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Mitsubishi Paper Mills Limited, First Half Net Income Revised Downward to a Loss

Wed Nov 13, 2024 3:30 pm JST Earnings

3864 Mitsubishi Paper Mills Limited 【J-GAAP】

Earnings Report

Mitsubishi Paper Mills Limited <3864> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 232 million yen (compared to a profit of 1.63 billion yen in the same period last year), reversing from the forecast of a 1.5 billion yen to a loss

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 3.3 times that of the same period last year, reaching 8.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 209 million yen (compared to a profit of 721 million yen in the same period last year). The operating profit margin worsened from 3.5% in the same period last year to 2.3%.

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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 100,364 -435 1,504 -288 -6.5 48.7 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 96,703 1,995 3,526 1,638 37.5 49.7 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 88,400 934 450 -232 -5.3 5.6 Nov 13, 2024 J-GAAP
YoY -8.6% -53.2% -87.2% － －

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 94,000 2,500 2,500 1,500 34.2 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 88,400 934 450 -232 -5.3 0 Nov 13, 2024 J-GAAP
Revision Rate -6.0% -62.6% -82.0% － －

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 96,759 3,415 3,572 2,532 57.9 10 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 108,600 7,066 7,550 8,232 187.8 10 Nov 13, 2024 J-GAAP
YoY +12.2% +106.9% +111.4% +225.1% +224.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 209,542 968 3,089 -571 -13.0 5 May 11, 2023 J-GAAP
Mar, 2024 193,462 5,410 7,098 4,170 95.3 10 May 13, 2024 J-GAAP
Mar, 2025 Guidance 197,000 8,000 8,000 8,000 182.5 10 May 13, 2024 J-GAAP
YoY +1.8% +47.9% +12.7% +91.8% +91.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 47,386 1,669 1,976 721 16.5 3.5 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 47,966 887 806 -2,097 -48.0 1.8 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 48,793 2,528 2,766 4,629 105.8 5.2 May 13, 2024 J-GAAP
Apr - Jun, 2024 45,003 -70 354 -23 -0.5 -0.2 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 43,397 1,004 96 -209 -4.8 2.3 Nov 13, 2024 J-GAAP
YoY -8.4% -39.8% -95.1% － －

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