Isetan Mitsukoshi Holdings Ltd., First Half Ordinary Profit Increases by 69%, July-September Ordinary Profit Increases by 37%

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Wed Nov 13, 2024 3:30 pm JST Earnings

3099 Isetan Mitsukoshi Holdings Ltd. 【J-GAAP】

Earnings Report

Isetan Mitsukoshi Holdings Ltd. <3099> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 38.7 billion yen, an increase of 69.0% compared to the same period last year. The progress rate against the 77 billion yen full-year plan was 50.3%, almost the same as the five-year average of 48.7%.

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 3.6% from the same period last year, reaching 38.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 36.7% from the same period last year, reaching 17.5 billion yen. The operating profit margin significantly improved from 8.9% in the same period last year to 11.9%.

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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	222,874	8,946	9,542	7,771	20.4	31.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	248,518	20,190	22,907	14,865	38.9	38.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	264,093	34,884	38,711	25,394	67.9	50.3	Nov 13, 2024	J-GAAP
YoY	+6.3%	+72.8%	+69.0%	+70.8%	+74.6%

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	ー	ー	ー	ー	－	24	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	264,093	34,884	38,711	25,394	67.9	24	Nov 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	287,923	34,179	36,970	40,715	106.8	22	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	291,907	37,116	38,289	32,606	88.6	24	Nov 13, 2024	J-GAAP
YoY	+1.4%	+8.6%	+3.6%	-19.9%	-17.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	487,407	29,606	30,017	32,377	84.8	14	May 9, 2023	J-GAAP
Mar, 2024	536,441	54,369	59,877	55,580	145.8	34	May 14, 2024	J-GAAP
Mar, 2025 Guidance	556,000	72,000	77,000	58,000	157.7	48	Aug 9, 2024	J-GAAP
YoY	+3.6%	+32.4%	+28.6%	+4.4%	+8.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	129,838	11,536	12,806	8,060	21.1	8.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	153,253	20,749	22,069	16,243	42.5	13.5	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	134,670	13,430	14,901	24,472	64.2	10.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	129,694	18,868	21,209	13,702	36.6	14.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	134,399	16,016	17,502	11,692	31.3	11.9	Nov 13, 2024	J-GAAP
YoY	+3.5%	+38.8%	+36.7%	+45.1%	+48.2%